The global potato chips market to reach 50.63 billion USD by 2025, according to a recent market research report by Williams & Marshall Strategy.
In 2015, the global cigars market was equal to 32.18 billion USD, calculated in retail prices. By 2025, the market is forecast to reach 50.63 billion USD. Thus, increasing at a compound annual growth rate (CAGR) of 3.83% per year for the period 2020-2025. That is a decrease, compared to the annual growth rate of 5.47%, registered for 2015-2019.
The average consumption per capita reached 8.78 USD in retail prices in 2015. For the next five years, it grew at a CAGR of 4.23%. By 2025, the per capita consumption is forecast to increase at a CAGR of 2.89%.
The growing “less but better” trend has been also widely seen in the snack foods industry across the world. An expanding global economy and rising incomes in many countries around the globe have made it possible for consumers to switch to more sophisticated snacks with a higher quality. These better snacks boast not only a better taste, but are also considerably healthier. In order to capitalize on the ongoing premiumization trend, major players in savory snacks, particularly potato chips, are investing in the development of their premium brands, which are usually more expensive and consumers are willing to buy them.
As health concerns become more widespread, people become more susceptible to any reformulations aiming to reduce the number of calories. To stay relevant, leading manufacturers are exploring techniques like baking and air-frying chips, instead of traditional methods. These alternatives reduce fat content and make the product healthier by preserving the nutritional value of the raw ingredients used.
The global potato chips market research report is prepared using Williams and Marshall Strategy’s methodology. It includes a blend of qualitative and quantitative data including insights from market experts, gathered by semi-structured interviews.
If you have questions about this report, contact the WMStrategy.
The report includes information on the following companies:
- Burts Chips;
- Calbee Foods;
- Golden Flake Snack Foods;
- Great Lakes Potato Chips;
- Intersnack Group;
- Kettle Foods;
- Lorenz Bahlsen Snack World;
- Notions Group;
- Old Dutch Foods;
- Panpan Group;
- Pop Chips.
Williams & Marshall Strategy (WMStrategy) is a global full-service market research and consulting company. They provide market insights, analysis, and consulting expertise in a broad range of industries. Their goal is to provide industry professionals with an accurate and comprehensive picture of a target market to improve strategic decision making.
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