USD 6.75 billion
Report ID: SQSG30I2059 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 311 | Figures: 84
U.S. Potato Chips Market size was valued at USD 6.75 billion in 2021 and is poised to grow from USD 7.2 billion in 2022 to USD 11.63 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).
Potato chips are typical snack, side dish, or appetizer. Basic chips are salted and baked; other kinds are made with a variety of flavourings and substances, such as cheeses, herbs, spices, and other natural or artificial tastes. They are made using thin potato slices that have been seasoned and fried till crisp. The sugar in potatoes combines with the amino acids during frying to turn brown, giving potato chips their yellowish-brown hue. Additionally, potato chips are prepared and kept in a way that makes them immune to microbial deterioration, chemical reactions, and enzymatic activity. Additionally, they are marketed and packaged in airtight plastic bags, which helps to extend their shelf life.
Due to the introduction of new distribution channels like supermarkets and hypermarkets, the retail sector is continuously expanding. Consumer propensity for these distribution channels is increasing as a result of the availability of a large variety of items there. Supermarkets and wellness chains are expanding in emerging economies like China and India, which will probably fuel market expansion. Growing trends to replace meals with smaller, more nutrient-dense snacks and changing lifestyles that promote on-the-go eating are leading to increased use of potato chips in daily diets.
U.S. Potato Chips Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.75 billion
Supermarket/Hypermarket Independent Retailers
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U.S. potato chips market is segmented based on the product type, type, source, flavour, category, packaging size, price, packaging, brand, end user, and distribution channel. Based on product type, U.S. potato chips market is segmented into Baked, fried, dried and others. Based on type, the market is segmented into extruded, sliced and others. According to source, it is segmented into russet potatoes, yellow potatoes, white potatoes, red potatoes, purple or blue potatoes, fingerling potatoes, new potatoes and others. On the basis of flavour, it is bifurcated into flavoured and plain/salted. According to category, the market is bifurcated into organic and conventional. Based on the packaging size, it is segmented into < 10 Oz, 10 -20 Oz, 20 – 30 Oz and > 30 Oz. On the basis of price, it is bifurcated into premium and regular. According to packaging, the U.S. Potato Chips Market is categorized into pouches, bags, cans, cardboard boxes and other. On the basis of brand, the market is divided into branded and private label. According to end user, it is sub segmented into retail/household and food service sector. Based on distribution channel, it is divided into supermarket/hypermarket independent retailers, convenience stores and others.
U.S. Potato Chips Market Analysis by Distribution Channel
Supermarket & hypermarket segment amounted for the highest share of U.S. potato chips market in 2021. Many customers are drawn to the supermarkets and hypermarkets due to their convenience of shopping and incentives for large purchases. Additionally, availability of a wide variety of types of products and brands can also be responsible for the consumer’s preference for this channel.
Online retailing category is anticipated to grow the fastest during the forecast period. Due to factors including the availability of a large variety of flavours of potato chips and crisps, quick accessibility, and ease of cost comparison among various types of chips, the market of chips in U.S. is expected to grow significantly. Grocery-based applications are becoming more popular, which is promoting the segment's expansion.
U.S. Potato Chips Market Analysis by Flavour
The plain/salted flavor segment held the highest market share in 2021. Consumers generally prefer simply salted snacks to alleviate their hunger. Thus, consumer’s preferences for traditional flavors will spike the demand for this segment. Americans frequently mix traditional salt chips with a range of gourmets such as burgers and sandwiches which is one of the major factors contributing to the U.S. potato chips market growth.
Flavored chips segment is expected to witness the highest growth rate during the forecast period. This can be attributed to the consumer’s demand for healthier and flavored options which led to potato chips producers offering a wide range of variations, including cheddar and sour cream, barbecue, sweet & spicy, ketchup, and cheese flavored potato chips. The reason for increasing preference of consumers towards spicy and ethnic flavors can also be because of the increasing Hispanic and Asian population in the U.S.
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U.S is one of the biggest market for potato chips which can be attributed to the shifting consumer preferences and lifestyles and varying tastes and requirements and manufacturer efforts to fulfil these needs. Moreover, rising demand for convenient and ready-to-eat food in this region is also driving the market. Another significant factor projected to support the regional market expansion is the presence of major industry players across the region.
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U.S. Potato Chips Market Driver
U.S. Potato Chips Market Restraint
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The existence of both established and regional firms defines the U.S. potato chips market. There is a presence of many multinational as well as local players. These industry players are encouraging the development of taste, product, and health benefit clusters. Product clutter in the market is expected to increase as a result of shifting consumer preferences and lifestyles, as well as industry efforts to create goods that meet customers' needs. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
U.S. Potato Chips Market Top Player's Company Profiles
U.S. Potato Chips Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our U.S. potato chips market analysis, with the growth in urbanisation, there has been an increase in the demand for snacks and other goods. The consumption of potato chips has increased significantly over time due to the steadily growing population, which has helped the product's market expansion. It became a popular favourite due to the availability of a broader variety of flavours and sizes. Furthermore, the appealing, crunching sound that is created when eating the chips is a key aspect in promoting consumption. Therefore, customers are more likely to appreciate chips if they are crunchier.
|Market size value in 2021||USD 6.75 billion|
|Market size value in 2030||USD 7.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the U.S. Potato Chips Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Potato Chips Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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