Plant-based Snacks Market
Plant-based Snacks Market Size, Share & Trends Analysis Report by Nature (Organic, and Conventional), by Product Type (Meat Alternative Snacks, Cereal/Grain-Based Snacks, Fruit & Nut Snacks, Plant-Based Snack Bars, and Others), and by Format (Savoury, and Sweet) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Plant-based snacks market is anticipated to grow at a considerable CAGR of 8.6% during the forecast period. Increasing health consciousness among consumers and increased awareness about health problems are the major factors contributing to the growth of the plant-based snacks market. Health-conscious living has surged the requirement to find nature-based sustainable, preservatives, and chemical-free health foods products. The nutritional benefits of plant-based snacks such as immune function, and reduced risk of several diseases have encouraged consumers to opt for such products. Plant-based snacks are convenient food that provides vitamins, minerals, and energy in a snackable form. Moreover, they offer high nutritional value, such as fiber, minerals, & protein, and other natural properties. Consumers are shifting their eating preferences towards healthy and natural food ingredients which is encouraging the manufacturers to take advantage and offer new and innovative plant-based snacks which are loaded with plant protein. For instance, in 2022, Peperami launched a vegetarian version of the nostalgic meaty stick snacks made from a blend of pea and wheat protein and are flavored with “peppery herbs and spices” that recreate the unique Peperami flavor in a plant-based snack. Each plant-based stick contains 64 calories per serving and is high in plant protein.
Segmental Outlook
The global plant-based snacks market is segmented based on its nature, product type, and format. Based on nature, the market is segmented into organic, and conventional. Based on the product type, the market is categorized into meat alternative snacks, cereal/grain-based snacks, fruit & nut snacks, plant-based snack bars, and others. Further, based on format, the market is categorized into savory, and sweet. Among the product type segment, the meat alternative snacks sub-segment is expected to cater to a prominent market share over the forecast period owing to rising awareness and health concerns among people about the risk of animal-borne disease associated with meat products.
Consumers are becoming more aware of the risk of animal-borne disease associated with meat products which is inclining them towards meat alternatives in the market. The rising awareness is creating an impact on consumers' food habits and a rise in health concerns among people. Apart from health concerns, the spread of various infectious diseases, linked to the consumption of animal products is further creating a market for meat alternative products and thus strongly boosting the growth of meat alternative snacks. Moreover, the ongoing vegan trend around the globe is promoting demand for meat alternatives among key products available in the plant-based snacks market. In response to consumer demand and the growing flexitarian, vegetarian, and vegans population, manufacturers are focusing on producing plant-based meat snacks in the market. In May 2022, Novolutions, the foodtech startup expanded its focus to plant-based protein with the new brand ‘Just Dig In!’ offering a variety of plant-based meat snacks. The new range encompasses Chick*n Oriental Meatballs, Chick*n Seekh Kebabs, Chick*n Spicy Fingers, and Chick*n Chili Cheese Nuggets. The products are available across Modern Bazaar outlets and online portals in Delhi, and the Just Dig In! website.
Regional Outlooks
The global plant-based snacks market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Europe regional market is expected to cater to prominent growth over the forecast period. However, the Asia-Pacific region is anticipated to experience considerable growth in the plant-based snacks market
Global Plant-based Snacks Market Growth, by Region 2022-2028
The European Region Is Expected to Hold Prominent Share in the Global Plant-based Snacks Market
The European region is expected to hold a prominent share in the global plant-based snacks market owing to growing veganism and changing eating preferences among consumers in this region. Veganism in European countries such as the UK is on the rise with change in eating preferences among consumers as a major reason. According to a 2019 survey by Ipsos Mori, commissioned by The Vegan Society, in Great Britain, there has been an increase in the vegan population from 150,000, or 0.25% in 2014 to 600,000 vegans, or 1.16 in 2019. More people in this region are opting for a compassionate lifestyle and more vegan offerings and as result, manufacturers are increasing their vegan offerings with product launches to serve the demand. For instance, in march 2022, LoveRaw launched two new varieties of its vegan peanut butter cups with two flavors to choose from the Milk Chocolate Peanut Butter Cup and the world’s first vegan White Chocolate Peanut Butter cup in the UK. Moreover, vegan peanut butter cups have been made without palm oil, dairy, gluten, or any other artificial ingredient.
Market Players Outlook
The major companies serving the global Plant-based Snacks market include Blue Diamond Growers, Conagra Brands, Inc., General Mills Inc., KIND LLC, Outstanding Foods, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2022, Kellogg Company announced that it is splitting its business into three parts—plant-based, cereal, and snacks—to focus on growth in each category. Kellogg’s will operate these three tax-free spin-offs as independent public companies to maximize the potential of its plant-based food, cereal, and snacking segments.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global plant-based snacks market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Recovery Scenario of Global Plant-based Snacks Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segmentation
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendation
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Blue Diamond Growers
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Development
3.3. Conagra Brands, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Development
3.4. General Mills Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Development
3.5. KIND LLC
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Development
3.6. Outstanding Foods, Inc.
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Development
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Plant-based Snacks Market by Nature
4.1.1. Organic
4.1.2. Conventional
4.2. Global Plant-based Snacks Market by Product Type
4.2.1. Meat Alternative Snacks
4.2.2. Cereal/Grain-Based Snacks
4.2.3. Fruit & Nut Snacks
4.2.4. Plant-Based Snack Bars
4.2.5. Others
4.3. Global Plant-based Snacks Market by Format
4.3.1. Savoury
4.3.2. Sweet
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Amy's Kitchen, Inc.
6.2. Control Alt Foods Private Ltd. (Green Snack Co.)
6.3. Eat Natural
6.4. GoMacro LLC
6.5. Hekabites
6.6. Louisville Vegan Jerky Company
6.7. Nestlé S.A.
6.8. Novolutions Food and Beverage Pvt. Ltd. (Just Dig In)
6.9. PRIMAL SPIRIT FOODS, INC.
6.10. Raw Bites Ltd
6.11. Safe Food Corp. (Sunny Fruit)
6.12. Siren Snacks
6.13. Unilever PLC
6.14. WorldPantry.com, Inc.
1. GLOBAL PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY NATURE, 2021-2028 ($ MILLION)
2. GLOBAL ORGANIC PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL CONVENTIONAL PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
5. GLOBAL MEAT ALTERNATIVE SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL CEREAL/GRAIN-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL FRUIT & NUT SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL PLANT-BASED SNACK BARS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL OTHERS PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY FORMAT, 2021-2028 ($ MILLION)
11. GLOBAL SAVOURY PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL SWEET PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY NATURE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
17. NORTH AMERICAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY FORMAT, 2021-2028 ($ MILLION)
18. EUROPEAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY NATURE, 2021-2028 ($ MILLION)
20. EUROPEAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
21. EUROPEAN PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY FORMAT, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY NATURE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY FORMAT, 2021-2028 ($ MILLION)
26. REST OF THE WORLD PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
27. REST OF THE WORLD PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY NATURE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD PLANT-BASED SNACKS MARKET RESEARCH AND ANALYSIS BY FORMAT, 2021-2028 ($ MILLION)
1. GLOBAL PLANT-BASED SNACKS MARKET SHARE BY NATURE, 2021 VS 2028 (%)
2. GLOBAL Organic PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL Conventional PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL PLANT-BASED SNACKS MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
5. GLOBAL MEAT ALTERNATIVE SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL CEREAL/GRAIN-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL FRUIT & NUT SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL PLANT-BASED SNACK BARS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL OTHERS PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL PLANT-BASED SNACKS MARKET SHARE BY FORMAT, 2021 VS 2028 (%)
11. GLOBAL SAVOURY PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL SWEET PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL PLANT-BASED SNACKS MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. US PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
15. CANADA PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
16. UK PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
17. FRANCE PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
19. ITALY PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
20. SPAIN PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
21. REST OF EUROPE PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
22. INDIA PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
23. CHINA PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
24. JAPAN PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
25. SOUTH KOREA PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD PLANT-BASED SNACKS MARKET SIZE, 2021-2028 ($ MILLION)
