South Korea Potato Chips Market Outlook

Synopsis
The above chart is South Korea Potato Chips Market Outlook (2018 to 2032)

Market Dynamics

the south korean potato chip market is projected to experience a sustained, steady growth, from 2018 to 2032, heterogenously distributed among snack makers. the consumer demand for potato chips is highly driven by the changing lifestyle of consumers and growing demand for health snacks. confirming the rising demand of snacks, the south korean convenience store industry has grown significantly in the last few years, which is likely to enhance the demand for potato chips during the forecast period. the snacking culture from western countries has significantly impacted south korean lifestyle, thus a growing demand for potato chips is anticipated to follow. key manufacturers are introducing various flavors and packaging formats of potato chips, such as ready-to-eat snacks and spicy flavors, in order to attract new customers and gain a larger share of the south korean potato chip market. packaging formats such as grab-and-go and ready-to-eat snacks have gained immense popularity in south korea due to their convenience. new ingredient innovation is among the popular strategies adopted by leading players to launch innovative products and increase product penetration. for instance, in 2018, lotte released a new technology to create potato chips with unique flavors, such as ricola hybrid sweet potato chips and chinese herb-infused health snacks. this has enabled them to differentiate themselves from competitors. due to the health benefits offered by potato chips, like increased potassium, fiber and vitamin c content, along with their convenience and easy availability, the demand for potato chips in south korea is expected to increase considerably over the forecast period. additionally, increased preference for health snacks among the growing health-conscious population will drive the demand for potato chips in the region.