Zero calorie chips are increasingly becoming popular among millennial consumers owing to variety of taste and manufacturing that employs non-GMO ingredients. The global zero calorie chips market is expected to grow at a dexterous 7% CAGR during the forecast period (2020-2030). Consumer awareness about health hazards of traditional snacks propel the demand for zero calorie chips. Advancements in food manufacturing enable market players to introduce nutritional elements in everyday snacks. Prevalence of zero calorie chips points to the increasingly busy lifestyles that millennial consumers follow. On the back of these factors the zero calorie chips market will continue to produce remunerative opportunities throughout the forecast period.
Key Takeaways of Zero Calorie Chips Market Study
- Puff chips lead the product type segment with more than 1/4th of total market share.
- Healthy potato chips are the most in demand 1/4th market share coupled with a healthy growth rate.
- North America maintains share-wide dominance accounting for 1/4th of the total market value.
- Middle East & Africa accounts for 17% market share which makes it the second most dominant region when dividing the global market.
- East Asia offers the most gainful opportunities for market players with a double digit growth rate throughout the forecast period.
- Direct to consumer distribution channels account for a majority of market share with over 40% of global sales coming from this segment.
- Online stores will offers lucrative growth opportunities on the back of internet savvy millennial consumers.
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Market players stand to gain from introduction of flavors and nutritional elements. Prevailing consumer trends warrant manufacturers to employ advanced technology and enhance their offerings in organic and non-GMO food products. -Says FMI Analyst
Digital Distribution will Dictate Sales
Online channels of distribution will prevail as the most remunerative channels for sales in the market. Millennial consumers are likely to support this growth owing to their comfort with purchasing products online. Another factor that influences the growth of this market is government regulations and quality standards. Statutory bodies such as the US Food and Drug Association (USFDA) are lobbying manufacturing trends and establishing stringent quality standards. Hence, market players must be diligent in production and marketing of zero calorie chips.
Who is wining?
The competitive landscape is fragmented into multinationals and national manufacturers. Major players that influence global growth trends are The Kellogg Company, Mission Foods, Tastemorr Snacks, Shearer’s Snacks, Herr’s Food, Inc., Snyder’s-Lance, Inc., Popchips, ARA Food Corporation, General Mills Inc., BFY Brands, Frito-Lay North America, Inc., and Deep River Snacks.
What does the future hold?
The future of zero calorie chips is innovation in food technology. Market players can garner meteoric growth on the back of nutritional value and variety of flavors. Dietary trends will offer directions to manufacturers about consumer demands and growth prospects.
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Future Market Insights has published a market research report on the zero calorie chips market, which contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. This report provides an unbiased analysis of the zero calorie chips market through crucial segments – product type, distribution channel, and region. The zero calorie chips market report also provides demand trends and opportunities of different types across industry verticals, a comprehensive list of service providers in the market, various projects around the world, and a detailed overview of the parent market.
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