July 18, 2024
Protein Crisps Market

Protein Crisps Market Poised To Flourish With Growing Geriatric Population

Protein crisps are a popular snack made from rice, corn, potatoes or chickpeas which are baked and seasoned with herbs and spices to provide additional protein. Commonly used as an alternative to potato chips, protein crisps offer a crunchy texture while delivering essential nutrients. They come in assorted flavors and varieties to suit diverse tastes and dietary preferences. As people pursue healthier lifestyles, the nutritious appeal and convenience of protein crisps is driving their uptake in daily diets. The global protein crisps market is estimated to be valued at US$ 2.59 billion in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growing geriatric population presents a key driver for the protein crisps market. As people age, their requirements for essential nutrients like protein increases. However, senior citizens often struggle to obtain adequate protein through diet alone. Protein crisps thus emerge as a convenient, tasty and nutritious snack option for the elderly demographic. Furthermore, their portable packaging and shelf-stability makes protein crisps suitable for on-the-go consumption even by less mobile older individuals. With rising life expectancy worldwide, the proliferation of age-related diseases is surging the demand for protein-fortified, easily digestible food products. This growing geriatric population will therefore propel the protein crisps industry forward over the coming years. Additionally, the increasing recognition of protein crisps as a versatile snack that can be enjoyed across demographics regardless of diet or lifestyle will further support market expansion.

Segment Analysis

Protein crisps market can be segmented into gluten-free and non-gluten free. The gluten-free segment dominates the market as it caters to the rising health conscious population focusing on gluten-free diets. The gluten-free segment is expected to witness the highest growth during the forecast period due to the growing number of consumers suffering from celiac disease and gluten intolerance.

PEST Analysis

Political: Regulations related to food labelling and product claims are helping consumers make informed choices thus aiding market growth.
Economic: Rise in disposable incomes and changing lifestyles results in increased demand for healthy and on-the-go snack foods boosting the market.
Social: Growing health consciousness and focus on nutritional enrichment is driving significant adoption. Increasing cases of diabetes and obesity further propels the market.
Technological: Advancements in processing techniques help extend shelf-life and retai freshness aiding wider distribution and availability. New flavours and formats also augment demand.

Key Takeaways

The global Protein Crisps Market Growth is expected to witness high growth over the forecast period. North America dominates the market currently owing to increased awareness about protein-rich diets and snacks.

Regional analysis: North America accounts for the largest share of the global protein crisps market currently. The US and Canada are the major revenue generators in the region attributed to growing health issues like obesity driving protein snack adoption.

Key players:

Key players operating in the protein crisps market are Rise Bar, Pepsico, General Mills, Kellogg, and Biena Snacks. These players are focusing on new product launches, acquisitions and marketing campaigns to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it