Latin America Potato Chips And Crisps Market

Latin America Potato Chips and Crisps Market Growth and Forecast (2023 - 2028):

Latin America Potato Chips and Crisps Market was worth USD 5.52 billion in 2022 and estimated to be growing at a CAGR of 4.5%, to reach USD 6.88 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.

Drivers and Restraints:

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.

Latin America Potato Chips and Crisps Market Segmentation Analysis:

Latin America 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:

Geographically the Latin America Potato Chips And Crisps Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America.

Key Players in the Market:

Major Key Players in the Latin America Potato Chips And Crisps Market are

• Calbee Foods
• Herr
• Intersnack Group
• PepsiCo
• Snyder’s-Lance
• UTZ Quality foods