Lays Launches a New Classic Flavor on the Heels of the Brand’s New Revamped Logo
Date : Dec 03, 2019 Author : PMR Editorial Staff Category : Food and Beverage
According to a new report published by Persistence Market Research, the global processed potato products market is expected to grow at a CAGR of ~4% between 2019 and 2029.
Lays – one of the most renowned potato chip brands owned by PepsiCo, has garnered a reputation of consistently introducing fresh potato chip flavors to the market. In October 2019, the company announced that customers will now be able to savor one of the classic flavors – grilled cheese and tomato on-the-go in the form of potato chips. The fresh new flavor hit the stores on October 21 in the U.S. and according to reports, the new product is likely to stay around for a limited period of time.
Further, sensing the growing desire for new, unique, and innovative flavors, Lay’s formulated the classic recipe wherein the potato chip consists of flavor profiles that taste like buttery cheese and tomato. The new flavor was launched at a time just after the company launched a brand new logo – a redesign in the company’s packaging initiated after a period of nearly 12 years. The launch of the flavor also coincided with Lay’s “Gotta Have Lay’s” contest in which customers stood a chance to win a year-long supply of potato chips. Although Lay’s did not announce the flavor that was going to be handed out, several fans of the popular processed potato product exhibited significant interest in the contest, ramping up the sales of the new flavor by a significant margin.
Further, earlier in the year, Lay’s launched the ‘Turn-Up the Flavor’ – a range of potato chips inspired from popular music genres including hip hop, rock, and pop. According to the senior marketing director of sales, Katie Ceclan, “Like the flavor, music has the power to elicit strong emotions such as joy, passion, and nostalgia. Those emotions can be heightened even further when you pair the right flavor and music together – and that's exactly what we sought to do with the 'Turn Up the Flavor' program.”
Despite the growing demand for processed potato products including mashed potatoes, French fries, and potato chips worldwide, several brands are focusing on the aesthetic aspects of their packaging to improve their presence. Furthermore, the focus on innovation and packaging comes hand in hand with the ‘snacking’ phenomena’ that can be particularly be seen amongst the millennials worldwide. In the current scenario, owing to the evolving consumer lifestyles around the world, the demand for convenience food or ‘snacks’ such as potato chips has witnessed exponential growth. The growing inclination towards consuming ready-to-eat snacks is a primary factor that is playing an imperative role in bolstering the sales of processed potato products in recent years.
Moreover, another glaring trend that has gained immense traction in the past few years is that of the demand for baked potato chips. Owing to the growing health awareness among consumers, preference for healthy snacks including organic potato chips and baked potato chips has consistently moved in an upward direction. Several brands have identified that aligning the packaging, designing, and branding ideas with the current ‘visual culture’ is an important step to gain ground in the highly competitive market landscape. Moreover, apart from the visual aspects of the product, brands including Lays have consistently invested in research and development to introduce new and unique flavor profiles to the market. Some of the most popular flavors include black pepper fries, garlic, zesty style fries, and more.
According to a new report published by Persistence Market Research, the global processed potato products market is expected to grow at a CAGR of ~4% between 2019 and 2029. The growing demand for ready-to-eat, ready-to-cook, and frozen food are some of the primary factors that are likely to boost the prospects of the processed potato products market in the upcoming years.