Press release
Baked Chips Market Revenue Analysis is expected to grow at an 6.5 % CAGR between 2021 -2028
It is expected that the Baked Chips market will register USD 47.5 billion with a CAGR of 6.5% from 2021 to 2028. Baked chips are one form of snack consumed by a lot of the population. It is one of the popular snacks that people use and is consumed worldwide. They are emerging as a popular snack due to the continuous demand. People are getting concerned about their lifestyle and trying to maintain healthy food habits. This market pushed people to get better and use this product as a healthy food habit. They are easy to make as all the essential raw materials required for baked chips are easily available.
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Along with that, they are easy to pack and have a long shelf life. This quality makes baked chips makes a profitable investment for the key players. COVID 19 has a mixed effect on the market. Due to the pandemic, the Baked Chips market was hampered as there were halts in the supply chain and the manufacturing unit, which lessened the market value. However, after the situation got better, the market also grew as there was a lockdown, and people were ordering food products as it is counted as essential during the time. Some of the important drivers of the market are improving the market. The players' development of new products and the continuously changing lifestyle of people to avoid chronic diseases will propel the market growth in the forecast period. The increase of new factors of the chips and significant growth of retail stores will increase the market growth in the coming years. Poor supply and the high prices of the baked chips than the fried ones will hamper the forecast period's market.
Market segmentation
The Baked Chips Market is categorized into several types. The basic segments of the market are distribution channel, source, and functionality. The market is divided into Low Sodium, Low Calories, Gluten-Free, Organic, and Others based on the functionality. The source categorized the baked chips market into grains, fruits, vegetables, cereals, and others. The vegetable segment will dominate the market hence getting the largest market share. The sub-segments of the distribution channel are store-based and non-store-based. The store-based sub-segments will have the largest market share as the store-based hypermarket segment will hold the market's peak share.
Regional analysis
The Baked Chips Market size is analyzed in the major parts of the world. The prominent regions are North America, Asia Pacific, Africa, the middle east, and other parts of the world. North America is expected to register a high market value in the forecast period among all the regions. The growth is attributed to the rising adaptation of instant food items due to the busy schedule of people. The presence of prominent market players in the region is also a reason for the market growth. Europe is expected to be in second place in market growth and hold the 30% market share in the forecast period. The high demand for baked chips and convenience food will improve the market growth in the forecast period.
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Industry news
Reading Bakery Systems (RBS) has introduced a new pita chip production system that produces baked, split pita chips and a variety of other baked crisp snacks.
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