The Rising Popularity of Plant Based and Gluten Free Puffed Crisps and Chips
Introduction
In recent years, there has been a significant shift in consumer preferences towards healthier snack options. This trend has led to the increasing popularity of plant-based and gluten-free puffed crisps and chips. Consumers are becoming more conscious of their dietary choices and are seeking snacks that are not only delicious but also healthier alternatives to traditional fried potato chips. In this report, we will explore the reasons behind the growing demand for plant-based and gluten-free snacks and how companies in this industry are capitalizing on this trend.
Consumer Demand for Healthier Snack Options
One of the main drivers behind the rising popularity of plant-based and gluten-free puffed crisps and chips is the increasing consumer demand for healthier snack options. With growing concerns about obesity, diabetes, and other health issues, consumers are looking for snacks that are lower in calories, fat, and sodium. Plant-based and gluten-free snacks fit the bill as they are often made with natural ingredients and are free from artificial additives and preservatives.
Industry Growth and Market Trends
The plant-based and gluten-free snack industry has experienced significant growth in recent years. According to a report by Grand View Research, the global plant-based snacks market is expected to reach $34.4 billion by 2027, with a compound annual growth rate (CAGR) of 9.8%. This growth is driven by the increasing adoption of plant-based diets, rising awareness about the benefits of gluten-free products, and changing consumer preferences towards healthier snacking options.
Companies Capitalizing on the Trend
Several companies have capitalized on the growing demand for plant-based and gluten-free puffed crisps and chips by introducing innovative products to the market. One such company is Hippeas, which offers a range of organic chickpea puffs that are gluten-free, vegan, and packed with protein and fiber. Another notable player in the industry is LesserEvil, known for its line of organic popcorn and puffs that are free from artificial flavors and preservatives.
Financial Performance of Key Players
The financial performance of companies in the plant-based and gluten-free snack industry has been impressive. For example, Hippeas reported a revenue of $20 million in 2020, representing a 25% increase from the previous year. LesserEvil also saw significant growth, with a revenue of $15 million in 2020, up 20% from the previous year. These figures indicate the growing popularity of plant-based and gluten-free snacks among consumers.
Future Outlook
Looking ahead, the future looks bright for the plant-based and gluten-free puffed crisps and chips industry. With consumers increasingly prioritizing health and wellness, the demand for these healthier snack options is expected to continue to grow. Companies that can innovate and offer unique plant-based and gluten-free products are likely to thrive in this evolving market.
In conclusion, the rising popularity of plant-based and gluten-free puffed crisps and chips is a reflection of changing consumer preferences towards healthier snack options. With the industry experiencing significant growth and key players seeing strong financial performance, it is clear that plant-based and gluten-free snacks are here to stay. As more companies continue to innovate and cater to the growing demand for healthier snacks, we can expect to see even more exciting products hit the market in the coming years.
