by The Protein Crisps Market is estimated to be valued at US$ 2.59 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Protein crisps are on-the-go snacks made from various protein sources like whey, casein, soy, pea and egg white. They are baked or fried till crispy and available in different flavors. Being highly nutritional, low in calories and filling, protein crisps are gaining popularity as alternatives to energy bars and chips among health conscious consumers. The rising awareness about the benefits of protein-rich diet is driving the demand for protein crisps.
Market Dynamics:
The major drivers of protein crisps market are growing health consciousness among consumers and changing eating habits. With increasing prevalence of lifestyle diseases, consumers are focusing on adding more protein to their daily diet for wellness and fitness goals. The rising number of gyms and health clubs is also promoting the consumption of high protein snacks like protein crisps. Additionally, the busy lifestyles leave little time for meals, spurring the demand for on-the-go nutritional snacks. The product innovation with new flavors and textures in protein crisps is further fueling their market growth. However, high prices of protein crisps compared to regular snacks is a major challenge for their widespread acceptance.
Segment Analysis
The protein crisps market can be segmented based on product type, and end use. Under product type, the pea protein segment dominates the market owing to its high nutritional value and increasing demand from health-conscious consumers. Pea protein crisps have high protein content with no cholesterol and gluten, making them an ideal choice for consumers looking for snack alternatives.
PEST Analysis
Political: Favourable government regulations and policies towards healthier snacking options are boosting the protein crisps market growth.
Economic: Rising disposable incomes and growing health awareness are driving consumers towards protein-rich snacks like crisps, contributing to market revenues.
Social: Changing lifestyles, increasing millennial population, and popularity of fitness trends are augmenting the demand for protein-rich snacks.
Technological: Advancements in processing techniques are helping manufacturers develop innovative protein crisp flavours and formats.
Key Takeaways
The global Protein Crisps Market Size is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing consumer shift towards healthy snacking options.
The North America region dominates the protein crisps market owing to widespread health trends, presence of major players, and growing awareness about vegan proteins in the region.
Key players operating in the protein crisps market include Johnson & Johnson (DePuy Synthes), Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, NuVasive, Inc., Globus Medical, Inc., Wright Medical Group N.V., Arthrex, Inc., DJO Global, Inc., Össur hf., CONMED Corporation, Breg, Inc., Orthofix Medical Inc., Bioventus LLC. These players are constantly innovating new flavours and formats to expand their product portfolios.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
