SAN FRANCISCO, July 19, 2022 /PRNewswire/ — The global vegan snacks market size is expected to reach $80.53 billion by 2030, recording a CAGR of 6.9% over the forecast period, according to a new report from Grand View Research, Inc. Rising awareness of plant-based foods including snacks across the globe is acting as the major driver of the market. Moreover, significant changes in food consumption habits have further contributed to the growth of the market. Other factors driving product demand include growing veganism across the world. In the COVID-19 pandemic, the demand for healthy plant-based vegan snacks has increased due to their various health benefits. Plant protein intake had gained ground in the era of COVID-19 to meet nutritional needs.
Key industry insights and findings from the report:
- Europe held a large revenue share in 2021 and is expected to grow at a stable CAGR from 2022 to 2030 due to the popularity of plant-based snacks.
- The savory segment accounted for the largest market share in 2021 owing to the high demand for snack products, such as potatoes and tortilla chips.
- The online distribution channel segment is expected to register the fastest CAGR from 2022 to 2030.
- Growing use of online shopping portals and mobile apps for groceries is expected to contribute to the growth of the segment.
Read full market research report with TOC for more insights, “Vegan Snacks Market Size, Share & Trends Analysis Report By Product (Nuts & Seeds, Bakery, Savory), By Distribution Channel (Offline, Online), By Region (North AmericaEU, APAC), And Segment Forecasts, 2022 – 2030, published by Grand View Research.
Vegan Snacks Market Growth and Trends
Moreover, the increased emphasis on maintaining physical fitness is another major factor that is expected to propel the growth of the market. A significant increase in online grocery sales during the COVID-19 pandemic has contributed to the growth of the market. On the basis of product, the global market is categorized into nuts and seeds, bakery, savory, confectionery, and others. Among these, the savory segment contributed to a larger market share in 2021. The market is mainly driven by the large demand for salty savory snacks, such as potato chips, tortilla chips, and others. The availability of different flavors and ingredients in plant-based savory snacks is also contributing to the growth of the segment.
The vegan bakery segment is expected to grow significantly over the forecast period owing to the growing demand for healthy bakery products in developed economies. Based on distribution channels, the industry is segmented offline and online. The online segment is expected to register the fastest CAGR from 2022 to 2030. This growth can be attributed to the increased focus of major manufacturers on adopting technologically advanced e-commerce technology to drive product sales. Vegan snack makers choose door-to-door delivery with a nominal warrant using the online sales platform. Customers can simply track their orders through web and mobile apps, thereby supporting the growth of the segment.
Europe accounted for the peak revenue share in 2021 and is expected to grow at a steady CAGR from 2022 to 2030. Growing demand for plant-based protein intake in the UK, Germanyand France maintaining sustainable health is driving the growth of the market. In addition, the significant growth in sales of plant-based bakery and confectionery products in Spain and Italy contributed to the growth of the regional market. The growing marketing of plant-based foods through social media and endorsement by celebrities and athletes has further increased the demand for vegan snacks in the region.
Vegan Snacks Market Segmentation
Grand View Research has segmented the global vegan snacks market based on product, packaging, distribution channel and region:
Vegan Snacks Market – Product Outlook (Revenue, USD Million, 2017 – 2030)
- Walnut seeds
- Pastry shop
Vegan Snacks Market – Distribution Channel Outlook (Revenue, USD Million, 2017-2030)
Vegan Snacks Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
List of Vegan Snacks Market Key Players
- Amy’s Kitchen
- Danone S.A.
- Archer Daniels Midland Company
- Daiya Foods Inc.
- Brands Tofutti Inc.
- Eden Foods Inc.
- Sun Opta Inc.,
- Hain Celestial Group Inc.
- Organic Valley Corporate
- Primal Spirit Foods, Inc.
- Upton’s natives
- Green Pack Foods, Inc.
- Allplants Ltd.
- Follow your heart
Check out other related studies published by Grand View Research:
- Vegan Confectionery Market – The global vegan confectionery market size is expected to reach $2.62 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 11.8% from 2022 to 2030. The growing adoption of veganism among millennials and the working population is l one of the key factors driving demand globally. Growing awareness of animal cruelty and increase in targeted campaigns on environmental protection and sustainability are also expected to contribute to the growth of the market.
- Vegan Cheese Market – The global vegan cheese market size is expected to reach $7.10 billion by 2030, according to a new report from Grand View Research, Inc. It is expected to grow at a CAGR of 12.6% from 2022 to 2030. The growing acceptance of veganism among consumers, especially among millennials, has fueled the growth of the market. Growing awareness of animal cruelty and negative environmental impacts caused by the dairy industry has encouraged consumers to opt for plant-based products.
- New Jersey Vegan Market – The New Jersey the size of the vegan products market is expected to reach $626.3 million by 2028, according to a new report from Grand View Research, Inc. It is expected to grow at a CAGR of 16.1% from 2021 to 2028. The growing population of lactose intolerant consumers in the United States is expected to contribute to the growth market as these consumers increasingly seek alternatives to dairy products.
Browse F&B industry research reports from Grand View Research.
About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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