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 light, crispy, and crunchy snacks made from protein ingredients such as whey, soy, pea, and others. They are available in different flavors and contain 0-2 grams of carbohydrates per serving. Protein crisps provide essential amino acid content and help sustain energy levels between meals. They are gaining popularity as an alternative to potato chips among health-conscious consumers.

Market Dynamics:
The Protein Crisps Market is anticipated to witness substantial growth over the forecast period owing to the increasing health consciousness among consumers. According to a survey, nearly 71% of consumers are willing to change purchase habits to support healthy living. This is increasing the demand for low-carb and high-protein snacks like protein crisps.

Another driver fueling the market growth is the on-the-go lifestyle adopted by many individuals. Protein crisps require less time for preparation and consumption compared to traditional high-protein foods, making them a highly convenient snack option. Additionally, continuous innovation in flavors and variety by key manufacturers is also augmenting the protein crisps market expansion. However, high prices of protein crisps compared to potato chips might hamper the market growth.

SWOT Analysis

Strength: Protein crisps are highly nutritious snacks as they are made using protein powders which provide essential proteins and nutrients to the body in a convenient form. Protein crisps come in various flavors which attract health-conscious customers. Manufacturers use advanced processing to ensure protein crisps have a crispy texture like traditional potato chips.

Weakness: The production of protein crisps involves sophisticated manufacturing processes and high-quality ingredients which increases production costs. This makes protein crisps more expensive than regular potato chips. Some customers may find the strong protein taste of protein crisps unappealing.

Opportunity: Rising health awareness among people has increased the demand for convenient, nutritious snacks. Protein crisps help meet this demand as they provide nutrients along with taste and portability. Online shopping has grown significantly, allowing protein crisp brands to directly reach more customers.

Threats: Growing vegan lifestyle has increased the demand for plant-based protein sources. Soy and lentil crisps pose competition as alternative vegan-friendly options. Economic slowdowns can lower discretionary spending on premium snacks like protein crisps.

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 health consciousness among people. Protein crisps help meet the rising demand for nutritious yet tasty snacks that can be consumed anywhere on-the-go.

Regional analysis: North America dominates the global protein crisps market currently due to widespread awareness about protein-rich diets. However, Asia Pacific is expected to provide lucrative growth opportunities owing to improving lifestyles and increasing health expenditure in emerging countries like India and China.

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. Protein crisp manufacturers are investing in product innovation to offer variety in flavors and formats. They also undertake strategic marketing initiatives to increase brand awareness.

Read More: https://www.dailyprbulletin.com/protein-crisps-market-trends-growth-and-regional-outlook/