Rising demand for baked chips
According to Fact.MR, a market research and competitive intelligence provider, the global baked chips market is valued at US$ 33.8 billion in 2023 and is projected to reach US$ 66.6 billion by the end of 2033.
In comparison to fried chips, baked chips are supposedly healthier since they contain less oil. Salt, flavourings, oil, emulsifiers, and stabilisers are abundant in baked chips. The main distinction between these substances is that cutting-edge technology enables baking rather than deep-frying. Over the study period, rising preference for baked snack products and healthy food products is expected to drive global baked chips market growth.
Demand for healthy snacks such as baked chips is increasing as a result of more hectic work life and sedentary lifestyles. This is because snacks give rapid gratification and a break needed throughout a demanding day.
The market for baked chips is expected to be driven by the rising trend of consuming nutritious snacks sensibly to prevent the risk of chronic illnesses and maintain health & wellness. Millennials and working people are quickly adopting the on-the-go nutrition trend as they search for snacking options to address nutritional shortages and other health issues in their hectic schedules.
Key takeaways from market study
- The United States market for baked chips is expanding rapidly due to the presence of leading manufacturers in the country.
- Germany’s market is experiencing healthy growth due to the presence of a large consumer base for baked chips.
- Swiftly developing food and beverage industry in India is pushing the sales of baked chips.
- Supermarkets/hypermarkets are widely preferred shopping methods due to the presence of several food brands.
“Growing demand for baked chips is compelling manufacturers to introduce new flavours into the market,” says a Fact.MR analyst.
The existence of numerous national and international businesses that offer a wide variety of baked chip products and compete for market dominance has made the global baked chips market extremely competitive.
The producers have been concentrating on including various tactics to maintain their position as a result of the market’s increasing instability and rivalry. Innovation and the development of new products are some of the marketing tactics.
