Global Plant Based Snacks Market, By Product Type (Meat Alternative Snacks, Grain-Based Snacks, Fruit and Nut Snacks, Plant-Based Snack Bars, Wafers, Others), Flavor (Savory, Sweet), Packaging type (Pouches, Wrappers, Bags, Tins, Others), Source (Vegetables, Fruits, Cereal, Tubers, Others), Category (Conventional, Organic), Distribution Channel (Convenience Stores, Mass Merchandisers Specialty Stores, Online Retails) – Industry Trends and Forecast to 2030.
Plant Based Snacks Market Analysis and Size
Plant based snacks contains those ingredients which are resulting of vegetables, fruits, plants including tubers, and cereals. The fiber fraction in plant-based snacks is generally made up of indigestible compounds, including resistant starch, pectin’s, cellulose, and hemicellulose. There are various types of plant-based snacks such as fruits and nuts, cereal-based snacks, snack bars, cookies, and others. A growing number of vegan consumers and rising consumer preference for convenience foods are the main factors cereal-based snacks that drive the market's growth. Increasing concerns about the fitness and availability of an extensive range of plant-based snack products is set to further boost the overall market developments of the plant based snacks market during the forecast period.
Data Bridge Market Research analyses that the plant based snacks market was valued at USD 43.09 billion in 2022 and is expected to reach USD 82.80 billion by 2030, registering a CAGR of 8.9 % during the forecast period of 2023 to 2030. Grain-based snacks is expected to dominate the global plant based snacks market due to increase fibre and protein content in the grain based snacks. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Plant Based Snacks Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015-2020) |
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Quantitative Units |
Revenue in USD Billions, Volumes in Units, Pricing in USD |
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Segments Covered |
Product Type (Meat Alternative Snacks, Grain-Based Snacks, Fruit and Nut Snacks, Plant-Based Snack Bars, Wafers, Others), Flavor (Savory, Sweet), Packaging type (Pouches, Wrappers, Bags, Tins, Others), Source (Vegetables, Fruits, Cereal, Tubers, Others), Category (Conventional, Organic), Distribution Channel (Convenience Stores, Mass Merchandisers Specialty Stores, Online Retails) |
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Countries Covered |
U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA) |
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Market Players Covered |
Maple Leaf Foods (Canada), Quorn (U.K.), Oumph (U.K.), Upton’s Natural (U.S.), Hilary's - Drink Eat Well, LLC (U.S.), ZELLE ORGANIC (U.S.), Siren Snacks (U.S.), Green Park Brands (U.K.), Eat Natural (U.K.), PRIMAL SPIRIT FOODS INC. (U.S.), LOUISVILLE VEGAN JERKY COMPANY (U.S.), Nestle S.A. (Switzerland), Conagra Brands, Inc. (U.S.), General Mills Inc. (U.S.), Unilever (U.K.), Outstanding Foods, Inc. (U.S.), Vegan Rob’s (U.S.), Amy’s Kitchen Inc,(U.S.), Blue Diamond Growers (U.S.), Eat Real (U.S.), Nutrifusion L.L.C (U.S.), Freeland Foods (U.S.), Greenleaf Foods SPC (U.S.) |
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Market Opportunities |
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Market Definition
Plant based snacks offer all the essential vitamins, protein, fats, carbohydrates and minerals for optimal health, and are often higher in phytonutrients and fiber. However, some vegans may need to add a supplement specifically vitamin B12 to ensure they receive all the nutrients required. Plant based snacks are completely made from plant-based ingredients and limit the use of animal based products. Plant based beverages consist protein, vitamins, essential amino acids, and minerals, which helps in minimizes the chances of obesity, diabetes, cardiovascular diseases, and heart attacks.
Plant Based Snacks Market Dynamics
Drivers
- Increasing Shift of the Consumers Towards the Veganism
Growing shift of the consumers towards the veganism is rising the growth of the plant based snacks market. This is due to the growing awareness of the consumers regarding the social impact, health, and sustainability. There is a rising shift of the consumers towards the veganism due to the animal personal health and welfare. In addition, there is a growing demand of the plant-based foods such as cookies, bread, muffins, buns, snacks bar, vegan cake and others. Thus, rising the growth of the plant based snacks market during the forecast period
- Increasing Health Consciousness among Consumers
Increasing health consciousness among consumers is increasing the growth of the market. This is due to the nourishing aids of the plant-based snacks that have stimulated the consumers to choose such products. It has several health benefits that includes reduced risk of several diseases and boost immune function. Plant based snacks are convenient to grab and provide minerals, vitamins, and energy. Rising number of working population has also led in the consumption of plant-based snacks. This is expected to drive the growth of the plant based snacks market during the forecast period
Opportunity
- Increasing Demand for the Meat Substitute
The increase in the demand for plant based snacks market in the global market due to increasing awareness about the availability of meat substitutes that contain approximately the same number of nutritional values, which provides numerous growth opportunities for plant based snacks in the global market
- Rising Awareness towards Veganism
Rising awareness and campaigns by several social welfare societies and animal welfare societies resulted in an augmented customer base for plant-based food items. Growing vegan populations all over the globe have positive impact on the growth of plant based snacks items
Restraints
- Government stringent regulations
There are some factors that are set to hamper the growth of the plant based snacks market, such as lack of awareness regarding the plant based snacks and stringent regulations. High production rate to prepare organic foods is also the reason to hamper the growth of market and due to no usage of preservatives and have less expiry period of plant based products which will hinder the market and can create challenges for the market in the forecast period
Recent Development
- In January 2019, Atlantic Natural Foods Company in U.K. launched a plant-based snacks that included spicy pad thai and tikka masala to expand their spicy food category in the country
Global Plant Based Snacks Market Scope
The plant based snacks market is segmented on the basis of product type, flavor, packaging type, source, category and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Meat Alternative Snacks
- Grain-Based Snacks
- Fruit and Nut Snacks
- Plant-Based Snack Bars
- Wafers
- Others
Flavor
- Savoury
- Sweet
Packaging Type
- Pouches
- Wrappers
- Bags
- Tins
- Others
Source
- Vegetables
- Fruits
- Cereal
- Tubers
- Others
Category
- Conventional
- Organic
Distribution Channel
- Convenience Stores
- Mass Merchandisers Specialty Stores
- Online Retails
Plant Based Snacks Market Regional Analysis/Insights
The plant based snacks market is analysed and market size insights and trends are provided by product type, flavor, packaging type, source, category and distribution channel as referenced above.
The countries covered in the plant based snacks market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
North America dominates the plant based snacks market in terms of market share and revenue and will continue to flourish its dominance during the forecast period of 2023 to 2030. This is due to the rising demand for plant-based snacks in this region. The North America region dominates the plant based snacks market due to increasing government initiatives to enhance consumer knowledge towards innovations in the field of plant based snacks in this region.
During the projected period, Asia-Pacific is expected to be the fastest developing region due to the rising awareness of the animal welfare, growing concerns pertaining to the animal based food products and ban on several animal-based products is rising the growth of the market in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plant Based Snacks Market Share Analysis
The plant based snacks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to plant based snacks market.
Some of the major players operating in the plant based snacks market are:
- Maple Leaf Foods (Canada)
- Quorn (U.K.)
- Oumph (U.K.)
- Upton’s Natural (U.S.)
- Hilary's - Drink Eat Well, LLC (U.S.)
- ZELLE ORGANIC (U.S.)
- Siren Snacks (U.S.)
- Green Park Brands (U.K.)
- Eat Natural (U.K.)
- PRIMAL SPIRIT FOODS INC. (U.S.)
- LOUISVILLE VEGAN JERKY COMPANY (U.S.)
- Nestle S.A. (Switzerland)
- Conagra Brands, Inc. (U.S.)
- General Mills Inc. (U.S.)
- Unilever (U.K.)
- Outstanding Foods, Inc. (U.S.)
- Vegan Rob’s (U.S.)
- Amy’s Kitchen Inc., (U.S.)
- Blue Diamond Growers (U.S.)
- Eat Real (U.S.)
- Nutrifusion L.L.C (U.S.)
- Freeland Foods (U.S.)
- Greenleaf Foods SPC (U.S.)
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