Fruit And Vegetable Chips Industry Overview
The global fruit and vegetable chips market size was valued at USD 47.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028.
The demand for fruit and vegetable chips is supported by shifting inclination towards convenient, functional, and flavored on-the-go snacks. Heal thier snacking and plant-based diets is emerging trend among health-conscious consumers, which is also expected to offer a significant boost to market growth. The COVID-19 pandemic positively impacted the demand for fruit and vegetable chips. The change in lifestyles and a shift in inclination towards fruit and vegetables in the form of chips, and snacks is presumed to rise in the coming years.
Gather more insights about the market drivers, restrains and growth of the Global Fruit And Vegetable Chips Market
Consumers are seeking convenient, ready-to-eat, and health-oriented snacks, which are offering enormous growth prospects to the market for fruit and vegetable chips. Millennials and health-conscious adults are even willing to pay a higher price for convenient and healthier snacks. In June 2021, the National Online Consumer Survey reported that nearly 31.0% of consumers have been seeking snacks that contain vitamins and minerals due to the outbreak of the pandemic.
In the U.S., the prevalence of health issues including obesity, diabetes has been on the rise owing to factors such as stress, and a sedentary lifestyle. Moreover, obesity has been reported as a public health crisis in America. According to the Trust for America's Health, The U.S. adult obesity rate stood at 42.4% in 2020, which has increased by 26% since 2008. These demographic trends are encouraging an increasing number of consumers to shift towards healthier snacking alternatives and maintain a healthy weight.
Excessive consumption of fried snacks is considered harmful as they contain high amounts of cholesterol and calories. This has resulted in shifting consumer inclination towards plant-based snacks and snacks with no-grain ingredients such as chia seeds, carrots, and sweet potato among others. Moreover, fruit and vegetable chips are gaining immense popularity as they are delicious and healthier compared to fried chips. Such instances are expected to offer a significant boost to market growth in the upcoming years.
As per an article published in the American Journal of Agriculture Economics in November 2020, the demand for fresh fruit and vegetables has increased during the pandemic, which is driving the product adoption and is likely to boost the overall market growth in the coming years.
Several product manufacturers are reviving the production of raw materials, supply chain and launching a healthier version of these snacks to cater to the rising demand from consumers. For instance, in June 2021, Terra brand launched three new vegetable chips in flavors including sour cream and onion, sea salt and vinegar, and screamin' hot.
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- Chia Seeds Market - The global chia seeds market size to be valued at USD 4.7 billion by 2025, expanding at a compound annual growth rate (CAGR) of 22.3% during the forecast period. Rising demand for gluten-free products, awareness about the health benefits of chia seeds, and usage of omega 3 in animal feed are some of the prominent factors driving the growth of this market.
- Snacks Market - The global snacks market size was valued at USD 1,450.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.7% from 2022 to 2030. The pandemic-induced lockdowns coupled with the global adoption of the work-from-home culture have led to the exponential growth of the snack market in the last two years.
Fruit And Vegetable Chips Market Segmentation
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)
- Sweet Potato
Fruit Vegetable Chips Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Fruit Vegetable Chips Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Central South America
- Middle East Africa
Market Share Insights
- October 2021: Munchy Seeds launched its new range of gut-healthy chips in recyclable packaging. The company is seeking to review its production process and manufacture green and sustainable products.
- May 2021: The Kellogg Company’s most recognized brand Pringles launched a new range of veggie-inspired chips in Australia. The products include flavors such as sweet potato with sea salt, and tomato with mozzarella and herbs.
Key Companies profiled:
Some prominent players in the global fruit and vegetable chips market include
- Luke's Organic
- The Kellogg Company
- Calbee North America
- Seneca Foods Corp.
- Hain Celestial
- Herr Foods Inc.
- Campbell Soup Company
- Utz Brands, Inc.
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