U.S. - Potato Chips - Market Analysis, Forecast, Size, Trends And Insights
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View PricingThe Pandemic to Hinder Robust Growth of the American Potato Chips Market
IndexBox has just published a new report: 'U.S. - Potato Chips - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.
In 2019, the U.S. potato chips market increased by 3.4% to $9.6B, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +3.5% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period.
The COVID-19 pandemic remains the main constraint on market growth. In early 2020, the global economy entered a period of the crisis caused by the outbreak of the pandemic. In order to battle the spread of the virus, most countries in the world implemented quarantine measures that put on halt production and transport activity.
The combination of those factors hampers economic growth heavily throughout the world and disrupts the international supply chains. The result will be a drop in GDP relative to previous years, which is to cut consumer spending. The U.S. is struggling with a drastic short-term recession, as the hit of the pandemic was harder than expected, and unemployment soared due to the shutdown and social isolation. According to the World Bank forecasts, despite the gradual relaxing of restrictive measures and unprecedented government support, the expected contraction of GDP in the U.S. may amount to approx. -6% in 2020.
The food market is extremely vulnerable to quarantine measures and restrictions due to the pandemic due to the disruption of the usual sales channels and supply chains. Against the background of the closure of the HoReCa sector due to quarantine restrictions and lower incomes of the population, as well as a decrease in the frequency of consumer visits to supermarkets and shops, a certain decrease in potato chips consumption can be expected.
In the context of falling incomes, consumers primarily tend to exclude non-staple goods from purchases, which include potato chips. Thus, a sharp drop in household incomes is a powerful factor that will restrain the growth of the market in the medium term. On the other hand, people who like potato chips may most likely keep their preferences, which is to support the market.
Accordingly, in the medium term, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2019 to 2030, which is projected to bring the market volume to 3.2M tons (IndexBox estimates) by the end of 2030.
Production in the U.S.
In 2019, the production of potato chips increased by 3.4% to 3M tons, rising for the third year in a row after two years of decline. The total output volume increased at an average annual rate of +3.6% from 2013 to 2019; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% year-to-year. Over the period under review, production reached the peak volume in 2019 and is expected to retain growth in the immediate term.
In value terms, potato chips production expanded slightly to $9.8B in 2019. The total output value increased at an average annual rate of +3.5% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 13% year-to-year. Over the period under review, production attained the peak level in 2019 and is likely to see gradual growth in the near future.
Imports into the U.S.
For the third consecutive year, the U.S. recorded growth in supplies from abroad of potato chips, which increased to 57K tons in 2019. The total import volume increased at an average annual rate of +3.7% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. In value terms, potato chips imports expanded slightly to $205M (IndexBox estimates) in 2019.
Imports by Country
Canada (28K tons), Mexico (20K tons), and China (3.7K tons) were the main suppliers of potato chips imports to the U.S., together comprising 91% of total imports. These countries were followed by the UK and the Dominican Republic, which together accounted for a further 3.9%.
From 2013 to 2018, the biggest increases were in the Dominican Republic (+53.1% per year), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest potato chips suppliers to the U.S. were Canada ($91M), Mexico ($82M), and the UK ($6M), with a combined 91% share of total imports. China and the Dominican Republic lagged somewhat behind, together accounting for a further 3.4%.
Import Prices by Country
The average potato chips import price stood at $3,448 per ton in 2018, therefore, remained relatively stable against the previous year. Over the period from 2013 to 2018, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2014 an increase of 10% y-o-y. Over the period under review, average import prices hit record highs at $3,492 per ton in 2017 and then dropped slightly in the following year.
Prices varied noticeably by the country of origin; the country with the highest price was the UK ($4,571 per ton), while the price for chips from China ($913 per ton) was amongst the lowest.
From 2013 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the potato chips market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10311430 - Potatoes prepared or preserved in the form of flour, meal or flakes (excluding frozen, crisps, by vinegar or acetic acid)
- Prodcom 10311460 - Potatoes prepared or preserved, including crisps (excluding frozen, dried, by vinegar or acetic acid, in the form of flour, m eal or flakes)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
