Zero Calorie Chips Market to Witness Robust Growth
Consumer trends that emphasize importance of low calorie or zero calorie snacking will propel the zero calorie chips market growth. As per Future Market Insights (FMI), the market will expand at a CAGR of above 7% between 2020 and 2030. The growth will be a collective result of favorable dietary trends and technological developments in convenience food manufacturing.
Healthy Puff Chips Sales Bolstered by Rising Consumer Preference
Among products available in the global market for zero calorie chips, the demand for puff chips variety is considerably high. Healthy puff chips maintain share-wide dominance with more than 1/4th of total market share. This is followed by healthy potato chips owing to their popularity as the oldest type of snack.
Healthy potato chips account for over 1/4th of market share with the most lucrative growth rate. Manufacturers and consumers alike prefer healthy potato chips. For consumers it is comfort of a staple snack and for manufacturers it is the easy availability of raw material which makes healthy potato chips the most remunerative segment in the market.
North America Leads Global Sales, East Asia Offers Lucrative Opportunities
North America leads global sales with over 1/4th of market share and a steady growth rate throughout the forecast period. Millennial consumers are a driving force for zero calories snacks in countries such as the U.S. Convenience food products such as zero calorie chips garner increasing demand on the back of surging adoption of ready-to-eat (RTE) food products. Consumers are looking for food products that can be easily integrated with busy lifestyles.
Middle East & Africa (MEA) follow the ‘early adopter’ region with a market share of 17% and a dexterous growth rate of 8% through the end of 2029. Developing economies in MEA are witnessing accretive penetration of healthy eating trends. East Asia offers the most remunerative growth prospects with a double digit CAGR of 10% through the end of 2029.
Rising Population of Health Conscious Consumers will Drive Mass-adoption
Manufacturers are under pressure from consumers due to the rising demand for good quality nutritional products. The demand is especially high in the zero calorie chips category, since snack chips have traditionally termed as ‘junk food’ by consumers.
Surging medical diseases such as obesity, and blood pressure problems will drive demand for zero snacks chips as consumers will increasingly look for healthy alternatives. Tapioca zero calorie chips is expected to emerge as a popular choice among millennial consumers. This can be attributed to the increasing popularity of the product type as an instant source of energy.
Sales Lie in Direct-to-Consumer Channels
Direct to consumer distribution channels account for a majority market share of over 40% of the current market value followed by super markets which holds 1/4th market share. Gainful growth opportunities lie in online store segment which is expected grow at a healthy growth rate of over 6% through the end of forecast period. Internet savvy millennial consumers are driving mass-adoption of online stores. Coupled with surging interest in health conscious diets, new consumers are expected to adopt zero snacks chips during the forecast period.
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Zero Calorie Chips Market - Key Research Findings
- The market will exhibit a CAGR of 7% between 2019 and 2029.
- Puff chips will account for a fourth of the overall zero calorie chips market through the forecast period.
- Healthy potato snack chips account for 1/4th of the overall market value.
- Direct-to-consumer distribution channels remain highly preferred.
- Online stores will generate lucrative opportunities, driven by demand from millennial consumers.
Key Factors Shaping the Zero Calorie Chips Market
Rising Demand for RTE Meals is Rising
Millennials are an important driving force behind the growth of the zero calorie chips market. Snacks and RTE products are replacing elaborate meals, thereby leading to an increased sales of products that are healthy as well as convenient. Prominent product categories in the market include tortilla, popcorn, potato, and pop chips. While changes in food consumption and snacking habits may seem to have considerable impact on sales proceeds, zero calorie chips will be in high demand once coronavirus passes.
Potato Chips Segment is Projected to Exhibit High Growth
Potato chips have remained highly popular and a global favorite in the snacking community. Innovations in manufacturing technologies ensuring production of healthy and zero calorie potato chips can prove to be a boon for the market. This, coupled with bold promotion strategies adopted by market players will give significant impetus to the market in the near future.
Healthy Snacking Habits Aids Expansion
Consumers are more willing to pay for healthier snacks. Long working hours and hectic life have bolstered the demand for snacks around the world. However, increasing stress due to unhealthy lifestyle and unbridled snacking habits have led to the higher incidence of various diseases. Since consumers nowadays have become highly aware, they are more likely to spend on healthier varieties of snacks. This will enable the zero calorie chips market gain momentum.
Zero Calorie Chips Market - Structure Analysis
- Manufacturers are leveraging high growth potential of zero calorie chips market across various regions.
- Market players are targeting investments in food technology, to meet the global demand for zero calorie chips.
Base year considered - 2019
Actual estimates/ Historical data - 2014 - 2018
Forecast period - 2019 - 2029
Market Value in 2019 -US$ Mn
Segments covered - Form, Application, Function and Region
Regions covered - North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
Key Players - Deep River Snacks, The Kellogg Company, Frito-Lay North America Inc., Mission Foods, BFY Brands, Tastemorr Snacks, General Mills Inc., Shearer’s Snacks, ARA Food Corporation, Herr’s Food Inc., Popchips, and Snyder’s-Lance Inc.
The global zero calorie chips market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
By Product Type
- Tortilla Chips Market
By Distribution Channel
- Super Markets
- Online Stores
- Direct to customer (DTC)
- Other Channels
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa