Organic Chips Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025
“The global organic chips market size was worth USD 14.2 billion in 2018 and it is expected to exhibit CAGR of 4.1% during the forecast period.”
The global Organic Chips Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: The global organic chips market is expected to grow with a CAGR of 4.1% over the forecast period. It is expected to reach USD 18.6 billion, by 2025, according to a new report published by Million Insights. Changing food habits and shift towards organic foods owing to health benefits associated with them are driving the demand for organic chips. In addition, the ongoing trend for clean-label products positively affects market growth. Key Players:
Luke’s Organic The Coca-Cola Company PepsiCo Inc. Danone S.A Tyrells Potato Crisps Limited Steric Trading Ptv. Ltd. Lucozade Ribenna Suntory Rhythm Superfoods Kettle Foods Inc.
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Growth Drivers: Growing sales of organic products through supermarket/hypermarket and increasing the online popularity of online sales are fueling the growth of the market. Considering the growing awareness regarding the health benefits of organic foods, manufacturers are aiming to accelerate their product sales in urban areas where consumers are adopting alternatives instead of processed ones. Growing emphasis on reducing the consumption of chemical-free food products is supplementing the organic chips market growth. Further, increasing R&D expenditure and innovative product launches are expected to strengthen the demand for organic chips. Distribution Channel Outlook:
Retail and Supermarket Online Platform
Product Outlook:
Vegetable Fruits Cereal Grain
Various products used in chips manufacturing are vegetables, grain, cereal and fruits. Among all, the vegetable segment held the largest market share in 2018. The growing popularity of this segment is attributed to the easy availability of several vegetables. The increasing popularity of potato chips is further strengthening this segment’s market share. Cereal and grain are also gaining traction owing to multiple health benefits associated with them. Increasing demand for spices from Asia Pacific countries is providing lucrative opportunities for market players to expand their presence in the region. Regional Outlook: North America accounted for the largest share in 2018 with over 34.2% of the market share. Increasing health consciousness has resulted in the rise in the popularity of organic chips in the region. Further, increasing demand from the United States is expected to help the region in maintaining its dominance over the forecast period. Rising demand for organic foods from Germany and France is expected to make Europe a key region in the market during the forecast period. On the other hand, Asia Pacific is projected to be the fastestgrowing region largely because of improving consumers’ food habits and growing adoption of western culture in countries such as India and China. Furthermore, increasing e-commerce sales and the introduction of new products are bolstering the demand for organic products in this region. COVID-19 Impact Insights The organic chips market has been negatively affected due to the outbreak of COVID -19. The pandemic has led to the closure of retail and supermarket stores across different parts of the world to contain the spread of the coronavirus. Supermarkets and retail outlets are the major sales channels of organic chips. Further, these chips are prepared using fruits, cereal, vegetables, and grains. Owing to the imposition of lockdowns, supply chains of these raw materials were severely disrupted. Nevertheless, online sales have surged during the pandemic. In addition, with the reopening of various retail stores, the market is estimated to start recovery over the next few years. Manufacturers should strengthen their online distribution channels to garner a larger consumer base. Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
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