Global Potato Extruded Snacks Market Size By Type (Low-fat, Normal), By Application (Online, Offline), By Region, And Segment Forecasts, 2023 to 2032

The Global Potato Extruded Snacks Market was valued at USD 12.7 billion in 2023 and is expected to reach USD 19.4 billion by 2031, registering a CAGR of 5.4% during the forecast period of 2023-2031. The growing demand for convenient, tasty, and on-the-go snacks is driving the market. As health-conscious consumers increasingly seek healthier alternatives, manufacturers are innovating in product formulation, using natural ingredients, and offering baked, low-fat, and gluten-free options. Additionally, the growth of retail channels, including supermarkets and online stores, has bolstered the global market for potato extruded snacks.

Drivers:

Rising Demand for Convenience Foods: Increasing urbanization and busy lifestyles are driving the demand for ready-to-eat snack options, making potato extruded snacks a popular choice among consumers worldwide.

Healthier Product Innovations: The shift towards healthy snacking has prompted manufacturers to introduce low-fat, baked, and natural ingredient-based extruded snacks, further fueling market growth.

Growing Retail Sector: Expansion of modern retail channels, such as supermarkets, convenience stores, and online platforms, is creating significant opportunities for potato snack manufacturers to reach a broader consumer base.

Restraints:

Volatility in Raw Material Prices: Fluctuations in the prices of raw materials, particularly potatoes and vegetable oils, can affect the cost of production, posing a challenge for manufacturers.

Rising Health Concerns Over Processed Foods: Despite the shift towards healthier options, consumer concerns over the high sodium and additive content in processed snacks may restrain market growth.

Opportunity:

Innovation in Product Flavors and Packaging: The introduction of new flavors, such as spicy, sweet, or exotic options, along with eco-friendly and convenient packaging, is expected to create growth opportunities for manufacturers.

Emerging Markets: The increasing disposable income in emerging markets, particularly in the Asia-Pacific and Latin America regions, presents significant opportunities for potato extruded snack brands.

Market by System Type Insights:

The Baked Snacks segment is expected to dominate the market during the forecast period. Baked extruded snacks have gained popularity due to their lower fat content compared to fried alternatives, aligning with the global trend of healthy snacking.

Market by End-use Insights:

The Retail Channel segment accounted for the largest share of the global market in 2023, with supermarkets and hypermarkets being the primary outlets for purchasing extruded snacks. However, the Online Retail segment is anticipated to witness the highest growth, driven by the increasing penetration of e-commerce platforms.

Market by Regional Insights:

Geographically, North America held the largest market share in 2023, driven by a high preference for convenience snacks and product innovation by key players. Asia-Pacific is expected to register the highest growth during the forecast period, supported by increasing urbanization, disposable incomes, and the rising popularity of Western-style snacks in countries like China and India.

Competitive Scenario:

Key players in the Global Potato Extruded Snacks Market include PepsiCo, Inc., Calbee, Inc., General Mills, Inc., Kellogg Company, Intersnack Group GmbH & Co. KG, and The Lorenz Bahlsen Snack-World GmbH & Co KG. These companies focus on product innovations, mergers, and acquisitions to expand their market presence. For instance:

PepsiCo, Inc. launched a new range of low-fat potato extruded snacks in 2023 to cater to health-conscious consumers.

Calbee, Inc. announced a partnership with a leading food retailer in Asia in 2022 to expand its product distribution network.

Scope of Work – Global Potato Extruded Snacks Market

Key Market Developments:

In 2023, PepsiCo launched a new range of baked potato extruded snacks with 50% reduced fat content.

Calbee, Inc. partnered with a leading distributor in Asia-Pacific in 2022 to strengthen its market presence in the region.

In 2024, General Mills introduced a range of gluten-free potato extruded snacks, catering to the growing demand for allergen-free products.

FAQs

What is the current market size of the Global Potato Extruded Snacks Market? The market was valued at USD 12.7 billion in 2023.

What is the major growth driver of the Global Potato Extruded Snacks Market? The rising demand for convenient and healthy snacking options is a significant driver of market growth.

Which is the largest region during the forecast period in the Global Potato Extruded Snacks Market? North America holds the largest market share, while Asia-Pacific is expected to witness the highest growth.

Which segment accounted for the largest market share in the Global Potato Extruded Snacks Market? The Baked Snacks segment led the market in 2023, driven by growing health-consciousness among consumers.

Who are the key market players in the Global Potato Extruded Snacks Market? Key players include PepsiCo, Inc., Calbee, Inc., General Mills, Inc., and Kellogg Company.