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 snacks made from protein ingredients like lentils, chickpeas or whey protein. They are baked and sheeted into crispy, light and crunchy wafer sheets. Protein crisps provide excellent source of plant-based protein and fiber. They are low in calories and fat as compared to potato chips or corn chips. Being highly nutritious and gluten-free, protein crisps are gaining popularity among health conscious consumers.

Market key trends:
One of the key trends driving the growth of protein crisps market is rising health consciousness among consumers. People are increasingly aware about the importance of balanced diet and nutritional snacking options between meals. Protein crisps are seen as a healthier substitute for traditional potato chips or snacks as they provide sustained release of energy along with high protein and fiber content. Furthermore, growing demand for plant-based and vegan protein options has also fueled the demand for protein crisps made from legumes or pulses. Majority of the protein crisp manufacturers are innovating their product portfolio with exotic flavors and textures to increase the popularity of this emerging snack segment.

Porter's Analysis
Threat of new entrants: New players need to invest heavy capital to build manufacturing plants and distribution networks which acts as a barrier. Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players in the market offering substitutes. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes. Threat of new substitutes: Threat from substitutes like flavored nuts is moderate as Protein Crisps have health benefits. Competitive rivalry: Intense competition exists among existing players.

SWOT Analysis
Strengths: Protein Crisps are nutritious and gluten free snacks. Weaknesses: High production costs and short shelf life. Opportunities: Growing health-conscious population and expanding retail landscape in developing nations. Threats: Stringent regulatory frameworks and threat from other healthy snacks.

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 awareness among consumers. Regionally, North America dominated the market in 2023 with a share of over 35%, followed by Europe, owing to shifting preferences towards healthy snacking options.

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 crisps provide an option of healthy snacking to people who follow high protein diet. The US snacks market offers opportunities for protein crisp makers due to increasing demand for convenience foods.

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