Global demand for baked chips predicted to increase
The global baked chips market is expected to reach US$ 66.6 billion by 2033 from US$ 33.8 billion in 2023.
Growth of the baked chips market is expanding rapidly as a result of several variables, including the availability of preferred snacks easily, changing lifestyles, and the adoption of healthy snack products, according to analysis by FACT.MR
Growing consumption of healthy snacks among the working population worldwide is another factor boosting the demand for baked chips because they are seen as helping to regulate the body’s metabolism and reduce hunger between meals. Consumers are also willing to spend more money on low-calorie foods such as baked chips over deep-fried ones in search of healthier options.
Consumers are purchasing baked chips due to health consciousness and seeking nutritious snacks with the addition of functional ingredients including fibres, nutrients, and antioxidants in diets. The major competitors are therefore producing chips in a baked form that is low in calories, low in saturated fats, and additive-free when using natural or organic substances.
FACT. MR finds the competitive landscape changing with The Kelloggs Company, Hippie Snacks, Bare Snacks, The Campbell Soup Company, PepsiCo Inc., and Intersnack Foods some of the key players in the baked chips market.
To meet the growing demand for baked chips products, leading companies in the baked chips market are introducing chips made from various fruits and with new flavours. Examples include Bare Baked who launched its brand new pineapple-baked chip product in June 2022.
Snack food producers such as Pepsico and Brewer’s Foods are introducing all-natural flavours and substances into their baked potato chip products as well as coming up with creative combinations such as jalapenos, paprika, and sour cream, savoury flavours to significantly impact the growing appeal of the baked chips, particularly among young people.
In June 2021, the pea-based snack company Peatos introduced tortilla-style chips in three flavours: zesty ranch, nacho cheese, and vegan fiery nacho. The goods were created as a more wholesome alternative to Doritos.
