Asia Pacific Potato Chips And Crisps Market

Asia Pacific Potato Chips and Crisps Market Growth and Forecast (2023 - 2028):

Asia Pacific Potato Chips and Crisps Market was worth USD 7.1 billion in 2022 and estimated to be growing at a CAGR of 4.4%, to reach USD 8.81 billion by 2028.

Market Overview:

Potato chips and crisps are one of the most popular snack foods consumed worldwide. Over the years, the potato chips and crisp market has witnessed substantial growth, turning it into a multibillion-dollar market. However, the market is currently witnessing a shift in consumption patterns, a fluctuation in price of raw materials, and intense competition from substitutes. Manufacturers in the market are expected to meet success by developing newer products and quickly modifying ingredients of existing products to meet changes in consumer demand.

Changing lifestyles and longer working hours have reduced the tendency of consumers to have elaborate meals. This is a key factor driving the potato chips and crisps market. A rise in the demand for packaged food, urbanization, increasing disposable incomes of consumers and growth in the economy of developing nations are collectively boosting the growth of the potato chips and crisps market. On the other hand, a rise in health consciousness among consumers has encouraged a shift towards healthier eating patterns, such as fruits and wholegrain crackers. This is expected to threaten the potato chips and crisps market. However, manufacturers in the industry are responding to this threat by developing a premium range of healthier potato chips and crisps.

Asia Pacific Potato Chips and Crisps Market Segmentation Analysis:

Asia Pacific Potato Chips and Crisps Market Segmentation by type, taste and distribution channel. By type the market is classified into Sliced, compound, baked and dehydrated. By taste the market is segmented into Plain, salted, chilli and flavoured. Plain potato chips dominated this segment during the forecast period. By distribution channel the market is analysed under Supermarkets, convenience stores, independent retailers and others. The supermarkets accounted for a major share of the market.

Region Analysis:

On the basis of geography, the market is analysed under various regions namely China, India, Japan, Australia and South Korea. Asia Pacific is predicted to grow at a rapid pace in the coming few years due to the rising urbanization and an increase in the per-capita income. A substantial growth has been seen in China during the past two decades, supported by the introduction of new flavours and healthier alternatives.

Key Players in the Market:

Major key players in the Asia Pacific Potato Chips and Crisps Market are

Some of the key Potato Chips and Crisps Market leaders are Calbee Foods, Herr, Intersnack Group, and PepsiCo, Snyder’s-Lance and UTZ Quality foods.