The global vegetable chips market to grow at a CAGR of 9.81% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global vegetable chips market for 2017-2021. To calculate the market size, the report considers the revenue generated through the sales of potato chips through various retail outlets and foodservice establishments that include but are not limited to hypermarkets, supermarkets, convenience stores, independent retailers, discount stores, warehouse clubs, and others. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Innovative product offerings. The vegetable chips manufacturers are offering products that are considered to be better-for-you as many vegetables fall under superfoods category. The demand for functional and non-GMO ingredients is high due to the rising cases of obesity, diabetes, gluten allergy, and other related diseases.
In 2017, Burts Potato Chips launched new better-for-you crisps: Lentil Waves and Quinoa Crinkles in two new flavors - Sweet Pepper & Chorizo and West country Cream Cheese. Similarly, KETTLE FOODS launched a new variety of vegetable chips made of parsnip, sweet potato, and beetroot.
According to the report, one of the major drivers for this market is Changing taste preferences. Manufacturers introduce new flavors of vegetable chips to expand their consumer base. The major flavors of vegetable chips around the world are roasted or toasted, barbeque, spice, and beef. Many players try to differentiate their products based on flavor; hence, it is an important component of vegetable chips. Barbeque is the predominant flavor in North America and Europe. The demand for this flavor is slowly picking up in APAC and is expected to grow moderately over the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Price fluctuations of vegetables. In recent years, the increasing gap between demand and supply has increased the cost of raw materials like vegetables. Increase in the price of raw materials, such as corn, vegetables, and nuts, not only increases the manufacturing cost but also leads to reduced profit margins for vendors. This factor and the need to remain competitive in the market, influence manufacturers to experiment with poor-quality substitutes. In addition, raw material suppliers have the power to set price in this market.
OUR LITTLE REBELLION
Other prominent vendors
The Forager Foods
The Better Chip
Wai Lana Productions
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Customer Landscape
Part 09: Market Segmentation By Application
Part 10: Market Segmentation By Distribution Channel