Whitepaper: Innovative Flavors and Convenience Spur Potato Chips Growth
The global potato chips market reached USD29.7bn by the end of 2017, riding an average annual volume percent growth of 5.9% over the 2012-2017 period, according to the latest research data. Sales of potato chips remain heavily skewed towards Western countries and nations with larger populations. The U.S. has the world’s largest market, followed by the UK, Russia, Brazil, China and India.
Moreover, the market is expected to develop naturally in the next few years. The pillars influencing growth will remain creating new, bold flavors, particularly to suit younger consumers, an increase in snacking behavior and the constantly improving quality of snacks.
As the phenomena of snacking for convenience continues to be on the rise, consumers are more likely to replace one or two meals per day with snacks, and potato chips manufacturers are capitalizing on this trend. On the other hand, snack-food consumers are also looking to eat healthier snacks and maintain wholesome diets, so snack makers are under pressure to reinvent their classic recipes in ways that allow them to cut down on harmful ingredients such salt and fat. The demand for functional and non-GMO ingredients is also high due to the rising cases of obesity, diabetes, gluten allergy, and other conditions.
Our first WhitePaper in 2019 explores the potato chips market and how it is constantly evolving in response to consumers demands and preferences.
The challenge of food companies is to understand these new and changing demands, while also innovating in the area of new flavors, so as to stay on top of the game. From Pickled Onion and Salted Egg to Brussels Sprouts and Red Caviar, we discuss in our WhitePaper some of the most unique flavors that were released by potato chips manufacturers over the last few years.
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