The veggie chips market is estimated to secure a valuation of US$ 12.5 billion in 2023 and is estimated to rise to US$ 22.8 billion by 2033, according to Future Market Insights. The market is anticipated at a CAGR of 6.2% during the forecast period. The factors accelerating the demand for veggie chips are as follows-
Veggie chips are gaining immense popularity as they are delicious and healthier as compared to fried chips. The growing consumer inclination toward healthier snacks option and plant-based food is expected to boost market growth during the forecast period.
The wide availability of veggie chips in different flavors like carrot, sweet potato, spinach, turnip, and beetroot in grocery stores and supermarkets is driving the sales of the veggie chips market.
Other factors driving the growth of the veggie chips market are increased urbanization and increased consumer inclination towards nutritious and natural ingredient food products.
On the regional end, the veggie chips market in North America is expected to account for the maximum share during the analysis period. the regional market is expected to grow in coming years, driven by increasing demand for natural and organic food products, and the availability of different types of nutritious food snacks. Europe dominates the veggie chip market owing to the increased health awareness among the growing population along with the easy availability of different varieties of veggie chip products.
On the other hand, in veggie chips market in the Asia Pacific is witnessing significant growth in recent years, driven by factors such as the increased trend of snacking, and increased availability of veggie chips in the region.
Some of the key players involved in the veggie chips market are better chip, Wai Lana Production, Hain Celestial, Sensible Portions, Aib Foods, Popchips, Calbee, Snikiddy, The Forager foods, Pepsico, see burger, Zweifel, Nehf, and Our Little Rebellion among others.
Veggie chip manufacturers are doing product innovation, mergers, acquisitions, and expanding their business capabilities to capture the maximum share of the market globally. Also, the manufacturers are investing in research and development and offering natural and flavored veggie chips. New flavors like beetroot and sweet potato are attracting more consumers.
For instance, the sensible portion introduced Garden Veggie Wavy chips crafted with a unique texture and flavor. These wavy chips are crunchy and combined with the delicious taste of cheddar and sour cream can be enjoyed without cream.
The veggie chips market is expected to gain traction in the coming years with growing consumer awareness about the nutrition and fat contained snack food products. Due to the increased demand for low-carb, low-fat, gluten-free, vegan food products globally, new start-ups are entering the veggie chips market with some innovative flavors in veggie chips.
Founded in 2012- farm wise foods is a brand of veggie chips such as veggie fries, veggie tots, and veggie rings all these are made of all-natural and made from fresh vegetables.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 12.5 billion |
| Projected Market Value in 2033 | US$ 22.8 billion |
| Growth Rate (2023 to 2033) | CAGR of 6.2% |
Consumers all over the world are trying to turn to healthier food items like veggie chips, which are ready-to-eat products and help satiate hunge. Thus, the global veggie chips market is growing due to rising customer preferences for snacking and ready-to-eat food products.
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Manufacturers must produce chips either by modifying their manufacturing process or by adding healthier ingredients as the number of health-conscious customers grows. One of the key factors driving the demand for these products in the coming years will be the increasing demand for low-calorie chips.
Chips manufacturers must concentrate on fat reduction, optimal frying conditions, and the use of specific starches and emulsifiers to meet the demand of consumers.
The growing demand for gluten-free and non-GMO snacks is expected to drive the demand for these products and it will provide major opportunities for veggie chip manufacturers.
Food manufacturers have introduced new types of veggie chips for consumers with the help of new technologies. Longer shelf life of raw materials for the manufacture of these products has resulted from advancements in vegetable processing and dehydration and making it more accessible to consumers. Thus, helping in driving the demand for these products.
High intake of carbohydrate-rich snacks with low nutritional value has raised health risks to customers, including an increase in blood sugar levels and obesity. As a result, customers are gravitating toward healthier food options such as veggie chips. They are low-sodium snacks that are high in vitamins and dietary fibres and this will help in driving its sales.
There has been increasing demand for different flavours of veggie chips from the consumers. Therefore, manufacturers have been experimenting with various flavours to meet the demand of the consumers and expand their customer base, and this will also boost its sales across the globe.
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Due to the high concentration of significant players that cater to the growing demand for veggie chips among consumers, USA and Canada are expected to remain a lucrative area for the growth of the veggie chips market. Furthermore, technological advances have affected the processing and packaging of food items, resulting in a surge in its sales in the USA and Canada.
The demand for these products in Europe is benefiting from a strong distribution channel. In Europe, the veggie chips market is expected to expand rapidly in supermarkets and hypermarkets that offer exclusive deals, discounts, and combos.
The rising demand for nutritious food snacks is estimated to increase the demand for veggie chips in Europe. Furthermore, the changing lifestyle and eating habits of consumers in Europe are expected to propel the global veggie chips market forward.
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Some of the key market players involved in the veggie chips are
Owing to the involvement of many producers, the vegetable chip market is highly fragmented. Pricing, new product releases, product line extensions, strategic partnerships, and promotional campaigns are all areas where several foreign and regional players compete. To maintain the competitive climate of the veggie chips market, key market players must differentiate their product through a specific and consistent value proposition.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Veggie Chips Market
