Plant-based snacks are made entirely from plant sources. It includes vegetables, grains, nuts, seeds, legumes, and fruits. These plant-based snacks are highly nutritional. There is rising concerns about health complications such as obesity, diabetes, and cardiovascular diseases. This has encouraged consumers to substitute fried snacks with healthier and plant based snack items.
MARKET SCOPE
The "Global Plant-Based Snacks Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the plant-based snacks market with detailed market segmentation by category, product type, distribution channel, and geography. The report provides key statistics on the market status of the plant-based snacks market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on category, the global plant-based snacks market is segmented into organic and conventional
- Based on product type, the global plant-based snacks market is segmented into cereal -based snacks, fruit and nut snacks, meat alternative snacks, and others
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online retails, others
MARKET DYNAMICS
Drivers:
- The growing health consciousness among consumers and availability of a wide range of plant-based snack items are major drivers for the market growth.
- Due to changing lifestyle and the increasing number in the vegan and vegetarian population, the demand for plant-based snacks is growing.
Restraints:
- High cost of products may hamper the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The plant-based snacks market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the plant-based snacks in these regions.
IMPACT OF COVID-19 ON PLANT-BASED SNACKS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the plant-based snacks market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from plant-based snacks market are anticipated to lucrative growth opportunities in the future with the rising demand for plant-based snacks in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the plant-based snacks market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- General Mills Inc.
- Unilever
- Blue Diamond Growers
- Eat Natural
- Nestl?
- Primal Spirit Foods, Inc
- Eat Real
- Green Pack Snacks, Inc.
- Freeland Foods
- Oumph
- Uptons Naturals
- Quorn
- Greenleaf Foods
- Siren Snacks
- Drink Eat Well, LLC
- Maple Leaf Foods
- Specialty Food Association, Inc.
- Amy's Kitchen, Inc.
- Vegan Rob's,
- Conagra Brands, Inc.