Baked Chips Market Size, Revenue, Regional Portfolio, Gross Margin, Key Driven| Forecast
Market Overview
Baked chips are considered as one of the most popular snack products among the global consumers. The product is gaining massive acceptance globally owing to its healthy nature and the shifting inclination of consumers towards leading a healthy lifestyle. Add to this, baked chips contain low calorie level compared to fried chips, one which is expected to aid the overall growth of the market in the near future. According to a published report by Market Research Future (MRFR), the global Baked Chips Market Size is expected to grow at a notable fashion in the forthcoming years.
The growth of the global market is driven by numerous factors. New and innovative development of products by leading and emerging manufacturers in different flavors or types is expected to act as a key driving factor to the market growth. The changing consumer lifestyle coupled with the long working hours have curbed down their tendency of adopting to conventional meals or snacks. Consumers prefer or rather are more suitable for an on-the-go lifestyle. Various promotional events and programs are being laid out by various manufacturers to increase the awareness level among the consumers concerning the new offerings in the market. This acts as a key supporting factor to the growth of the market during the forecast period.
Market Segmentation
The global Baked Chips Market segmentation is classified into functionality, distribution channel, and source.
By functionality, the market comprises of organic, low sodium, gluten-free, low calories, and others.
By source, the market includes cereals, vegetable, grains, fruits, and others. The vegetable source segment is anticipated to hold a significant portion of the market during the forecast period. The vegetables segment holds the primal position in the Baked Chips Market due to its superior taste and economical prices.
By distribution channel, the market divides into non-store and store-based distribution channel. The store-based segment is narrowed down into specialty retailers, supermarkets & hypermarkets, convenience stores, and others. The store-based segment is forecasted to hold a major share of the market portion in this category over non-store-based channels.
Regional Analysis
The geographical segmentation of the global Baked Chips Market Size covers 4 key regions, namely Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Among these regions, the North American region holds the highest portion of the market as per the last study in 2017. The regional market is expected to dominate the global Baked Chips Market in the forthcoming years as well as per the report released by MRFR. The growth of the region and its dominance can be attributed to numerous key factors. One of the key factors identified behind this burgeoning growth is the hectic and busy lifestyle led by consumers. Add to this, there is a growing inclination towards leading a ‘on-the-go’ lifestyle, which is considered to be another key factor driving the market growth of baked chips in this region. Not to mention the announcements of various key players in the market concerning the launch of new products that is expected to improve the sales of baked chips in North America. The US accounts for a major portion of the North American regional market and is expected to be a major contributor in the forthcoming years as well.
Europe is also calculated to account for close to 30% of the market share in the global geographical diversification of baked chips. The demand for baked chips is surging at a rapid face in Europe due to the increasing acceptance and popularity of convenience food products.
Competitive Landscape
The global Baked Chips Market comprises a host of players, including Kelloggs (U.S.), Kettle Foods, Inc. (U.S.), Frito-Lay (U.S.), Popchips (U.S.), General Mills (U.S.), Greendot Health Foods Pvt. Ltd. (India), Calbee North America (U.S.), and others.
February 26th, 2019, Bare Snacks announced the introduction of a new line of baked and never-fried coconut and fried blends of chip, named NEW bare Medleys. The snack aims to blend two favorite yet distinctive flavors to bring-forward a delicious mix.
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