Baked Chips Market Research Future Insights
Baked Chips Market is expected to register a CAGR of ~ 6.50% from 2023 to 2032 and hold a value of over ~USD 49.70 billion by 2032.
Baked chips are one of the prevalent snacks broadly consumed by people from across the world. They are emergent as a popular snack as they are serving in enhancing the lifestyle of people. Along with that, it is providing the substantial push required for market growth.
Also, they are easy to make as all the vital raw materials required for baked chips are easily available. Along with that, they are informal to pack and have a long shelf life. This quality makes baked chips makes a lucrative investment for the key players. However, North America is evaluated to hold the largest market share in the studied forecast period. The COVID-19 pandemic had a mixed effect on the Baked Chips Market outlook. It stopped the manufacturing process, and the supply chain was also hindered due to lockdowns. However, it helped numerous small companies to open their business and meet the demand for baked chips across the world. Along with that, the digital shift also played the main role in marketing and reaching out to the audience without much hustle. Therefore, the imminent technological advancements can help the market to enhance its growth.
Key Players
Some of the key market players are Popchips (US), General Mills (US), Greendot Health Foods Pvt. Ltd. (India), Kettle Foods Inc. (US), Burts Potato Chips Ltd. (UK), Intersnack Foods GmbH (Germany), PepsiCo Inc. (US), The Campbell Soup Company (US), Bare Snacks (US), Hippie Snacks (Canada), Kelloggs (US), and Calbee North America (US).
Market Segmentation
The global Baked Chips Market insights has been segmented into functionality, source, and distribution channel.
Based on functionality, the global Baked Chips Market is segmented into Low Sodium, Low Calories, Gluten-Free, Organic, and Others. The low calories segment accounted for the faster-growing share due to the consumer are become more consult about health.
Based on the source, the global Baked Chips Market is segmented into Cereals, Grains, Fruits, Vegetables, and Others. The vegetable segment is predicted largest share in the market during the forecast period owing to a healthy lifestyle.
Based on the distribution channel, the global Baked Chips Market is segmented into Non-Store Based and Store-Based. Besides, the store-based sub-segment is segmented into Hypermarkets and Supermarkets, Specialty Retailers, Convenience Stores, and Others. It is expected that Hypermarkets and Supermarkets will hold the largest share of the market during the forecast period.
Regional Analysis
It is expected that North America will have the largest Baked Chips Market Share during the forecast period. Important factors such as the increasing adoption of "on the go" items due to a busy schedule are promoting the market growth in his region. Also, the huge presence of several key players in countries such as Canada and the US is an important driver for this region.
Europe is projected to hold the second-largest growth with a 30% share of the total market. Owing to the high demand for baked chips and the use of convenience food, the Baked Chips Market will witness positive growth.
The Asia-Pacific region is evaluated to hold the fastest growth during the forecast period. The increasing existence of hypermarkets and supermarkets and the strengthening of distribution channels will fuel the market growth in this region. Also, the accessibility of different flavors is projected to enhance the Market Growth. Furthermore, Africa and the Middle East region are also projected to record robust growth in the imminent years.
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