The Global Potato Chips Market to Grow at a CAGR of 4.40% Until 2028

For the projection period of 2021–2028, Data Bridge Market Research predicts that the global potato chips market will grow at a CAGR of 4.40%.

The main drivers of the potato chip market's expansion are rising personal disposable income, an increasing trend of westernizing food consumption habits, a growing economy, and an increase in the demand for snacks globally. As a result, the market value for potato chips, which was USD22.10bn in 2020, would rise to USD31.18bn by 2028.

“Increase in the number of organized retail stores and growth of the organized retail sector are other important factors acting as potato chips market growth determinants. The introduction of several flavor variants and high demand for convenience food will further create lucrative growth opportunities for the potato chips market. The introduction of healthier alternatives such as low-fat and low-sodium chips, growth and expansion of the e-commerce industry especially in the developing economies, and rising westernization will further induce growth in the potato chips market value. Rising production capabilities of various players will also induce growth in the potato chips market value,” the analysts wrote.

The market for potato chips will face significant obstacles from the fierce competition from other, healthier snack options on the market. The population's growing awareness of health issues will further slow the market's expansion for potato chips. Changes in consumer behavior and variations in the pricing of raw materials will slow the market's expansion even more.