New York, USA, May 02, 2023 (GLOBE NEWSWIRE) -- Baked Chips Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Baked Chips Market Information by Source, Functionality, Distribution Channel, And Region - Forecast till 2028"; the market will achieve USD 47.5 Billion by 2028 at a 6.5% CAGR.
Market Synopsis:
One of the widely consumed snacks by people worldwide is baked chips. Since they enhance people's quality of life, they have gained popularity as snacks, which gives the market the significant boost it needs to grow. They are also easy to make because the ingredients for baked chip recipes are widely accessible. Due to several factors, including accessibility, ways of life, and cultural preferences that affect consumer purchasing behavior and dietary habits and consequently increase consumer acceptance of baked goods, the market for baked chips is growing significantly. Consumers almost always eat whatever is offered, including salty snacks, candies, cookies, biscuits, chips, quick pasta, and other foods. The main causes of an excessive appetite are lifestyle modifications and rising disposable income.
The way people work and how much time they devote to social media are both under much stress today. With food, it is simple to focus on something else. The growing consumption of healthy snacks among those who work worldwide is another factor controlling the market because they help maintain the body's digestion and control hunger between meals. To meet the growing demand for baked goods, businesses operating in the studied market are now introducing various baked chip products. The primary manufacturers are focusing on releasing innovative products, such as low in carbohydrates and gluten-free cooked snacks, which have contributed to the growth of the baked chips industry. The positioning of food manufacturers and their goods around health has led to introduction of new healthy products like baked chips. The eating habits of consumers have changed significantly in recent years.
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Report Scope:
| Report Attribute | Details |
| 2028 Market Size | USD 47.5 Billion |
| CAGR | 6.5% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Source, By Functionality, By Distribution Channel, and By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Development of new products |
| The Introduction of new flavours |
Market Competitive Landscape:
The popular companies in the baked chips market are:
- Greendot Health Foods Pvt. Ltd. (India)
- Kettle Foods, Inc. (US)
- Calbee North America (US)
- Burts Potato Chips Ltd. (UK)
- Intersnack Foods GmbH (Germany)
- PepsiCo, Inc. (US)
- Popchips (US)
- General Mills (US)
- Frito-Lay (US)
- The Campbell Soup Company (US)
- Bare Snacks (US)
- Hippie Snacks (Canada)
- Kelloggs (US)
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Market U.S.P. Covered:
Market Drivers:
Manufacturers are also incorporating organic flavors and components into their seasoned potato chip products and coming up with novel combinations such as paprika, jalapenos, and sweet, sour cream flavors to significantly impact the market for baked chips, which is becoming increasingly popular, especially among millennials. The rise in worldwide demand for nutritious snacks that combine convenience and nutrition is expected to be the main driving force behind market growth for baked snacks. Additionally, it is anticipated that demand for baked snacks will increase in the coming years due to the rise in desire among different demographics around the globe to maintain optimal metabolism.
It is anticipated that the ability of baked snacks to reduce hunger between meals will increase product demand and support the growth of the baked chip industry. The need for low-calorie foods among consumers and their willingness to pay more for them are also driving the global market for baked chips, as are the emergence of a middle class, a growing economy, and an upsurge in urbanization.
Market Restraints:
Growing consumer demand for nutritious goods and awareness of the importance of living an active life and eating a healthy diet may slow market expansion. Additionally, it's thought that the poor supply chain and low availability of suitable storage across many nations will restrain market expansion. The market for baked chips may face difficulties due to a weak supply chain and insufficient infrastructure. As a result, market expansion may gradually slow down.
COVID 19 Analysis:
The pandemic had a minor negative effect on the market for baked chips. Small market losses resulted from the loss of the supply chains and supply channels in the early months of the pandemic; however, these damages were recouped in the later stages. In addition to hindering production facilities, the COVID-19 pandemic has also disrupted supply chains, including those of material manufacturers and distributors of the baked chips market worldwide, leading to a loss of business in value sales. Due to their health benefits, snacks are a common food that people consume all over the world. It is available in food products that can be consumed daily. Consumer demand for such a product is still strong. Additionally, the shift to digital media significantly impacted marketing and easy audience outreach. Therefore, the upcoming technological developments can boost the market's growth.
Browse In-depth Market Research Report (110 Pages) on Baked Chips Market: https://www.marketresearchfuture.com/reports/baked-chips-market-3244
Market Segmentation:
By functionality, the market includes organic, gluten-free, low calories, and low sodium.
By source, the market includes vegetables, fruits, cereals, and grains.
By distribution channel, the market includes store-based and non-store based.
Regional Insights:
The demand for convenience foods like snacks and growing health and fitness concerns drive the market for baked chips in North America. Additionally, the developed retail infrastructure in North America enables customers to buy groceries and food conveniently. This simple accessibility aids in the overall sales of practical goods like baked chips. Increasing demand for baked goods and shifting cultural preferences led to Asia-Pacific emerging as the baked chips market's largest revenue producer. This region will keep leading the market in the coming years thanks to the rising rates of consumer behavior changes toward healthy food and beverages and the awareness of lifestyle changes. To draw consumer interest to their products, the producers showcase their goods in the market, focusing on celebrity endorsement campaigns
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