Global Protein Crisps Market - 2023-2030

Global Protein Crisps Market - 2023-2030

Global Protein Crisps Market reached US$ 2.14 billion in 2022 and is expected to reach US$ 3.73 billion by 2030, growing with a CAGR of 7.21% during the forecast period 2023-2030.

Globally, consumers are looking for protein-boosted snacks that help to boost the market growth of the protein crisp market. According to the data given by Ganbia in June 2022, 46% of consumers believe protein snacks as a healthy snack option while 16% of the consumers are using protein-fortified snacks such as protein powders, bars, and cereals.

Innovative product offerings by key players in different flavors of protein crisp help to boost the market growth of the protein crisp market. For instance, in 2022, Ganbia, a food manufacturing company launched crunchie milk protein crisps in the market that are ideal for bar and snack inclusion delivering crunch and texture to the product. The ingredient contains more than 74% high-quality milk protein to fulfill extra protein need.

Athletes and individuals engaged in regular physical activity often require higher protein intake to support muscle repair, recovery, and growth. Protein crisps provide a convenient and tasty way to meet these increased protein needs. Growing product availability of protein snacks in the market further helps to boost the market growth of the protein crisp. For instance, on August 26, 2021, Snickers launched high protein crisp bars in their sports product range. It contains 20 grams of protein and 217 calories.

Dynamics

Increasing Demand for Healthy Snacks Options

Consumers' increasing demand for functional foods like protein crisp to maintain overall health and reduce the risk of certain lifestyle-related chronic health conditions drives the market growth. According to the data given by World Health Organization in 2023, chronic disease kill 41 million people every year that is equal to 74% of all deaths globally. Each year around 17 million people die by chronic diseases. Food products that are enriched with functional ingredients such as proteins, fiber, micronutrients, and plant-based ingredients are now attracting people’s healthier choices.

The rising choice of functional foods like protein crisp with weight management benefits, improving digestive health, and reducing the risk of obesity, diabetes, and cardiovascular diseases drives the market growth of the protein crisp market. Today, an ever-increasing number of protein crisp in the various options such as gluten free, soy free, vegan and others to provide more protein consumers, and offer healthy high-protein snacks like protein crisp.

Increasing Protein Rich Snacks Demand Due to Busy Lifestyle

The growing popularity of ready-to-eat snacks, and convenient snacking is a significant factor in the growth of the protein crisp market. Ready-to-eat snacks offer quick nutrition and the feeling of fullness in a busy schedule. According to a recently released ‘state of snacking’ report by Mondelēz International in 2021, approximately 59% of adults worldwide prefer to eat more small meals throughout the day, as opposed to a few larger ones.

Consumers' awareness regarding snacks as part of a healthy diet is attributed to their controlled portions. The protein crisp snacks are convenient and provide a person with sufficient energy during a hectic workday. The evolution of the snack industry is contributed by offering various healthy snack products. These products are supposed to fulfill the growing need for on-the-go nutrition. Availability of various flavors of the protein crisp such as vanilla, chocolate, peanut butter, mocha and others attracting people’s focus that further helps to boost market growth.

High Cost of the Protein Crisps Hampers Market Growth

Protein crisps require high-quality protein sources and specific processing methods to maintain their nutritional value and taste. The costs associated with these quality ingredients and production processes are substantial. Protein crisps typically use protein-rich ingredients like whey, pea protein, or soy protein. The cost of these ingredients, particularly when sourced sustainably or organically is high.

Protein crisps also require special packaging to maintain their freshness and shelf life. High-quality packaging materials contribute to increased costs. Distributing protein crisps to retailers or consumers is costly, particularly if they need to be shipped long distances or stored in controlled environments. For instance, the Keto store offers cocoa-based protein crisps in a pack of 400 grams at a cost of USD$11.79.

Segment Analysis

The global protein crisps market is segmented based on type, flavor, packaging, distribution channel, end-user and region.

Increasing Consumer's Demand for Gluten Free Protein Crisps

The gluten-free type segment held 29.15 % of the global protein crisps market share due to growing consumer demand for gluten-free products. Companies are increasingly promoting the gluten-free aspect of their protein crisp products, using it as a selling point in their marketing and branding efforts. This has helped raise awareness and drive interest in the gluten-free segment. An increasing number of people are adopting gluten-free diets due to dietary preferences and demand for the gluten-free protein crisp products increases.

Major key players frequently launch new products in the market to fulfill consumers' increased demand. For instance, on April 14, 2021, PureFit launched a brand new line of protein bars named protein crisp. The newly launched product is a non-GMO, gluten-free, and rich source of protein. It contains 12 grams of protein in one pack. The newly launched product is available for sale on the company website, TMall, and Amazon.

Geographical Penetration

Growing Vegan Population in North America Helps to Boost Market Growth of the Protein Crisp Market

North America region held the largest protein crisp market share of 43.4% in 2022 due to the increase in the consumer's demand for vegan snacks. According to Plant Protein’s sources, 6% of US consumers are vegan total of 9.7 million American vegans. The rapid growth in the vegan population in the region helps to boost demand for vegan protein chips.

Growing health consciousness among consumers in the North America are looking for snacks that offer better nutrition like protein crisp. Protein crisps are the healthier alternative to traditional snacks because they are high in protein and low in carbohydrates. Increase in the athlete’s demand for protein rich snacks in Canada helps to boost market growth over forecast period.

The United States and Canada are major shareholding countries in the region due to the increase in product launches by the major key players. For instance, on April 13, 2023, Sunnydale Food, a Canadian company developed a high protein pulse-based ingredient, Faba bean protein concentrate at 65% and is working on increasing protein levels up to 80%. The company expanded its product portfolio of solutions with proteins, high protein crisps and great tasting snacks.

Competitive Landscape

The major global players in the market include Nashua Nutrition, Vega, PopCorners, PURIS, Crespel & Deiters Group, Grande Cheese Company, ABF Ingredients, Shrewd Food, Tyson Foods, Inc. and Shanti Foods.

COVID-19 Impact Analysis

The pandemic led to consumer stockpiling and concerns about food safety. Shelf-stable snacks like protein crisps, which have longer shelf lives, benefited from increased demand during the early stages of the pandemic. With people spending more time at home due to lockdowns and remote work, home snacking increased.

Protein crisps provide a convenient and satisfying option for those looking for quick and healthier snacks. The pandemic accelerated the shift to online shopping, including food purchases. Protein crisp manufacturers with a strong online presence or e-commerce partnerships saw increased sales.

Some manufacturers responded to evolving consumer preferences by introducing new flavors, ingredient formulations, and packaging options. Innovations in protein crisp products attracted consumer attention. Consumers became more interested in snacks with immune-boosting ingredients, such as those fortified with vitamins and minerals. Some protein crisp products were positioned as immunity-enhancing snacks that helps to boost market growth.

Russia-Ukraine War Impact Analysis

The conflict between the Russia-Ukraine disrupts the supply chains of raw materials and ingredients needed to produce protein crisps. Ukraine, is a significant exporter of various agricultural products, including grains. A disruption in grain exports from Ukraine affects the supply of ingredients used in the production of protein crisps. Geopolitical instability in the region leads to fluctuations in commodity prices, including those of agricultural products. Variability in the prices of key ingredients impacts the production costs for protein crisps.

Currency devaluation and economic instability in Russia and Ukraine affect the exchange rates and the cost of importing and exporting protein crisps from this region. Economic disruptions caused by the conflict affect consumer purchasing power. Consumers in the region experience reduced income and face economic uncertainty due to this demand for the protein crisps products decreases.

By Type
• Gluten Free
• Soy Free
• Vegan
• Others

By Flavor
• Vanilla
• Chocolate
• Peanut Butter
• Mocha
• Others

By Packaging
• Pouches
• Cartoons
• Others

By Distribution Channel
• Supermarkets and Hypermarkets
• Grocery Stores
• Convenience Stores
• Specialty Stores
• E-Commerce
• Others

By End-User
• Men
• Women

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On July 19, 2022, ReGrained, Kerry Launched protein crisps in the market. The newly launched product is developed through a partnership with Kerry. Protein crisps help to fulfill consumer's demand for the new sustainable foods.
• On April 03, 2022, Glanbia Nutritionals launched protein solutions in the market that are designed to solve manufacturing and sensory challenges in protein extrusion in the snack and cereal categories with four new ingredients. Using these new ingredients company developed extruded pieces, called Crunchie which can be made into extruded bites or crisps.
• On September 06, 2021, Think launched the High Protein Crisp Bar line in the market. It is designed to be a nutritional workout accompaniment and meal replacement when paired with a protein-packed snack. It is available in the lemon and chocolate flavors. It contains 15 g of protein, 2 g of sugar, and 150 calories or less per serving.

Why Purchase the Report?
• To visualize the global protein crisps market segmentation based on type, flavor, packaging, distribution channel, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of protein crisps market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global protein crisps market report would provide approximately 77 tables, 82 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies