July 21, 2024

Protein Crisps Market Is Driven By Growing Demand For Convenient Protein-Rich Snacks

Protein crisps are wafer-thin crispy snacks made by drying out pure protein ingredients into a crispy chip form. Protein crisps provide a gluten-free and soy-free alternative to regular potato chips while delivering concentrated protein, making them a perfect grab-and-go snack. The global shift towards healthy living and fitness has fueled the demand for convenient protein-rich snacks. Protein crisps come in a variety of flavors like pea protein, chicken protein, egg white protein etc. and help meet daily protein intake goals without compromising on taste or crunchiness.

The global 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 Key Trends:

One of the major trends in the protein crisps market is the introduction of innovative flavors. Leading protein crisp brands are focusing on developing unique flavors to attract health-conscious consumers. For example, several brands now offer protein crisps flavors like ranch, BBQ, sriracha, everything bagel etc. Apart from common savory flavors, some brands have also launched dessert-inspired flavors like chocolate chip, cinnamon sugar, cookies & cream etc. to increase the mass appeal of protein crisps. Another significant trend is the rise of clean label and certified organic protein crisps. Rising consumer preference for simple, recognizable ingredients without fillers, additives or artificial flavors is fueling demand for clean label protein crisps. Several brands are focusing on sourcing non-GMO and organic ingredients to manufacture certified organic protein crisps.

Porter’s Analysis

 

Threat of new entrants: Low capital requirement for manufacturing protein crisps poses threat of new entrants. However, established brands and distribution channels create entry barriers.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. They can negotiate on price and demand product innovation.

Bargaining power of suppliers: Major raw material suppliers like farmers and manufacturers hold less bargaining power due to availability of substitutes.

Threat of new substitutes: Rising health awareness increases threat of new substitutes like protein bars and shakes.

Competitive rivalry: Intense competition exists between established brands on the basis of taste, texture, nutrition and price.

Key Takeaways

The Global Protein Crisps Market Demand is expected to witness high growth. Regional analysis related content comprisesThe North America protein crisp market is projected to dominate the global market during the forecast period. Factors such as rising health consciousness and high disposable income contribute to the large market size.

Key players :

Key players operating in the protein crisps market are 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 key players focus on new product launches and strategic partnerships 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