Plantain Chip Market Size, Share, Growth, and Industry Analysis, By Type (Sweetened and Unsweetened), By Application (Online Sale, and Offline Sale) Regional Insights and Forecast to 2031

Updated On: 22 April 2024

plantain chip market REPORT OVERVIEW

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The global plantain chip market size was in USD 422.86 million 2022 and is expected to reach USD 556.01 million by 2028, exhibiting a CAGR of 4.67% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The plantain chips, which are also referred to as banana chips or platanitos, constitute a well-liked snack produced by thinly cutting and deep-frying either green or ripe plantains. This snack enjoys widespread popularity across numerous countries, particularly in areas where plantains hold the status of a fundamental crop. These regions encompass portions of Africa, Central America, the Caribbean, and Southeast Asia.

COVID-19 Impact: Increased Snacking among Population to Fuel Market Growth

Lockdowns and periods of social distancing resulted in individuals spending more time at home, which led to a rise in snacking. Plantain chips, being a long-lasting and delicious snack, experienced increased demand as consumers sought convenient and appetizing choices. Similar to numerous other sectors, the plantain chip market growth encountered supply chain interruptions attributable to lockdowns, limitations in transportation, and shortages of labor. These interruptions had an impact on the accessibility of both raw plantains and packaging materials.

LATEST TRENDS

"Healthier Varieties, and Flavor Innovations to Fuel Market Growth "

The Healthier Varieties trend in the plantain chip market share reflects the rising consumer desire for plantain chips that are considered healthier alternatives when compared to conventional deep-fried ones. This shift is propelled by an escalating emphasis on health and well-being, with consumers becoming increasingly mindful of their dietary selections. Individuals who prioritize health are seeking plantain chips with reduced oil content. In response to this demand, manufacturers are adopting cooking techniques such as baking or air-frying as opposed to deep-frying. These methods achieve a balance by decreasing the chips' overall fat content while preserving their crisp texture. Producers were venturing into innovative and distinctive flavor profiles to satisfy the appetites of consumers seeking diversity in their snack choices. These offerings encompassed tastes such as chili lime, garlic parmesan, and exotic spice combinations.

plantain chip market SEGMENTATION

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• By Type

Based on Type plantain chip market is classified as Sweetened and Unsweetened.

• By Application

Based on Application plantain chip market is classified as Online Sale, and Offline Sale.

DRIVING FACTORS

"Health Consciousness to Fuel Market Growth "

The plantain chip industry market growth is propelled by the heightened consumer awareness of health and wellness, which has led to an increased demand for healthier snack choices. Plantain chips are frequently regarded as a more health-conscious substitute for traditional potato chips, particularly when they are prepared through methods that promote health, such as baking or air-frying.

"Natural Ingredients to Stimulate Market Progress"

Consumer preferences for natural and minimally processed ingredients in snacks are driving the demand. Plantain chips, with their use of straightforward and easily recognizable ingredients, attract individuals in search of more wholesome choices.

RESTRAINING FACTORS

"Competition from Other Snacks to Harm Market Growth "

In a fiercely competitive snack market, characterized by an array of snack offerings, plantain chips encounter strong competition from well-established snack choices such as potato chips, tortilla chips, and pretzels.

plantain chip market REGIONAL INSIGHTS

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"North America has propelled by a fascination with international and healthier snack choices to Drive Market Share  "

Plantain chips have been on the rise in North America, propelled by a fascination with international and healthier snack choices. The North American market frequently showcases an extensive assortment of plantain chip flavors and seasonings, designed to meet a wide range of taste preferences.

KEY INDUSTRY PLAYERS

"Multitude of companies that played a pivotal role in expansion of plantain chip"

In the plantain chip market, several notable industry leaders held a prominent position. One of these key players is Terra Chips, a subsidiary of The Hain Celestial Group, renowned for its diverse offerings of exotic vegetable and plantain chips, featuring an array of flavors and combinations.

List of Market Players Profiled

• Pacifico Snacks (Colombia)
• Prime Planet (Japan)
• Sunmo (U.K.)
• GOYA (U.S.)
• Grace Foods (U.S.)

REPORT COVERAGE

The future demand for the plantain chip market is covered in this study. The Research report includes the Increased Snacking due to the Covid-19 Impact. The report covers the latest trends in Healthier Varieties. The paper includes a segmentation of the plantain chip market. The research paper includes the driving factors that are Health Consciousness Development to Fuel Market Growth. The report also covers information on Regional Insights where the region which has emerged leading market for plantain chip.