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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