The global market for non-potato vegetable chips is seeing an increase in the popularity of plant-based, or “veggie” chips and crisps. Consumer desire for plant-based food and beverages has increased significantly over the past few decades, and this trend is only going to get bigger in the years to come.
Introduction
Healthy snacking is trending. Consumer preferences are geared towards functional, convenient, ready-to-eat snack products that are health-conscious, plant-based, and, more often than not, contain non-GMO ingredients while being gluten-free.
And this is what has driven the non-potato veggie chip market and its significant growth projections over the next decade.
According to Future Market Insights, the veggie chip market is estimated to secure a valuation of USD 12.5 billion in 2023, with an increase in valuation to USD 22.8 billion by 2033, with an annual growth rate of 6.2 percent.
The consumer desire for low-processed, natural food products is on the rise. The popularity of veggie chips is centred on their health benefits. They are an appealing alternative for consumers concerned about their health and well-being as health issues such as obesity and diabetes have become more prevalent.
Due to the nature of veggie chips as low-calorie, health-focused snacks, they can attract a broad consumer base. As a low-sodium snack containing high levels of vitamins and dietary fibre, veggie chips align perfectly with consumer demand for healthy, tasty, and affordable snacking options. There is an increased range of flavours available in supermarkets, including carrot, sweet potato, spinach, turnip, and beetroot.
The chips are made from a variety of fruits and vegetables, including potatoes, carrots, apples, and bananas. They are often baked or fried, and many brands offer a variety of flavours. Fruit and vegetable chips are a healthy alternative to traditional chips made from refined flour and other unhealthy ingredients. They are a good source of fibre and vitamins, and they are low in calories.
To keep up with growing consumer demand, manufacturers are doing product innovation, mergers and acquisitions, and expanding their business capabilities to capture the maximum share of the market globally. New flavours like beetroot and sweet potato are attracting more consumers.
Meanwhile, manufacturers are also investing in research and development and offering natural and flavoured veggie chips to appeal to consumer demand for a broader range and variety of flavours to satisfy differing consumer palates.
Growing Popularity
Veggie chips are a type of snack food made from different types of vegetables. They are usually fried, dried, and sometimes baked to create a crunchy texture. The most popular veggie chips are made from potatoes, carrots, sweet potatoes, beetroot, parsnip, kale, and cassava. Veggie chips can be found in a wide range of flavours, including salt and vinegar, barbecue, sour cream and onion, cheddar cheese, rosemary, and sea salt.
Fruit and vegetable chips are a type of snack food that is made from thinly sliced or shredded fruits or vegetables that have been deep fried or baked. These chips are a popular snack food choice among health-conscious consumers as they are a good source of dietary fibre, vitamins, and minerals.
The healthy fruit and vegetable chip market is being driven by the growing health consciousness among consumers and the rising disposable incomes in developing countries. The growing popularity of vegan and vegetarian diets is also a key factor driving the demand for healthy fruit and vegetable chips.
People are also becoming more aware of the impact their food choices have on the environment. Fruits and vegetables are a more sustainable choice than animal products, so chips made from them are seen as a more environmentally friendly option.
In addition, many fruit and vegetable chips are made from organic or fair-trade ingredients, which further reduces their impact on the environment.
Finally, economic factors play a role in the market for healthy fruit and vegetable chips. As health consciousness and environmental awareness have increased, so has the demand for these products. However, the high cost of organic and fair-trade ingredients can make these chips more expensive than traditional chips.
Limitations
The healthy fruit and vegetable chip market is growing rapidly; however, there are some restraints that are hampering its growth. Some of the major restraints on the healthy fruit and vegetable chip market are as follows:
• Lack of Awareness: There is a lack of awareness about healthy fruit and vegetable chips among consumers. Most consumers are unaware that such chips exist in the market. This is one of the major restraints on the healthy fruit and vegetable chip market.
• High Cost: The cost of healthy fruit and vegetable chips is another restraint on the market. These chips are generally more expensive than regular chips. This is because the raw materials used for making these chips are costly.
• Lack of Availability: The lack of availability of healthy fruit and vegetable chips is another restraint on the market. These chips are not easily available on the market. This is because the manufacturers of these chips are limited in number.
• Lack of Flavours: The lack of flavours is another restraint on the healthy fruit and vegetable chip market. These chips generally do not have a wide range of flavours. This is one of the major reasons why consumers do not prefer these chips over regular chips.
Market Trends
The healthy fruit and vegetable chip market is growing at a rapid pace. This is due to the rising awareness of the health benefits of these chips. The chips are made from a variety of fruits and vegetables, which are low in calories and fat. They are a good source of dietary fibre, vitamins, and minerals.
The changing lifestyle and the preference for healthy snacks are some of the other factors driving the growth of the healthy fruit and vegetable chip market. The growing demand for natural and organic products is another factor driving the growth of the healthy fruit and vegetable chip market. The increasing disposable income and the willingness to spend on healthy snacks are some of the other factors driving the growth of the healthy fruit and vegetable chip market.
Some of the major players operating in the healthy vegetable chip market are listed below :
1. Arjun Foods launched vacuum-fried Okra Chios that are exotic in taste, and as they are vacuum-fried, they score well on the health quotient and have a shelf life of 6 months. The taste of the chips is enhanced by adding mint seasoning.
2. Bare Snacks recently launched baked, crunchy veggie chips made from beets, carrots, and sweet potatoes. The chips are made from real vegetables without the addition of artificial preservatives or colours. The veggie chips are devoid of starchy powders and oils too.
3. Costco also recently launched healthy veggie chips: Garden Veggie Chips and Zesty Flavour veggie straws. These products are free from trans-fat and artificial preservatives and made with natural ingredients.
4. Kellogg’s is one of the leading players in the healthy fruit and vegetable chip market. The company offers a wide range of healthy fruit and vegetable chips under the brand name Pringles. Venturing into plant-based snacks is a great move by Kellogg’s, as it is based on healthier products and products that help reduce environmental impact—both trends are here for the long run.
5. PepsiCo’s Frito-Lay also ventured into veggie snacks packaged under a brand called Off the Eaten Path and made with rice, black beans, chickpeas, and other less-processed ingredients. This has no artificial colours, flavours, or preservatives and is designed to deliver complex and exotic flavours preferred by millennial consumers.
6. Kettle Brand offers a wide range of veggie chips, including beetroot, sweet potato, and parsnip chips, and has a strong presence in the US and Europe.
7.Conagra Brands Inc. offers a wide range of healthy fruit and vegetable chips under the brand name Healthy Choice.
Editors’ Insight
Snacking on the go and replacing meals with snacks is a growing trend among young consumers who have health-conscious eyes on functionality with their food choices. According to the market research company IRI, the macro-snacking category is expected to grow by $16 billion in the next five years. Within that category, vegetable, fruit, and legume-based snacks are among the fastest-rising.
Health-conscious consumers, busy lifestyles, and non-traditional flavours are driving trends in snack growth, which has increased after the COVID-19 pandemic. Personal healthcare has grown more in the snack food segment.
Consumers want snacks that not just satisfy hunger but also help them stay fit and healthy, and they are willing to pay higher prices for foods they perceive as healthy. High fibre content, protein, antioxidants, vitamins, minerals, whole grains, and probiotics that aid brain, heart, skin, and gut health are among the traits they look for.
Produce processed into shelf-stable form fits the bill. Sales of apple chips have increased by 24% over the past year, while overall sales of fruit chips—bananas, coconuts, pears, pineapple, and plantains among them—have increased 7.1%. Fruit chips are among the fastest-growing categories of snacks. Many of these snacks are often baked and have a lot of flavour combinations. Bright packaging is a driver, too.
Savoury, vegetable-based snacks continue to thrive, with 9% growth over the past year. Veggie snack producers have taken to combining vegetables, whether snap peas, beets, or sweet potatoes, with nuts and legumes, such as black beans and chickpeas. The use of chickpeas in snack foods is up 35%, while the use of beans is up 25%.
Cauliflower and onions were two more vegetables used as sources for innovative new chip products. Peppers have been utilized greatly in new snacks as consumers continue to want bold new flavour combinations, with spicy being front and centre. Also, exotic flavours are on the rise.
Globalisation in flavours is important as consumers seek snacks to fill their desires, which they would normally get at restaurants. It is reported that 92% of millennials and Gen Z members replace at least one meal per week with snacks, while 7% don’t eat traditional meals anymore. This trend has resulted in a desire for larger package sizes, as well as multipacks and more variety packs. Snacking on the go is turning into snacking at home.
Packaging can help drive veggie and fruit snack purchases. Some questions snack producers should ask themselves are, “Is the packaging elevating the product?” and “Is it fun and engaging? Plus, the younger generation is looking for sustainability in their packaging.”
Some on-package claims that resonate with consumers include: high protein, organic, vegan, natural, certified gluten-free, halal, kosher, paleo-friendly, low carb, high fibre, and low fat. Highlighting green manufacturing processes is also a positive for consumers.
While veggie snacks are perceived as healthy, taste is still the No. 1 factor in determining snack purchases. Taste still reigns supreme.