1.1 Definition and presentation
Crisps 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. Crips are a sub-segment of the snacking market, largely dominated by the United States.
There are different types of crisps:
- Natural crisps (thin, flat, tile, etc.)
- Flavored crisps (for example: barbecue, cheese, onions, vinegar)
- Vegetables crisps (e.g. based on radishes, parsnips, carrots, beets, etc.)
The global Crisp 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. In the UK, the Potato Crisp & Snack market grew by 4% annually between 2015 to 2020.
The UK crisp market is highly fragmented; there are a wide range of brands available. Nevertheless, more known brands are still preferred to consumers. Thus, the industries spending on advertisement has been crucial. [AHDB] The three largest companies are McCain Foods, KP Snacks, and Walkers Snack.
Demand is strongly driven by healthy alternatives to crisps; to not lose out, traditional potato crisps need continuous innovation, such as baking crisps instead of frying.
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