The demand for convenience foods such as snacks has been increasing at a high pace over the last decade. Snacks manufacturers are introducing new products which include plant-based snacks and plant-based meals. The rising prevalence of illnesses such as diabetes, obesity, and cardiovascular diseases are driving the demand for healthy vegan and vegetarian snacks which, in turn, is propelling the growth of the global plant-based snacks market.
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Some of the key players in the Global Plant-Based Snacks Market are
April 2019: Eat Natural introduced a new plant-based snack bar in the UK market. The product is gluten-free and contains a blend of nuts, fruits, and grains.
March 2018: Unilever Limited launched the Cocoa Chipotle, Pineapple Coconut Rum, Maple Bourbon, and Coconut Curry plant-based organic snack foods.
The global Plant-Based Snacks Market has been segmented on the basis of product type, category, distribution channel, and region
Based on distribution channel, the global plant-based snacks market has been segmented into store-based and non-store-based. The store-based segment has been further divided into supermarkets and hypermarkets, convenience stores, and others. The store-based distribution channel segment is estimated to hold the larger market share in 2019 and is projected to register a moderate growth rate during the forecast period. However, the non-store-based segment is projected to exhibit the higher growth rate. Key manufacturers are launching new products, which can easily be made available to consumers in different regions through e-commerce channels. The mode also helps vendors create brand awareness.
The global plant-based snacks market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The North American plant-based snacks market is also estimated to account for a significant market share in 2019 and is projected to register a significant growth rate during the forecast period. The growing vegan population in the US is expected to drive the growth of the plant-based snacks market during the forecast period.
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