Plant Based Snacks Market Summary
As per Market Research Future Analysis, the Global Plant-based Snacks Market was valued at USD 45.9 billion in 2023 and is projected to reach USD 77.9 billion by 2032, growing at a CAGR of 7.85% from 2024 to 2032. The market is driven by increasing consumer preference for convenience foods and heightened health awareness. The rise of veganism, particularly among athletes and celebrities, is significantly contributing to market growth, with notable increases in vegan populations reported in regions like the UK and Canada.
Key Market Trends & Highlights
The plant-based snacks market is witnessing significant growth due to various trends.
- Plant-based snack bars are expected to grow at a CAGR of 10.7% from 2022 to 2030.
- The organic plant-based snacks segment is anticipated to grow significantly due to rising health trends.
- Store-based distribution channels accounted for around 80% of total revenue in 2022.
- The European region holds the highest market share, driven by a growing vegan population.
Market Size & Forecast
2023 Market Size | USD 45.9 Billion |
2032 Market Size | USD 77.9 Billion |
CAGR (2024-2032) | 7.85% |
Major Players
Key players include Eat Natural (UK), Primal Spirit Foods Inc. (US), Louisville Vegan Jerky Co. (US), Nestle S.A. (Switzerland), Conagra Brands, Inc. (US), General Mills Inc. (US), Unilever Group (UK), and others.