Market Analysis
The global baked chips market is projected to have a substantial growth at a promising CAGR over the assessment period (2017-2023). Baked chips are low fat alternative to fried chips but this lighter variety will impart the same crunch and taste as that of traditional chips yet sans greasy hands and fat. Being lower in sodium these chips will be the most ideal snack when one craves for something crunchy.
There are many factors that is driving the growth of the baked chips market. Some of these factors as per the Market Research Future (MRFR) report include new innovations of products by leading manufacturers in various flavors, changing lifestyles, trend for on-the-go lifestyle, rising disposable income, promotional events for awareness and mounting growth of organized retail sector. Apart from this there are more factors that are driving the growth of the market such as increasing number of nuclear families, rise in expenditure on convenient food, availability of baked chips in exotic flavors and in convenience and attractive packaging,
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the baked chips market on the basis of source, functionality and distribution channel.
Based on source, it is segmented into grains, cereals, fruits, vegetables and others. Of these, the vegetables segment will have the maximum share in the market over the assessment period owing to economic prices and better taste.
Based on functionality, the baked chips market analysis is segmented into low sodium, low calories, gluten-free, organic and others.
Based on distribution channel, it is segmented into non-store and store based. Of these, the store-based is projected to have the maximum share in the market. The store-based is further segmented into supermarkets and hypermarkets, specialty stores, convenience stores and others. Of these, supermarkets and hypermarkets will lead the market while the non-store segment is likely to have a substantial growth over the assessment period.
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Regional Analysis
Based on region, the baked chips market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will lead the market over the assessment period and is expected to retain its position. The factors that can be attributed to the growth of the market in this region include increasing consumption of baked chips by consumers due to hectic lifestyles, the inclination for on-the-go lifestyle, and key players announcing new products and others. US will be the major contributor here and is predicted to hold a major proportion in the baked chips market over the assessment period and is predicted to hold dominance. North America is followed by Europe which has the second largest share and is estimated to have about 30% share in the baked chips market. The factors that can be attributed for the growth of this market in this region include enormous acceptance of convenience food.
Competitive Analysis
The global baked chips market is competitive and highly fragmented with the key players adopting various strategies such as introducing flavor innovations to boost up their footprint and gaining traction.
Key Players
Leading players profiled in baked chips market include General Mills (U.S.), Calbee North America (U.S.), Popchips (U.S), Kelloggs (U.S.), Greendot Health Foods Pvt. Ltd. (India), Kettle Foods, Inc. (U.S.), and Frito-Lay (U.S.).
Oct 2018-Leading plant-based food company, Hippie Snacks has added 4 latest savory snacks in its lineup- Avocado Crisps in Sea Salt and Guacamole and Cauliflower Crisps in Classic Ranch and Original flavors. This is the first ever brand in North America that has come up with baked chips using real cauliflower.
June 2018- Maker of Snacks Gone Simple, Bare Snacks has launched its latest variety of crunchy and delicious veggie chips: sweet potato chips, carrot chips and beet chips. Staying true to the philosophy “less is more” these chips are created with real vegetables which are baked but not fried. It is sans oil, preservatives and artificial ingredients. Every variety is an excellent source of fiber, gluten-free and Non-GMO Project.
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