North America to Lead the Vegan Snacks Market
The rising demand for vegan products worldwide as a result of
the health advantages of going vegan and rising veganism are the key factors
driving the growth of the global vegan snacks market.
According to TechSci
Research report, “Vegan Snacks Market– Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2017-2027F” Vegan snacks are becoming
more and more popular as consumers choose meat alternatives. The preference for
plant-based food products has evolved due to numerous factors. The two primary
concerns are criticism of the adverse health effects meat products have on
populations around the world, as well as the environmental effects of the
livestock industry. Developments significantly influence the development of the
vegan snack market in the snacking sector. In addition, vegan snack bars have
become one of the most popular product categories in the vegan snacks market.
The fast-paced lifestyle of
people has opened new opportunities for the snacking industry. Along with this,
people are becoming more aware of the nutritional content of vegan snacks and
the variety of flavors and tastes they offer. Two main categories dominate the
vegan snack market. Vegetables, tubers, fruits, cereals, and legumes are a few
additional familiar sources used in the vegan snack market. Sales of vegan snacks
have increased dramatically among urban residents.
The market for vegan snacks
is expanding during the forecast period due to rising the demand for meat
alternatives. One significant demographic trend that is helping the market grow
is the rapidly ageing population. The role that vegan diets play in nutritional
interventions to manage chronic illnesses and cardiovascular diseases has also
contributed to the popularity of these diets. Sales of snacks made from plants
have increased due to shifting consumer preferences in developing economies.
The convenience of consuming nutrient-dense food is a major factor influencing
the allure of plant-based snacks. Furthermore, the majority of newly released
products made the claim that they had been processed in such a way as to
largely preserve their nutritional value.
During the COVID-19
pandemic, the industry has seen rapid growth owing to the online sales of vegan
food products. Additionally, the industry is growing as the number of vegans
increases globally. Due to the growing veganism, powerful nations like the
U.S., U.K., Australia, Canada, and India are
significantly boosting the industry's growth.
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data Figures spread through 110Pages and an in-depth TOC on the "Vegan Snacks Market"
The Vegan Snacks Market is
segmented based on the product type, distribution channel, region, and
competitive landscape.
On the basis of product
type, the global vegan snacks market is segmented into nuts & seeds, bakery,
savory, confectionery, and others. Among these, the savory segment dominates the market and is expected to
remain dominant during the forecast
period. The significant demand for savory snacks like tortilla chips and
potato chips drives the market. A variety of savory vegan snacks, including
crackers, baked chips, and others, are being produced by manufacturers and the
availability of savory vegan snacks in a variety of flavors and ingredients
fuels the market growth.
Based on distribution
channel, the market is segmented into Supermarkets/Hypermarkets, Departmental
Stores, Specialty Stores, Online, and Others (Convenience Stores, Direct Sales,
etc.). Among these, the online distribution channel will be the fastest growing
segment in the market due to the increase in the online sales of
grocery products contributing to the growth of the vegan snacks market.
On the basis of region, the
market is segmented into North America, Europe, Asia-Pacific, Middle East &
Africa and South America. North America holds the largest share in the global
vegan snacks market because growing awareness of animal cruelty in the food
industry and its detrimental effects on the environment is the main factor
driving the regional market.
Key market players in the
Global Vegan Snacks Market include:
- Amy's Kitchen
- Danone S.A
- The Archer Daniels Midland Company
- Daiya Foods Inc.
- Tofutti Brands Inc.
- Eden Foods Inc.
- Sun Opta Inc.
- Hain Celestial Group Inc.
- Organic Valley Corporative
- Green Pack Food Inc.
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“The rising demand for vegan products
worldwide is a result of the health advantages of going vegan and the rising
veganism and benefits of consuming vegan snacks, which include improved gut
health, immune system support, and reduced inflammation. More consumers are
incorporating vegan snacks into their snacking routines, assisting the market's
expansion. However, many vegan snack product launches by the manufacturers are
anticipated to offer lucrative growth opportunities for the sector. During the
pandemic, there was a sizable demand for nutritious vegan snacks, which was
advantageous for the industry.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Vegan
Snacks Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast 2017-2027, Segmented By Product Type (Nuts & Seeds,
Bakery, Savory, Confectionery, and Others), By Distribution Channel
(Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, Online,
Others (Convenience Stores, Direct Sales, etc.)), By Region, , has
evaluated the future growth potential of vegan snacks market globally and provides statistics and information on market structure, size, share,
and future growth. The report provides cutting-edge market intelligence and helps
decision-makers to make sound investment decisions. Besides, the report also
identifies the emerging trends along with essential drivers, challenges, and
opportunities present in the vegan snacks market globally.
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