The worldwide baked chips market is predicted to be worth $33.8 billion in 2023 and $66.6 billion by 2033. Over the next ten years, global demand for baked chips is expected to grow at a 7% CAGR.
Baked chips are gaining popularity worldwide owing to its health benefits such as reduced calorie content, no oil, and more. Product sales are likely to expand fast as they become a popular snack alternative throughout the world. Baked chips are very simple to make because basic components are readily available.
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The baked chips market is quickly rising as a consequence of numerous factors, including the easy availability of favored snacks, changing lifestyles, and the acceptance of healthy snack items. All of these factors influence customer purchasing behavior and nutritional choices, which leads to a rise in the acceptance of baked snack items.
Another reason driving demand for baked chips is the growing intake of nutritious snacks among the working population globally, which helps to regulate the body’s metabolism and minimize appetite between meals. Consumers’ increasing desire for low-calorie items, as well as their willingness to pay more for them, are driving baked chip sales.
Competitive Landscape:
Some of the prominent companies in the baked chips market are The Kelloggs Company, Hippie Snacks, Bare Snacks, The Campbell Soup Company, PepsiCo Inc., and Intersnack Foods GmbH. Leading players in the baked chips industry are launching chips produced from various fruits and with novel tastes to fulfill the rising demand for baked chips products.
In June 2022, Bare Baked introduced their new pineapple-baked chip product.
Snack food companies like Pepsico and Brewer’s Foods are introducing all-natural flavors and substances into their baked potato chip products, as well as coming up with creative combinations like jalapenos, paprika, and sour cream, savory flavors to significantly impact the growing popularity of baked chips, particularly among young people.
Key Players:
- The Kelloggs Company
- Hippie Snacks
- Bare Snacks
- The Campbell Soup Company
- PepsiCo Inc.
- Intersnack Foods GmbH
- Burts Potato Chips Ltd.
- Calbee North America
- Mondelez International Inc.
- Kettle Foods Inc.
- Frito-Lay
- General Mills
- Popchips
- Greendot Health Foods Pvt. Ltd.
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Regional Analysis:
The Asia Pacific baked chip market is rapidly expanding due to several factors, including growing consumer preferences for gluten-free baked chip products, a willingness to try new flavors and variations such as low-fat protein snacks and non-potato veggie chips, and the consumption of chips with a moderate salt content.
Customers are also looking for baked chip products that are devoid of chemicals and preservatives, gluten-free, and made with a larger proportion of organic or clean-label ingredients. Although there has been an increase in gluten-free claims in Asian countries such as India, China, and Japan due to people’s allergies to gluten products, which can cause serious health problems, some countries have established regulatory standards that manufacturers must follow when launching gluten-free baked chip products.
Key Segments of Industry:
- By Source :
- Fruits
- Vegetables
- Grains
- Others
- By Flavor :
- Salted
- Classic
- Barbecue
- By Distribution Channel :
- Supermarkets/Hypermarkets
- Pharmacies/Drug Stores
- Online Stores
- By End User :
- Households
- Restaurants & Cafes
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