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1 Market overview
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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the crisps market | United Kingdom
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