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The Market Value of Potato Chips in the UK |
What are Potato Chips Called in the UK?
Chips or fries are a favorite in many parts of the world, and so is it in the UK. Nowadays the development of potato chips machine has contributed to the increase of potato chips variety. Unlike some other countries, the people in the UK make and eat chips in a variety of ways- from thick to thin, as an accompaniment or on their own, with vinegar, brown sauce, tomato ketchup, and more recently mayonnaise, and most traditional of meals, fish and chips, etc. People in the UK call potato chips “ potato crisps” and they call fries “chips” or “ french fries” if they are very thin fries. What people in the UK call a chip is a thick-ish strip of potato that has been deep-fried ( what Americans call fries). A UK chip is thicker than a UK french fry. Here are some pictures of types of fried potatoes and their UK names.
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| UK = Chips | UK = Chip | UK = Crisps | UK = Tortilla Crisps | UK = Sautéed/ Fried Potatoes |
| Other Places French Fries Pomme Frites |
Other places Fries Fried Potatoes |
Other places Potato Chips |
Other places Tortilla Chips |
Other places Fried Potatoes Sautéed Potatoes |
N.B.: UK “chips” are always long and oblong in shape – any other shape is referred to as fried or sautéed potatoes.
The Market Value of Potato Chips in the UK
The UK potato chips market had total revenues of $1,694.4m in 2012, representing a compound annual growth rate (CAGR) of 2.5% between 2008 and 2012. Market consumption volumes increased with a CAGR of 1% between 2008 and 2012, to reach a total of 182 million kilograms in 2012. The performance of the market is forecast to follow a similar pattern with an anticipated CAGR of 2.4% for the five-year period 2012-2017, which is expected to drive the market to a value of $1,907.8m by the end of 2017.
Favorable Factors for Exporting Potato Chips into the UK
The UK potato chips market is not only profitable for the local manufacturers but also for the exporters of potato chips. There are several favorable factors for the exporters.
A. Political Factors
Exporting to Euro Union is protected by free trade policy. This will significantly simplify the exporting process and cut down the cost.
B. Economic factors
The frozen potato product market was growing in the last two years. 1 in 4 of all British potatoes consumed in Britain is eaten as chips. In addition, the fast-food market in the UK increased by 5.2 percent in 2008 to reach a value of 1.7 billion. As an associate market, growth in the fast-food industry would also accelerate the frozen potato products market. Meanwhile, the stable economic environment in the UK also protects the business from any sort of risk.
C. Socio-cultural factors
More and more people realize the influence of consuming junk food nowadays, hence younger people were eating fewer potato products. However, the temptation of its taste and convenience cannot be resisted. Potato chips already become a part of people’s life. Chips are eaten by 80 percent of all UK households. On the other hand, the public interest in sports events may stimulate snack food production.
Therefore it has long-term benefits not only for producing potato chips in the UK but also for exporting potato chips to the UK.