Plant-based Snacks Market

Plant-based Snacks Market was valued at USD 23321 million in 2019 and is expected to register a CAGR of 8.5% during the forecast period.

Plant-based Snacks Market Overview

Plant-based snacks are entirely made from plant-based ingredients and restrict the usage of animal-based products. The plant-based snacks consist of alternative meat snacks, cereal/grain-based snacks, plant-based salted snacks, and other nut snacks. Plant-based beverages contain protein, essential amino acids, vitamins, and minerals, which helps in improving the immune system and minimizes the chances of cardiovascular diseases, obesity, diabetes, and heart attacks while rejuvenating the metabolism of the body.

To have an edge over the competition by knowing the market dynamics and current trends of “Plant-based Snacks Market”, request for Sample Report here

Major Plant-based Snacks Market Drivers

The significant factors driving the growth of the Global Plant-based Snacks Market include the increasing snack consumption among the consumers and the growing health awareness across the globe. The rising health concerns and diseases, including diabetes, obesity, and cardiovascular diseases, have encouraged the consumers to opt for healthier snack alternatives in the form of plant-based snacks. Plant-based products provide several nutritional values and help in maintaining a healthy diet pattern. The rapid increase in the adoption of vegan, vegetarian, and flexitarian diets, will attract a large number of customers towards the consumption of plant-based snacks. Various multinational giants are capitalizing and acquiring small plant-based snack brands and start-ups to expand their plant-based snack offerings across the globe. This expansion will create new opportunities in the market, thereby accelerating the demand for the Global Plant-based Snacks Market. On the other hand, the limited usage of preservatives in plant-based snacks resulting in shorter shelf life, which will hamper the growth of the market over the coming years.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the product type, the Global Plant-based Snacks market is segmented into Meat Alternative Snacks, Cereal/Grain based Snacks, Plant-based Salted Snack, Plant-based Snack Bars, Fruit and Nut Snacks, and Others. The Plant-based Salted Snacks are anticipated to lead the market during the forecast period owing to the increasing demand for flavored plant-based snacks all over the world. The consumers are finding it challenging to stick to plant-based snacks due to the lack of flavors in these natural products. The salt in the snacks enhances overall taste of the products, thus increasing their likeability among the target customers.

Based on nature, the Global Plant-based Snacks market is segmented into Organic and Conventional. Organic Plant-based Snacks are anticipated to lead the market during the forecast period owing to the growing consumer awareness regarding the health benefits offered by organic food products across the globe. The organic snacks are free from pesticides, antibiotics, and addictive with high nutritional value and are environment-friendly. Moreover, the rising number of health diseases such as obesity, diabetes, and cardiovascular diseases, are encouraging the consumers to opt for organic food products to improve their immune system and maintain their overall health.

Based on the flavor, the Global Plant-based Snacks market is segmented into Savory and Sweet. The Savory snacks are expected to grow at a higher CAGR during the forecast period owing to the increasing demand for flavored, delicious, and tasty plant-based snacks among the consumers. The Savory plant-based snacks are the grab-and-go product with a wide range of flavors, colors, and aroma, which are highly preferred by consumers around the world.

Based on the packaging, the Global Plant-based Snacks market is segmented into Pouches, Wrappers, Bags, Tins, and Others. The bag packaging of the snacks is anticipated to lead the market during the forecast period owing to the increasing popularity of bag packaging driven by its remarkable features such as high flexibility, light-weighted, and recyclable. For instance, The Snyder’s of Hanover launched plant-based bags to complement their organic snack line in the US. The bags are supplied by Clear Lam Packaging, Inc., and uses renewable raw materials that are 90% plant-based.

Based on the distribution channel, the Global Plant-based Snacks market is segmented into Hypermarkets/Supermarkets, Convenience Store, Specialty Stores, Online Retail stores, and Others. The Hypermarkets/Supermarkets segment is expected to grow at a higher CAGR during the forecast period owing to the easy availability of a wide range of brands under one roof at attractive discount offers. These stores offer a large display of products which helps the customers to compare the product quality and price.

In case, any of your paint points areas are not covered in the current scope of this report, Request for Customization here

Regional – Segment Analysis

Based on the region, North America and Europe are expected to grow at higher market share during the forecast period. The rising health awareness among the consumers and the growing trend for vegan and flexitarian diets across these developed regions will drastically increase the demand for the plant-based snacks over the coming years. In addition to this, the rising number of diseases such as obesity, diabetes, and cardiovascular diseases, especially in the US and Canada, will encourage the consumers to opt for plant-based healthy snacks. For instance, The American Heart Association reported that cardiovascular diseases are accounting more than 17.6 million deaths per year in 2016 worldwide. The United States possesses 121.5 million citizens who are suffering from cardiovascular disease as per the annual statistical update on heart disease and stroke from the American Heart Association (AHA).

Top Market Players

Various notable players operating in the market include General Mills Inc., Maple Leaf Foods Inc., Unilever, Blue Diamond Growers, Inc., Nestlé, Primal Spirit Foods, Inc., Eat Natural, Green Park Snacks Ltd (Hippeas) , Quorn, Oumph, Uptons Naturals, Drink Eat Well, LLC (Hilary’s) among others.

Key Developments

• • In 2019, General Mills launched Nature Valley Wafer Bars, LÄRABAR plant-based Protein bars, and EPIC Provisions Rise & Grind morning-inspired bars. The consumers widely consume the plant-based snack bars.
  • In 2019, Uptons Naturals launched wheat and protein-based Jerky Bites at Natural Products Expo West, United States. The vegan snacks are an excellent source of protein and vitamin B-12 and are free from GMO’s, soy, trans fat, and cholesterol.
  • In 2017, Hippeas collaborated with CAVU Venture Partners to raise USD 10 Million for the expansion of their business in the plant-based snacks. The plant-based snacks included organic chickpea puffs that are healthy.

Segments covered in the Report:

The Global Plant-based Snacks market has been segmented based on product type, nature, flavour, packaging, distribution channel, and region. Based on product type, the market is segmented Meat Alternative Snacks, Cereal/Grain based Snacks, Plant-based Salted Snack, Plant-based Snack Bars, Fruit and Nut Snacks, and Others. Based on nature, the market is segmented Organic and Conventional. Based on the flavour, the market is segmented Savoury and Sweet. Based on the packaging, the market is segmented Pouches, Wrappers, Bags, Tins, and Others. Based on the distribution channel, the market is segmented Hypermarkets/Supermarkets, Convenience Store, Specialty Stores, Online Retail, and Others.

For detailed scope of the “Plant-based Snacks Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global Plant-based Snacks market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Plant-based Snacks market?
  • Which type of product generated maximum revenues in 2019 and identify the most promising type of products during the forecast period?
  • What are the various packaging areas of global Plant-based Snacks market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Plant-based Snacks Market by Product Type

• • Meat Alternative Snacks
  • Cereal/Grain based Snacks
  • Plant-based Salted Snack
  • Plant-based Snack Bars
  • Fruit and Nut Snacks
  • Others

Global Plant-based Snacks Market by Nature

• • Organic
  • Conventional

Global Plant-based Snacks Market by Flavour

• • Savoury
    • Vegetable Flavour
    • Herb & Spice Flavour
    • Chilly/Pepper Flavour
    • Seafood/Meat Flavour
    • Cheese Flavour
    • Blended Flavor
  • Sweet
    • Citrus Flavour
    • Tropical Flavour
    • Berries Flavour
    • Chocolate Flavour
    • Others

Global Plant-based Snacks Market by Packaging

• • Pouches
  • Wrappers
  • Bags
  • Tins

Global Plant-based Snacks Market by Distribution Channel

• • Hypermarkets/Supermarkets
  • Convenience Store
  • Specialty Stores
  • Online Retail
  • Others

Global Plant-based Snacks Market by Region

• • North America Plant-based Snacks Market (Option 1: As a part of the free 25% customization)

    • North America Plant-based Snacks Market by Product Type
    • North America Plant-based Snacks Market by Nature
    • North America Plant-based Snacks Market by Flavour
    • North America Plant-based Snacks Market by Packaging
    • North America Plant-based Snacks Market by Distribution Channel
    • United States of America (US) Plant-based Snacks Market All-Up
    • Canada Plant-based Snacks Market All-Up

  • Europe Plant-based Snacks Market (Option 2: As a part of the free 25% customization)

    • Europe Plant-based Snacks Market by Product Type
    • Europe Plant-based Snacks Market by Nature
    • Europe Plant-based Snacks Market by Flavour
    • Europe Plant-based Snacks Market by Packaging
    • Europe Plant-based Snacks Market by Distribution Channel
    • United Kingdom (UK) Plant-based Snacks Market All-Up
    • Germany Plant-based Snacks Market All-Up
    • France Plant-based Snacks Market All-Up
    • Spain Plant-based Snacks Market All-Up
    • Rest of Europe Plant-based Snacks Market All-Up

  • Asia-Pacific Plant-based Snacks Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Plant-based Snacks Market by Product Type
    • Asia-Pacific Plant-based Snacks Market by Nature
    • Asia-Pacific Plant-based Snacks Market by Flavour
    • Asia-Pacific Plant-based Snacks Market by Packaging
    • Asia-Pacific Plant-based Snacks Market by Distribution Channel
    • China Plant-based Snacks Market All-Up
    • India Plant-based Snacks Market All-Up
    • Japan Plant-based Snacks Market All-Up
    • Rest of APAC Plant-based Snacks Market All-Up

  • ROW Plant-based Snacks Market (Option 4: As a part of the free 25% customization)

    • RoW Plant-based Snacks Market by Product Type
    • RoW Plant-based Snacks Market by Nature
    • RoW Plant-based Snacks Market by Flavour
    • RoW Plant-based Snacks Market by Packaging
    • RoW Plant-based Snacks Market by Distribution Channel
    • Brazil Plant-based Snacks Market All-Up
    • South Africa Plant-based Snacks Market All-Up
    • Saudi Arabia Plant-based Snacks Market All-Up
    • UAE Plant-based Snacks Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Plant-based Snacks Market All-Up

Global Plant-based Snacks Leading market players (Option 5: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • General Mills Inc.
  • Maple Leaf Foods Inc.
  • Unilever
  • Blue Diamond Growers
  • Nestlé
  • Primal Spirit Foods, Inc.
  • Eat Natural
  • Green Park Snacks Ltd (Hippeas)
  • Quorn
  • Oumph
  • Uptons Naturals
  • Drink Eat Well, LLC (Hilary’s)