About Vegetable Chips
Vegetable chips are made by deep-frying, baking, or kettle-cooking thin slices of vegetables. Consumers across the globe are trying to switch to better-for-health products such as vegetable chips, as they are ready-to-eat (RTE) products and help satiate hunger, the demand is anticipated to grow during the forecast period. The increasing consumer preference for snacking is helping the global vegetable chips market grow.
Technavio’s analysts forecast the global vegetable chips market to grow at a CAGR of 9.81% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global vegetable chips market for 2017-2021. To calculate the market size, the report considers the revenue generated through the sales of potato chips through various retail outlets and foodservice establishments that include but are not limited to hypermarkets, supermarkets, convenience stores, independent retailers, discount stores, warehouse clubs, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vegetable Chips Market 2017-2021
Technavio recognizes the following companies as the key players in the global vegetable chips market: Calbee, OUR LITTLE REBELLION, PepsiCo, Snikiddy, and Zweifel
Other Prominent Vendors in the market are: AIB Foods, The Forager Foods, Hain Celestial, nehf, popchips, Seeberger, Sensible Portions, The Better Chip, and Wai Lana Productions.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Innovative product offerings. The vegetable chips manufacturers are offering products that are considered to be better-for-you as many vegetables fall under superfoods category. The demand for functional and non-GMO ingredients is high due to the rising cases of obesity, diabetes, gluten allergy, and other related diseases. In 2017, Burts Potato Chips launched new better-for-you crisps: Lentil Waves and Quinoa Crinkles in two new flavors — Sweet Pepper & Chorizo and West country Cream Cheese. Similarly, KETTLE FOODS launched a new variety of vegetable chips made of parsnip, sweet potato, and beetroot.”
According to the report, one of the major drivers for this market is Changing taste preferences. Manufacturers introduce new flavors of vegetable chips to expand their consumer base. The major flavors of vegetable chips around the world are roasted or toasted, barbeque, spice, and beef. Many players try to differentiate their products based on flavor; hence, it is an important component of vegetable chips. Barbeque is the predominant flavor in North America and Europe. The demand for this flavor is slowly picking up in APAC and is expected to grow moderately over the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Price fluctuations of vegetables. In recent years, the increasing gap between demand and supply has increased the cost of raw materials like vegetables. Increase in the price of raw materials, such as corn, vegetables, and nuts, not only increases the manufacturing cost but also leads to reduced profit margins for vendors. This factor and the need to remain competitive in the market, influence manufacturers to experiment with poor-quality substitutes. In addition, raw material suppliers have the power to set price in this market.
Calbee, OUR LITTLE REBELLION, PepsiCo, Snikiddy, and Zweifel, AIB Foods, The Forager Foods, Hain Celestial, nehf, popchips, Seeberger, Sensible Portions, The Better Chip, and Wai Lana Productions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook