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 billion in 2023 to US$ 22.8 billion by 2033.
According to the latest research by Future Market Insights, veggie chips is set to witness steady growth during the forecast period 2023-2033. Consumers all over the world are trying to turn to healthier food items like veggie chips, which are ready-to-eat products and help satiate hunger. Thus, the global veggie chips market is growing due to rising customer preferences for snacking and ready-to-eat food products.
Manufacturers must produce chips either by modifying their manufacturing process or by adding healthier ingredients as the number of health-conscious customers grows. One of the key factors driving the demand for these products in the coming years will be the increasing demand for low-calorie chips. Chips manufacturers must concentrate on fat reduction, optimal frying conditions, and the use of specific starches and emulsifiers to meet the demand of consumers.
The growing demand for gluten-free and non-GMO snacks is expected to drive the demand for these products and it will provide major opportunities for veggie chip manufacturers.
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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)
About FMI
Future Market Insights (ESOMAR certified 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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