Protein crisps are snack chips made from protein like nuts, seeds, legumes and grains. They provide nutrition and satiety owing to their high protein content. Protein crisps help manage hunger and support weight management goals. They are gaining popularity as convenient snacks for people pursuing active lifestyles or sports. 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 Opportunity:
The growing burden of chronic diseases globally presents a major market opportunity for protein crisps. Chronic diseases require lifestyle changes including diet modification. Protein crisps can help dietary regime for diabetes, obesity and cardiovascular diseases due to controlled portion size and high protein content supporting muscle growth. This makes protein crisps a popular choice for disease management snacks. The rising prevalence of chronic diseases worldwide will drive the demand for protein-rich convenient snacks like protein crisps in the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the protein crisps market is low as it requires high capital investment for research and product development. Additionally, established brands have strong brand recognition and supplier relationships.
Bargaining power of buyers: The bargaining power of buyers is high in this market. Buyers can easily switch between various brands depending on price and quality. This forces companies to offer competitive prices and better quality products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While a few large suppliers exist for key ingredients like proteins, companies can also choose from a wide range of smaller suppliers.
Threat of new substitutes: The threat of substitutes is high as products like cereal bars, cookies offer similar nutrition. Plant-based meat snacks are also gaining popularity.
Competitive rivalry: The competitive rivalry is high due to the presence of numerous global and local players. Companies compete based on variety, health benefits, taste, and marketing.

SWOT Analysis
Strength: Protein crisps are highly nutritious, gluten-free snacks that satisfy hunger. They are finding increasing acceptance among health-conscious consumers.
Weaknesses: High production costs compared to similar snacks. Lack of variety in flavors limits its appeal.
Opportunities: Growing demand for on-the-go, portable snacks rich in protein. Rising prevalence of lifestyle diseases is driving the need for healthy snack options.
Threats: Strict regulations around food labeling and ingredients. Increased competition from private labels and substitutes like cereal bars.

Key Takeaways

The global Protein Crisps Market Growth  is expected to witness high growth over the forecast period of 2023 to 2030. The market size for protein crisps was valued at US$ 2.59 billion in 2023 and is projected to reach US$ 4.56 billion by 2030, at a CAGR of 6.3%.

Regional analysis - North America currently dominates the global protein crisps market, driven by rising health awareness. The U.S. accounts for the largest share in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increased disposable incomes and changing lifestyles in countries like China and India.

Key players - Key players operating in the protein crisps market include ProtiKraft Foods Inc., RISE Bar, General Mills Inc., Simply Good Foods USA Inc., and Quest Nutrition, LLC. ProtiKraft Foods dominates with its range of protein crisp offerings under the brand name ProtiKraft.

For more insights, read- https://www.newsanalyticspro.com/protein-crisps-market-trends-size-and-share-analysis/