GVR Report cover Fruit And Vegetable Chips Market Size, Share & Trends Report

Fruit And Vegetable Chips Market Size, Share & Trends Analysis Report By Product (Vegetable [Potato, Sweet Potato, Beetroot, Carrot], Fruit [Apple, Banana, Mango]), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Nov, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-710-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 75

The global fruit and vegetable chips market size was valued at USD 47.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The demand for fruit and vegetable chips is supported by shifting inclination towards convenient, functional, and flavored on-the-go snacks. Heal thier snacking and plant-based diets is emerging trend among health-conscious consumers, which is also expected to offer a significant boost to market growth.

U.S. fruit and vegetable chips market size, by product, 2018 - 2028 (USD Billion)

The COVID-19 pandemic positively impacted the demand for fruit and vegetable chips. The change in lifestyles and a shift in inclination towards fruit and vegetables in the form of chips, and snacks is presumed to rise in the coming years. Consumers are seeking convenient, ready-to-eat, and health-oriented snacks, which are offering enormous growth prospects to the market for fruit and vegetable chips. Millennials and health-conscious adults are even willing to pay a higher price for convenient and healthier snacks. In June 2021, the National Online Consumer Survey reported that nearly 31.0% of consumers have been seeking snacks that contain vitamins and minerals due to the outbreak of the pandemic.

In the U.S., the prevalence of health issues including obesity, diabetes has been on the rise owing to factors such as stress, and a sedentary lifestyle. Moreover, obesity has been reported as a public health crisis in America. According to the Trust for America's Health, The U.S. adult obesity rate stood at 42.4% in 2020, which has increased by 26% since 2008. These demographic trends are encouraging an increasing number of consumers to shift towards healthier snacking alternatives and maintain a healthy weight.

Excessive consumption of fried snacks is considered harmful as they contain high amounts of cholesterol and calories. This has resulted in shifting consumer inclination towards plant-based snacks and snacks with no-grain ingredients such as chia seeds, carrots, and sweet potato among others. Moreover, fruit and vegetable chips are gaining immense popularity as they are delicious and healthier compared to fried chips. Such instances are expected to offer a significant boost to market growth in the upcoming years.

As per an article published in the American Journal of Agriculture Economics in November 2020, the demand for fresh fruit and vegetables has increased during the pandemic, which is driving the product adoption and is likely to boost the overall market growth in the coming years.

Several product manufacturers are reviving the production of raw materials, supply chain and launching a healthier version of these snacks to cater to the rising demand from consumers. For instance, in June 2021, Terra brand launched three new vegetable chips in flavors including sour cream and onion, sea salt and vinegar, and screamin' hot.

Product Insights

The vegetable segment dominated the market for fruit and vegetable chips and accounted for the largest revenue share of 95.7% in 2020. The segment is expected to maintain its dominance over the forecast period. Consumers are willing to try different flavors of vegetable chips owing to changing taste preferences, which is driving the segment growth. The mixed vegetable chips segment is projected to register the fastest growth during the forecast period with a CAGR of 7.3% from 2021 to 2028. The increasing availability of gluten-free, vegan, and baked mix chips is driving the segment growth. Mix veggie chips consist of a combination of dried and flavored vegetables such as spinach, beetroot, and zucchini among others and are associated with offering several nutritional benefits, thereby driving the segment.

Banana held the largest revenue share of 26.0% in 2020 and is expected to maintain dominance over the forecast period. Banana chips consist of sweet and savory flavors and are consumed as a natural alternative to unhealthy snacks. The growing availability of banana chips for diabetic patients and in the fat-free range is driving its demand. Such instances are expected to offer a significant boost to segment growth.

However, the apple chips segment is projected to register the fastest growth during the forecast period with a CAGR of 8.8% from 2021 to 2028. Apple chips are consumed as a healthy alternative to desserts and confectioneries. Consumers are opting for dried and crispy apple chips as they contain fiber, potassium, calcium, and iron. Such instances are driving the segment growth.

Distribution Channel Insights

 The offline segment made a larger contribution in the market for fruit and vegetable chips and accounted for a revenue share of 82.8% in 2020. Key manufacturers focus on offline stores as their preferred distribution channel to expand product reach. Instant availability and physical verification are the two major factors propelling product sales through various offline channels.

Global fruit and vegetable chips market share, by distribution channel, 2020 (%)

The online segment is projected to register a CAGR of 6.6% from 2021 to 2028. An increase in internet penetration coupled with the availability of most brands’ products through e-commerce retailers is proliferating the segment growth. The major manufacturers of such products such as PepsiCo, and The Kellogg Company utilize online distribution channels to reach more consumers across geographies.

Regional Insights

Asia Pacific dominated the fruit and vegetable chips market and accounted for the largest revenue share of over 35.6% in 2020. The demand for natural and organic convenient food products has been rising in China, and India due to which manufacturers have been focusing on offering natural flavors such as tomato, and cucumber vegetable chips among others to target health-conscious consumers.

Europeis projected to register the fastest CAGR of 6.6% from 2021 to 2028. Manufacturers are increasingly launching exciting flavors in the region owing to the rising demand from the U.K. For instance, in April 2019, Kettle Chips brand launched a new range of potato crisps with slices of fruit and vegetable in the U.K. The product is available in Sainsbury’s and Tesco stores.

Key Companies & Market Share Insights

The market for fruit and vegetable chipsis characterized by high competition and the presence of major consumer goods companies who have recognized the robust potential of the market and occupy a majority of the market share. The market for fruit and vegetable chips is both growing and transitioning based on the consumers’ demand for healthy, convenient, and on-the-go snacks. Established companies have been innovating new products and experimenting with natural and exotic flavors in seasonal fruits and vegetables such as jackfruits, and grapes among others to gain major traction among consumers.

For instance, in October 2021, Munchy Seeds launched its new range of gut-healthy chips in recyclable packaging. The company is seeking to review its production process and manufacture green and sustainable products. Similarly, in May 2021, The Kellogg Company’s most recognized brand Pringles launched a new range of veggie-inspired chips in Australia. The products include flavors such as sweet potato with sea salt, and tomato with mozzarella and herbs. Some of the prominent players in the fruit and vegetable chips market include:

  • Luke's Organic

  • PepsiCo

  • The Kellogg Company

  • Calbee North America

  • Seneca Foods Corp.

  • Hain Celestial

  • Herr Foods Inc.

  • Campbell Soup Company

  • Utz Brands, Inc.

  • Greenday

Fruit And Vegetable Chips Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 50.1 billion

Revenue forecast in 2028

USD 78.4 billion

Growth Rate

CAGR of 6.4 % from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany;France;China; India; Brazil; South Africa

Key companies profiled

Luke's Organic; PepsiCo;The Kellogg Company;Calbee North America;Seneca Foods Corp.; Hain Celestial; Herr Foods Inc.; Campbell Soup Company; Utz Brands, Inc.;Greenday

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global fruit and vegetable chips market report on the basis of product, distribution channel, and regional:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Vegetable

      • Potato

      • Sweet Potato

      • Beetroot

      • Carrot

      • Mix

      • Others

    • Fruit

      • Apple

      • Banana

      • Mango

      • Mix

      • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

    • Offline

    • Online

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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