The North America healthy snack chips market size is expected to reach USD 12.9 billion by 2026 registering a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Increased demand for potato, tapioca, and popcorn chips is the key factor driving the industry growth. Increased disposable income levels, particularly in the emerging regions, is also likely to contribute to the market growth in the coming years. The need for on-the-go snacks is further expected to be driven by increasing spending capability of customers over the forecast period. In addition, hectic lifestyle and work schedules is further expected to boost market growth.
Potato and tortilla chips product segment held the maximum market shares in 2018 on account of changing lifestyle, growing disposable income levels, increased affordability of these products, and increasing demand for convenient and Ready-to-Eat (RTE) products. Factors, such as introduction of various flavors including barbeque, sea salt, salt & pepper, cheese, and dill pickle, are further expected to drive the product demand over the forecast years. Consumers in North America seek high-quality products; thus, the demand for healthy snack chips in countries, such as U.S., Canada, and Mexico, is likely to gain momentum as these chips contain less salt and cholesterol and have no sugar.
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Further key findings from the study suggest:
In terms of revenue, potato chips product segment is projected to ascend at the highest CAGR of 5.4% over the forecast period
Tortilla chips segment led the North America healthy snack chips market in 2018 and accounted for a revenue share of over 54.5%
The segment will expand further on account of growing consumption of organic and non- Genetically Modified Organism (GMO)-based tortilla chips in Canada, U.S., and Mexico
Popcorn chips segment also accounted for a significant market share and is projected to be the second fastest-growing segment from 2019 to 2026
In terms of countries, Mexico is projected to witness the fastest CAGR due to high demand for premium-quality food products as a result of rising population and disposable income levels along with rapid urbanization
Key companies in the market include Frito-Lay North America, Inc.; General Mills, Inc.; Herr’s Food, Inc.; Snyder’s-Lance, Inc.; and BFY Brands
Grand View Research has segmented the North America healthy snack chips market on the basis of product and country:
North America Healthy Snack Chips Product Outlook (Revenue, USD Million, 2014 – 2026)
North America Healthy Snack Chips Country Outlook (Revenue, USD Million, 2014 – 2026)