During the projected period, Veggie Chips market is expected to grow at a CAGR of 6.2%. The market value is projected to increase from US$ 12.5 from US$ 22.8 billion in 2033 to US$ billion in 2023.
As per the most recent research conducted by Future Market Insights, there is a projected continuous increase in the vegetable chip industry between 2023 and 2033. Globally, consumers are attempting to switch to ready-to-eat, healthy foods like veggie chips that help satisfy hunger. As a result, expanding consumer preferences for snacking and ready-to-eat food products are driving growth in the global veggie chip market.
As more consumers become health-conscious, chip manufacturers must either improve their manufacturing processes or incorporate healthier chemicals. The rising need for low-calorie chips will be one of the main drivers of this product’s demand in the upcoming years. To satisfy consumer demand, chip makers need to focus on reducing fat content, using the right frying temperatures, and using certain starches and emulsifiers.
It is anticipated that consumers’ increased desire for non-GMO and gluten-free snacks will fuel demand for these goods and present significant business prospects for producers of veggie chips.
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Food manufacturers have introduced new types of veggie chips for consumers with the help of new technologies. Longer shelf life of raw materials for the manufacture of these products has resulted from advancements in vegetable processing and dehydration and making it more accessible to consumers. Thus, helping in driving the demand for these products.
Key Factors Which Will Drive Sales of Veggie Chips
High intake of carbohydrate-rich snacks with low nutritional value has raised health risks to customers, including an increase in blood sugar levels and obesity. As a result, customers are gravitating toward healthier food options such as veggie chips. They are low-sodium snacks that are high in vitamins and dietary fibres and this will help in driving its sales.
There has been increasing demand for different flavours of veggie chips from the consumers. Therefore, manufacturers have been experimenting with various flavours to meet the demand of the consumers and expand their customer base, and this will also boost its sales across the globe.
The US and Canada Veggie Chips Outlook
Due to the high concentration of significant players that cater to the growing demand for veggie chips among consumers, U.S and Canada are expected to remain a lucrative area for the growth of the veggie chips market. Furthermore, technological advances have affected the processing and packaging of food items, resulting in a surge in its sales in the U.S and Canada.
Europe Demand Outlook of Veggie Chips
The demand for these products in Europe is benefiting from a strong distribution channel. In Europe, the veggie chips market is expected to expand rapidly in supermarkets and hypermarkets that offer exclusive deals, discounts, and combos.
The rising demand for nutritious food snacks is estimated to increase the demand for veggie chips in Europe. Furthermore, the changing lifestyle and eating habits of consumers in Europe are expected to propel the global veggie chips market forward.
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Who are the Key Suppliers of Veggie Chips
Some of the key market players involved in the veggie chips are
- The Better Chip
- Wai Lana Production
- Hain Celestial
- Sensible Portions
- Aib Foods
- Popchips
- Calbee
- Snikiddy
- The Forager Foods
- Pepsico
- Seeberger
- Zweifel
- Nehf
- Our Little Rebellion and Others
Owing to the involvement of many producers, the vegetable chip market is highly fragmented. Pricing, new product releases, product line extensions, strategic partnerships, and promotional campaigns are all areas where several foreign and regional players compete. To maintain the competitive climate of the veggie chips market, key market players must differentiate their product through a specific and consistent value proposition.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Veggie chips Segmentation
Segmented based on Source:
- Root Vegetable Chips (Carrot Chips, Turnip Chips, Sweet Potato Chips and Others)
- Leafy Vegetable Chips (Kale Chips, Spinach Chips)
- Others
Segmented based on Type:
- Vegetable Chips
- Extruded Vegetable Chips
- Others
Segmented based on Flavour:
- Classic Salty
- Cheese & Onion
- Barbecue
- Salt & Pepper
- Jalapeno
- Others
Segmented based on End-Use:
- Household
- Food Service
Segmented based on Distribution channel:
- Supermarket/Hypermarket
- Convenience stores
- Specialty Stores
- Online Stores
- Others
Segmented based on Region:
- North America (U.S, Mexico and Canada)
- Europe (the U.K, Germany, Italy and France)
- Latin America (Brazil, Argentina)
- Asia Pacific (India, Australia and Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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