(MENAFNEditorial) Baked Chips Market Global Research Report by Source (Vegetable, Fruits, Cereals, Grains and others), Functionality (Organic, Gluten-Free, Low Calories, Low Sodium and others), distribution channel (store-based and non-store based) and Region – Forecast till 2023
Market Overview:
Baked chips are one of the popular snacks among the consumers worldwide. Baked chips are gaining huge acceptance among the consumers due to their increasing healthy lifestyles. Baked chips offer low calorie compared to the fried chips which are expected to create a favorable environment to increase the growth of the market.
The growth of the baked chips market is anticipated to be driven by various factors. New product development by key manufacturers in different flavors is expected to be the key drivers for the rising growth of baked chips market. Consumers are also inclined to adopt new products. Changing lifestyles of the consumers along with the long working hours have minimized the tendency of customers to adopt traditional meal. So, consumers are opting for an 'on the go lifestyle. Key manufacturers are emphasizing in the various promotional events to increase awareness regarding their new offerings among the consumers which supports to increase the growth of baked chips market during the forecast period. Moreover, the mounting growth of the organized retail sector is also creating a massive opportunity for the baked chips manufacturers.
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Top Key Players Analysis:
Some of the key players profiled in the global baked chips market: Frito-Lay (U.S.), Kettle Foods, Inc. (U.S.), Greendot Health Foods Pvt. Ltd. (India), Kelloggs (U.S.), Popchips (U.S.), Calbee North America (U.S.), General Mills (U.S.)
Key Findings:
North America is expected to account for approximately 50% of the market proportion in the year of 2017
Key players are introducing new baked chips in different flavors to increase the volume sales and which will enhance the overall revenue of the company
Manufacturers are emphasizing in the innovative packaging in order to attract more customers
Segments:
The global baked chips market is segmented into the source, functionality, and distribution channel
On the basis of the source, it is segmented into Vegetable, Fruits, Cereals, Grains, and others. Among all the sources, vegetables are expected to account for the significant market proportion in the global baked chips market during the forecast period. Due to better taste & economical prices, vegetables turned out to be one of the lucrative sources of baked chips.
On the basis of the functionality, it is segmented into organic, gluten-free, low calories, low sodium, and others
On the basis of the distribution channel, it is segmented into store-based and non-store based. The store-based segment is estimated to account for the major market proportion in the global baked chips market. The store-based distribution channel is further segmented into supermarkets & hypermarkets, convenience stores, specialty retailers, and others. Among the store based distribution channel, supermarkets & hypermarkets are holding a major market share. However, non-store based distribution channel is anticipated to observe substantial growth during the forecast period of 2017-2023.
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Regional Analysis
The global baked chips market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Among all the region, North America region is estimated to hold the significant market proportion in the year of 2017, and the trend is expected to continue throughout the forecast period of 2017-2023. The growth of the baked chips market in North America region is attributed to various factors. One of the important factors for the rising growth of baked chips is the hectic lifestyles of the consumers. Also, increasing consumer inclination towards the 'on the go lifestyle is considered to be the significant factors for the rising growth of baked chips market in North America region. Also, key players of baked chips market are announcing new products which are expected to enhance the sales of baked chips in the North America region. Among the North American countries, the U.S. is expected to account for major market proportion in the year of 2017, and it is estimated to retain its dominance throughout the review period of 2017-2023. Europe is also estimated to account for 30% market share in the global baked chips market. The demand for baked chips is expanding at a high pace owing to the huge acceptance of convenience food.
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