Potato Chips and Extruded Snack Food (Kurkure Type) are popular, crunchy snacks made from potatoes. Potato chips are thin slices of potatoes that have been fried in oil or baked, while snacks are extruded (Kurkure type) or puffed snacks that are flavoured with spices and sometimes even masalas. Potato chips and Extruded Snack are loved by many. Extruded food come in a wide range of flavours such as spicy chili, chat masala, and tomato. These snacks can also be combined with nuts, dried fruits, and other ingredients to create interesting and unique flavours. Both potato chips and Extruded Snack Food (Kurkure Type) are convenient and inexpensive snacks that are easy to store and prepare. They make for a great snack for parties and gatherings, and can be easily customized to suit any taste or preference.
Benefit Of Starting Potato Chips and Extruded Snack Food (Kurkure Type) Business
Starting a business in Potato Chips and Extruded Snack Food (Kurkure Type) has several benefits. These snacks are highly popular and sought-after, making them ideal for entrepreneurs looking to capitalize on the market demand. First and foremost, potato chips and extruded snack food offer quick and convenient snacks for consumers, which can make them a great choice for busy people who need something to eat on the go. Additionally, these snacks tend to be relatively inexpensive, making them an affordable option for those on a budget. Finally, due to the large variety of flavours available, entrepreneurs have the opportunity to experiment with different recipes to create unique flavours that will attract customers. Furthermore, the markets for both potato chips and extruded snacks are expected to experience strong growth over the next few years.
Indian Market Outlook
The Indian market for potato chips and extruded snacks (Kurkure type) is expanding rapidly. According to the International Trade Administration, India’s snack market is currently estimated at US$ 6.1 billion and is forecast to reach US$ 11.2 billion by 2021. India Extruded Snacks Market Outlook, 2027-28 the market is anticipated to grow at more than 9% CAGR for 2022-2028. The Indian snacks industry is the most promising and booming segment of the FMCG category. Consumers always prefer healthier and more flavourful options in the food market. There is a rise in demand for snacks in India; it is driving companies to grow and operate in this segment lucratively. India is the second most populated country in the world. 65% of the total population is below the age of 30 years. The young population is expected to be the consumers of these products. Also, rising per capita income is another major factor which could drive growth in this industry. The extruded snacks market is driven by the consumption habits of consumers, marketing strategies of companies, pricing strategies, and developing economies of the world.
Global Market Outlook
The global potato chips market size reached a value of USD 33.45 billion in 2022. The market is expected to further grow in the forecast period of 2023-2028 at a CAGR of 2.90% to reach a value of USD 39.71 billion by 2028. Increasing product innovations in taste and flavour, owing to changing preferences of consumers towards healthy diet and lifestyle is expected to be one of the major growth drivers for the potato chips market. Introduction of healthier alternatives such as low-sodium and low-fat potato chips is expected to drive growth of the global potato chips market over the forecast period.
The global extruded snacks market size was valued at USD 50.37 billion in 2021. The market is projected to grow from USD 53.20 billion in 2022 to USD 77.72 billion by 2029, exhibiting a CAGR of 5.57% during the forecast period. Extruded products are becoming very popular among consumers due to their flavourful taste profiles and interesting shapes. Snacking has become one of the fastest-spreading industry trends due to consumers' increasing demand for on-the-go products. The emerging trend of healthy snacking is expected to bring tremendous opportunities and innovations across industry during the forecast period. The market in the Asia Pacific is expected to grow at a significant CAGR attributed to its flourishing food processing industry. The increasing disposable income levels among from developing markets of India, China, Malaysia, and Indonesia is expected to support the market growth. The increasing millennial population and their growing interest in innovative flavours and fuel the market growth in the region.
Conclusion
There are many benefits to starting a business in potato chips and extruded snacks (Kurkure type). Not only do these snacks provide convenience and affordability, but they also offer entrepreneurs the chance to create unique flavours and capitalize on the strong growth in these markets.
Key players
· General Mills
· Kellogg Co
· J&J SNACK FOODS CORP
· PepsiCo
· The Kraft Heinz Company
· Nestlé
· Prataap Snacks Ltd
· Utz Brands
· CAMPBELL SOUP COMPANY
· Burts Potato Chips Ltd
· Herr Foods
· Intersnack Group GmbH & Co. KG
· Calbee, Great Lakes Potato Chips
· The Lorenz Bahlsen Snack-World GmbH & Co KG Germany,
· Frito-Lay North America
