Portland, OR, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global baked chips market generated $6.2 billion in 2021, and is projected to reach $10.9 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.2 billion |
| Market Size in 2031 | $10.9 billion |
| CAGR | 5.8% |
| No. of Pages in Report | 300 |
| Segments Covered | Source, end-user, distribution channel, and region |
| Drivers | Increase in the standard of living |
| Growth of the online retail platform | |
| Opportunities | Surge in demand for relatively healthy snacks that combine nutrition and convenience among consumers |
| Improvement in flavours of vegetable baked chips | |
| Restrains | Prevalence of government regulation on processed food |
COVID-19 Scenario:
- The outbreak of COVID-19 had a slightly negative impact on the growth of the global baked chips market, owing to the presence of lockdowns as imposed by the governments of various countries across the globe.
- The loss of supply chains and distribution channels in the initial months of the pandemic had caused small losses for the market.
- The COVID-19 pandemic has not only hampered the production facilities but has also disrupted the supply chains such as material suppliers and distributors of the baked chips market globally, resulting in the loss of the business in terms of value sales.
- However, these losses were recovered in the later phases. Thus, the market is expected to recoup with eased restriction and surge in consumer demand.
The report offers detailed segmentation of the global baked chips market based on source, end-user, distribution channel, and region.
Based on source, the vegetables segment held the dominating market share in 2021, holding nearly one-third of the global baked chips market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments such as cereals, grains, fruits, and others.
Based on end-user, the households segment held the dominating market share in 2021, holding nearly half of the global baked chips market, and is expected to maintain its leadership status during the forecast period. The report also analyses the restaurant and cafes segment.
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Based on distribution channel, the supermarkets and hypermarkets segment held the dominating market share in 2021, holding more than two-fifths of the global baked chips market, and is expected to maintain its leadership status during the forecast period. The online retail segment, on the other hand, is expected to cite the fastest CAGR of 6.3% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding more than one-third of the global baked chips market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 6.5% during the forecast period.
The key players analyzed in the global baked chips market report include Popchips, Calbee, Inc, Herr Foods Inc, Cornitos, Utz Brands, Inc, Ike Enterprises Inc, Intersnack Group GmbH and Co. KG, General Mills, Inc., True Agro Roots, The Campbell Soup Company, Kelloggs, Pepsico, Inc.
The report analyzes these key players in the global baked chips market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
