As per the latest report by IMARC Group, titled “Potato Chips Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 29 Billion in 2018. Potato chips represent one of the most popular snacks consumed across the globe. They are thinly sliced potato pieces that are either baked or fried until they become crunchy. Potato chips are generally served as a snack, appetizer or side dish with added flavors and ingredients such as salt, cheese and spices. These chips are processed and stored in a manner that prevents them from any microbiological spoilage, chemical and enzymatic activities, and moisture or other vapor migration. As a result, the taste, texture and color of the chips remain unaltered for a long time.
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Global Potato Chips Market Trends:
The presence of a diverse range of potato chips with different flavors and textures represents one of the major factors driving the market growth. Moreover, the raw materials that are employed in the production of potato chips such as potatoes, oil and salt, are widely available in almost every part of the world, which encourages their production. Apart from this, the demand from emerging economies is anticipated to drive the market in the upcoming years. While, the consumption of potato chips was earlier confined to the western countries, with the westernization of food consumption patterns, a rise in the middle-class population and rapid urbanization, the consumption of potato chips in developing countries has been growing at a significant rate. Looking forward, the market value is projected to reach US$ 35 Billion by 2024, expanding at a CAGR of around 3.1% during 2019-2024.
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Market Summary:
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