SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- The global fruit and vegetable chips marketsize is expected to reach USD 78.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028. Consumers' interest is shifting towards heal thier snacking alternatives over conventional fried snacks as they help in fulfilling the nutritional gap. The increasing prevalence of health issues such as obesity and rising focus towards clean and healthy eating is expected to drive the market.
Consumers are increasingly becoming aware of the negative impacts of fried snacks on their health as they contain high amounts of saturated fats and calories. Moreover, increasing innovative launches by product manufacturers with plant-based ingredients and veggies is augmenting market growth.
Key Insights & Findings from the report:
Asia Pacific is expected to contribute a majority of the share to become the largest market in 2020. Consumers eating preferences in China has shifted towards healthy snacks that are preservative-free and contain minerals
The mix vegetable chips segment is projected to register the fastest CAGR of 7.3% from 2021 to 2028 as consumers prefer to eat chips containing more vegetables rather than be limited to only a single vegetable
The apple fruit chips segment is expected to register significant growth during the forecast period. Apple chips in dried form fulfill the demand for a quick and filling snacks, which is driving its growth
The online segment is expected to register a CAGR of 6.6% from 2021 to 2028 owing to the shifting consumer's shopping patterns.
Under vegetable chips, potato chips held the largest share in 2020. The high consumer preference for potato chips and rising availability of it in novel flavors and gluten-free range is likely to drive its demand. The growth is supported by product launches by most recognized brands. For instance, in July 2021, Frito Lay launched its new range of potato chips Doritos Cool Ranch and Funyuns Onion.
The fruit chips segment is expected to exhibit a higher CAGR from 2021 to 2028. Consumers are seeking new and innovative ways to enjoy their daily intake of fruits, which is shifting their inclination towards functional and sustainable fruit chips. Constant product launches are driving the segment growth. For instance, in July 2021, RIND Snacks, Inc launched its new range of thin-cut fruit chips in exotic flavors of oranges, kiwis, and apples. The product offers with benefits of natural fiber, and vitamins and antioxidants.
The market is consolidated in nature with the presence of a large number of international players and a few regional players. Luke's Organic, PepsiCo, The Kellogg Company, Calbee North America, Seneca Foods Corp., Hain Celestial, Herr Foods Inc., Campbell Soup Company, Utz Brands, Inc., Greenday are the prominent players in the global market.
Grand View Research has segmented the global fruit and vegetable chips market on the basis of product, distribution channel, and region:
Fruit & Vegetable Chips Product Outlook (Revenue, USD Million, 2016 - 2028)
Fruit & Vegetable Chips Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Fruit & Vegetable Chips Regional Outlook (Revenue, USD Million, 2016 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Fruit and Vegetable Chips Market
Organic Chips Market– The global organic chips market size was valued at USD 14.2 billion in 2018 and is expected to expand at a healthy CAGR over the forecast period. Growing health awareness and demand for chemical-free food products are the major factors propelling market growth.
Chia Seeds Market– The global chia seeds market size was valued at USD 1.14 billion in 2018 and is said to expand at a CAGR of 22.3% from 2019 to 2025. Rising demand for gluten-free products, awareness about the health benefits and usage of omega 3 in animal feed are some of the prominent factors driving the growth.
Kale Chips Market– The global kale chips market size was value at USD 122.43 million in 2018 and is expected to register a CAGR of 19.0% from 2019 to 2025. Growing health consciousness and inclination toward healthy snacks are expected to drive the growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.