the chip market
1.1 Definition and presentation
Chips are believed to have been born in the United States at the end of the 19th century and have now become one of the best-selling products in mass distribution. Chips are a sub-segment of the snacking market, largely dominated by the United States.
There are different types of chips:
- Natural chips (thin, flat, tile, etc.)
- Flavored chips (for example: barbecue, cheese, onions, vinegar)
- Vegetables chips (e.g. based on radishes, parsnips, carrots, beets, etc.)
The global Chip market is expected to grow at a CAGR of 3.1% between 2019 to 2024. Demand is driven in part by a rising middle class in Emerging Markets copying food trends from Developed Economies. Nevertheless, the US is the largest market in the world. This market is projected to grow by a CAGR of 4.4% by 2025.
The Chips Market is fragmented, with many brands available to consumers. Key players in the US include PepsiCo, Shearer’s, Pringles, and Kettle Brand amongst others.
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