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U.S. - Potato Chips - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Sep 4, 2020

The Pandemic to Hinder Robust Growth of the American Potato Chips Market

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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 tonnes (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 tonnes, 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 tonnes 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 tonnes), Mexico (20K tonnes), and China (3.7K tonnes) 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 tonne 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 tonne 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 tonne), while the price for chips from China ($913 per tonne) 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.

Source: IndexBox AI Platform

Product coverage:
• 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)

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.


Country coverage:
• USA

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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007-2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2019
Figure 5:
Trade Balance, In Physical Terms, 2007-2019
Figure 6:
Trade Balance, In Value Terms, 2007-2019
Figure 7:
Per Capita Consumption, 2007-2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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