The global baked chips market is predicted to grow at a healthy CAGR over the forecast period, states the new Market Research Future (MRFR) report. Baked chips, simply put, are low-fat substitutes for fried chips. This is a lighter variety that offers the same taste and crunch as traditional chips but without greasy hands and fat. Baked chips represent a healthy lifestyle option and offer beneficial nutrients to the body. It has healthy fat content, which is good for the heart as opposed to deep-fried chips that boost the risk of heart disease.
Baked chips are generally made of vegetables, fruits, grains, and cereals and come in various exciting flavors such as tomato, masala, BBQ, chaat, pepper, chili lime, carrot, coconut, chocolate and more to satisfy the different taste buds.
Various factors are propelling the baked chips market growth. These factors, as stated by the latest Market Research Future (MRFR) report, include long working hours and changing lifestyles of consumers, consumers inclination to try new products, launch of new products in new exciting flavors, increasing growth of the retail sector, and various promotional events organized by key manufacturers to boost awareness about their new offerings. Additional factors pushing market growth include consumers choosing on the go lifestyle, rising disposable income, growing number of nuclear families, availability of attractive and convenient packaging, and increasing expenditure on convenient food.
On the flip side, high levels of potassium, sodium, and a form of a carcinogen called acrylamide are factors that may impede the baked chips market growth over the forecast period. Besides, the levels of preservatives, chemicals, and trans-fat to boost its shelf life in most Indian snacks are quite high, which may deter market growth.
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The Market Research Future report provides an all-inclusive segmental analysis of the baked chips market on the basis of functionality, distribution channel, and source.
Based on the source, the baked chips market is segmented into grains, fruits, vegetables, cereals, and others. Of these, the vegetable segment will lead the market over the forecast period on account of economical prices and good taste.
Based on functionality, the baked chips market is segmented into low sodium, gluten-free, low calories, organic, and others.
Based on the distribution channel, the baked chips market is segmented into store and non-store based. The store-based segment is again segmented into convenience stores, supermarkets and hypermarkets, specialty retailers, and others. Of these, supermarkets and hypermarkets will dominate the market over the forecast period, followed by the non-store segment, which is predicted to have an impressive growth over the forecast period.
By region, the baked chips market report has been segmented across the Asia Pacific, Europe, North America, and the Rest of the World. Of these, North America will command the largest share in the market over the forecast period. Factors attributing to the growth include consumers’ hectic lifestyles, increasing inclination of consumers for “on the go” lifestyle, and key players launching new products. The US is the chief contributor in this region.
The baked chips market in Europe is predicted to have a striking growth over the forecast period chiefly on account of the increasing acceptance of convenience food.
The baked chips market in the APAC region is predicted to grow at the fastest pace over the forecast period while that in the Rest of the World is predicted to have stable growth.
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Major players profiled in the baked chips market report include General Mills (US), Calbee North America (US), Popchips (US), Kelloggs (US), Greendot Health Foods Pvt. Ltd. (India), Kettle Foods, Inc. (US), and Frito-Lay (US). Key players have used different strategies to stay ahead in the competition, such as new product launches, collaborations, joint ventures, and more.
July 2019: ITC has entered the segment of baked chips with Bingo Starters. Made from pulses, it will be available in four exciting flavors of minty, peppery, masala, and chatpata.
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