+1-786-628-7980
Sign Up/Sign In 
Market Overview
The plant-based snacks market is likely to demonstrate notable revenue growth. The quickly rising demand for plant-based snacks by vegetarians as well as non-vegetarians would drive market growth. According to Market Research Future (MRFR), the global plant-based snacks market is poised to escalate from USD 45.9 BN in 2022 to USD 77.9 BN by 2030, growing at a 7.85% CAGR during the assessment period (2023-2030).
The rising trend of healthy snacking items and increasing awareness of the benefits of plant-based snacks are major driving forces. Eating more healthy plant-based snacks or whole foods without animal products offers greater flexibility and lower risk of heart disease & weight gain. These benefits, alongside the growing health and sustainability concerns, substantiate the plant-based snacks market size.
Also, the rising popularity of plant-based snacks is the primary driving force behind the market’s growth. Rising preference for plant-based snacks among health-conscious people increases market demand and sales. The growing vegan and vegetarian food trend has created new opportunities for industry players. Moreover, the rising consumer demand for convenience foods fosters the plant-based snacks market growth.
Furthermore, the increasing focus of companies on R&D is estimated to impact the plant-based snacks market growth, bringing about new products and improvements in the existing product line. The high demand encourages manufacturers to develop various plant-based snacking items that can attract consumers’ attention. They also run product promotion campaigns that play a vital role in increasing the plant-based snacks market sales.
Plant-based Snacks Market – Segments
The market report is segmented into product types, categories, distribution channels, and regions. The product type segment is sub-segmented into fruit & nut snacks, plant-based snack bars, cereal/grain-based snacks, meat alternative snacks, and others. The category segment is sub-segmented into conventional, organic, and others. The distribution channel segment is sub-segmented into store-based and non-store-based. By region, the plant-based snacks market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
Plant-based Snacks Market – Regional Analysis
Europe dominates the global plant-based snacks market, with its established, technologically advanced food production infrastructure, enabling increased manufacturing of plant-based snacks. Besides, the increasing demand and consumption of plant-based snacks create significant opportunities. Also, the growing trend of veganism and preference for vegan foods create significant plant-based snack market demand.
Request for free sample copy: https://www.marketresearchfuture.com/sample_request/7923
Plant-based Snacks Market – Competitive Landscape
The Plant-based snacks market includes tier-1 and tier-2 players, focusing on promoting their R&D efforts. These market participants embrace strategic growth activities like product introduction, joint ventures, and partnerships. They collaborate with celebrities to improve their market position and expand their consumer bases.
Major Players
Leading plant-based snacks market players include Siren Snacks Inc. (US), Zelle Organic (US), Green Park Snacks Ltd (UK), Primal Spirit Foods Inc. (US), Eat Natural (UK), Louisville Vegan Jerky Co. (US), Conagra Brands, Inc. (US), Nestle S.A. (Switzerland), General Mills Inc. (US), and Unilever Group (UK), among others.
Industry/ Innovation/ Related News
Sept. 28, 2023 – ZenB, a leading plant-based food company, announced its expansion into snacking category with its latest product innovation, ZenB Cracker Crisps. The brand has expanded its whole food offerings into the snack category in response to consumer needs. These new cracker crisps are baked and made with plant-based ingredients, including olive oil & seasonings and the yellow pea base. These baked crackers are flaky & airy and gluten & grain-free snacks.
Regional Analysis
The plant-based snacks market shows significant regional variation. North America and Europe have seen strong growth, driven by consumer demand for healthier and sustainable snacks. Asia-Pacific is also witnessing increased adoption due to changing dietary preferences. South America and Africa exhibit potential for growth, although at a somewhat slower pace, as plant-based trends continue to gain popularity worldwide.
Drivers
The plant-based snacks market is driven by increasing consumer demand for healthier, sustainable food options. Factors like rising health awareness, concerns about environmental impact, dietary restrictions, and innovative product offerings are fueling the growth of this market. Additionally, a shift towards vegan and vegetarian diets is boosting the demand for plant-based snacks.
Opportunities
The plant-based snacks market presents significant opportunities driven by increasing consumer demand for healthier and sustainable food options. With a focus on natural ingredients, sustainability, and health benefits, this market is poised for growth. Innovations in flavor, texture, and convenience can further expand its appeal to a broader consumer base.
Restraints and Challenges
The plant-based snacks market faces challenges related to taste and texture as consumers often compare them to traditional snacks. Additionally, production costs, limited shelf life, and the availability of diverse ingredients can hinder market growth. Regulatory hurdles and competition with established brands are further restraints in this competitive market.
Full Report @ https://www.marketresearchfuture.com/sample_request/7923
Market Segmentation
The plant-based snacks market can be segmented based on various factors including product type (e.g., veggie chips, nut-based snacks, fruit snacks), distribution channel (e.g., supermarkets, online retailers), and region (e.g., North America, Europe, Asia-Pacific). These segments help analyze consumer preferences and regional variations in the growing market for plant-based snacks.
COVID-19 Analysis
The Covid-19 epidemic in 2020 increased demand for contact-free biometric services at airports because they provide identity and verification without any physical touch. Contactless biometric services provide quick and accurate identification while limiting exposure. Additionally, the pandemic has compelled airport management to implement contactless thermal checking biometric equipment to monitor passenger admission by measuring body temperature. Throughout the projected period, it is anticipated that the contactless airport biometric services industry will continue to rise. Airports all around the world are quickly implementing contactless biometric services including face recognition, voice recognition, & 3D advanced fingerprint recognition.
Related Reports:
Jerky Market Research Report Information By Source (Beef, Pork, Poultry) and By Distribution Channel (Store-Based, Non-Store-Based) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
Legumes Market Research Report: Information By Source (Lentils, Beans, Peas, and Others), By Category (Conventional and Organic) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
Europe Hydrogen Generation Market By Application Forecast (2017-2025)
Europe Horticulture Lighting Market By Application Forecast (2018-2024)
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide.
Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients.
Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
