The Plant-based Snacks Industry sales study offers a comprehensive analysis on diverse features including production capacities, Plant-based Snacks demand, product developments, sales revenue generation and Plant-based Snacks market outlook across the globe.
market research report by Fact.MR, (Leading business and competitive intelligence provider) on global Plant-based Snacks Market sales initiates with an outlook of the market, followed by the scrutiny of the demand and consumption volumes and share and size of various end-use segments
The global plant-based snacks market is valued at US$ 34.6 billion in 2023 and is projected to reach US$ 80 billion by the end of 2033, expanding rapidly at a CAGR of 8.7% from 2023 to 2033.
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The readability score of the Plant-based Snacks market demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.
The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.
This Plant-based Snacks market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Plant-based Snacks along with key stakeholders as well as emerging players associated with the manufacturing of product.
The Key trends Analysis of Extended Plant-based Snacks market also provides dynamics that are responsible for influencing the future sales and demand of over the forecast period.
Key Trends:
- Rising Health Consciousness: Consumers are becoming more health-conscious and are seeking snacks that are not only tasty but also nutritious. Plant-based snacks are often perceived as a healthier alternative to traditional snacks made from animal products.
- Sustainability: Environmental concerns and a desire to reduce the carbon footprint are driving consumers toward plant-based options. Plant-based snacks are often considered more sustainable because they require fewer natural resources, such as water and land, to produce.
- Innovation in Ingredients: Food manufacturers are continually developing new ingredients and formulations to mimic the taste and texture of traditional snacks while using plant-based ingredients. Examples include snacks made from ingredients like pea protein, chickpeas, lentils, and various grains.
- Clean Label: Consumers are increasingly looking for snacks with clean and transparent ingredient labels. They want to know what goes into their food and prefer products with minimal additives and preservatives.
- Convenience and Portability: Snacking on-the-go is a common lifestyle choice, and plant-based snacks are meeting this demand with convenient and portable options such as plant-based protein bars, jerky, and single-serve portions of nuts and seeds.
- Flavor Innovation: Companies are focusing on developing a wide range of flavors and taste profiles to appeal to diverse consumer preferences. Bold and unique flavors can make plant-based snacks more appealing.
- Retail Expansion: Plant-based snacks are becoming more widely available in grocery stores, convenience stores, and online retailers. This increased accessibility is driving growth in the market.
- Brand Diversification: Established food companies, as well as startups, are expanding their product portfolios to include plant-based snack options. This diversification is leading to increased competition and innovation.
- Ethical and Lifestyle Choices: Many consumers choose plant-based snacks due to ethical reasons, such as animal welfare concerns. Additionally, plant-based snacks often align with various dietary choices, including vegetarian, vegan, and flexitarian diets.
- Nutritional Enhancement: Some plant-based snacks are fortified with vitamins, minerals, and other nutritional elements to make them a more well-rounded and attractive option for health-conscious consumers.
Key Company Profile
- Unilever Group
- Nestle S.A.
- Green Park Snacks
- Quorn
- General Mills
- Maple Leaf Foods
- Conagra Brands Inc.
- Blue Diamonds Growers Inc.
- Eat Natural
How will be insights and market estimations provided in the Fact.MR report on the demand of Plant-based Snacks make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Plant-based Snacks market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
Competitive Landscape
A winning strategy to move ahead in the plant-based snacks market is to focus on innovation, offering a wide range of unique and flavorful products that appeal to health-conscious consumers who are looking for convenient and tasty snacking options. This can include investing in research and development to create new and exciting plant-based snack products that are both healthy and delicious.
By focusing on innovation, sustainability, and brand building, companies in the plant-based snacks market can develop a winning strategy that positions them for long-term success. Nestlé, Unilever Group, Soul Sprout, Oumph!, Quorn, and Green Park Snacks are among the top brands in the snacks industry.
- Customers have widely consumed plant-based snack bars such as EPIC Provisions Rise & Grind morning-inspired bars, LARABAR Plant-based protein bars, and Nature Valley Wafer Bars introduced by General Mills in 2019.
- At the Natural Products Expo West in the United States in 2019, Uptons Naturals introduced Jerk Bites made of wheat and protein. The vegan snacks are free of GMO soybean, trans fat, and cholesterol, and are a great source of protein and vitamin B12.
Plant-based Snacks Industry Segmentation
- By Type :
- Meat-alternative Snacks
- Grain-based Snacks
- Fruit & Nut Snacks
- Plant-based Snack Bars
- Others
- By Category :
- Conventional
- Organic
- By Source :
- Vegetables
- Fruits
- Cereals
- Tubers
- Others
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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