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Press Release
As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
According to a new report by EMR titled, 'Global Plant Based Snacks Market Report and Forecast 2021-2026', the global market for plant based snacks is expected to grow at a CAGR of 8.7% in the forecast period of 2021-2026 to reach a value of USD 57 billion by 2026.
The market for plant based snacks is driven by the introduction of new flavours to the bland taste of plant based snacks. The salted plant based snacks are gaining a lot of traction in the market as it enhances the taste of the product and likeability for the consumers. Therefore, aiding the market growth of the product in the forecast period. The market is further aided by aggressive competition in the market, further propelling the market growth. In addition, product innovations and easy availability of the product is invigorating the market growth.
The rising expansions by the key industry players, like Maple Leaf Foods Inc. (TSE: MFI) and General Mills Inc. (NYSE: GIS) are aiding the market growth. Maple Leaf Foods Inc. announced in September 2020 that its subsidiary Greenleaf Foods, SPC, has started a sales channel with Dot Foods, the largest foodservice redistribution company in the U.S. The Lightlife Foods produces more than 30 products, including plant based tempeh, at its facility in Turner Falls, Mass. Further such innovations by the key players are expected to aid the market growth.
Market Analysis by Nature, Flavour, Product Type, Packaging Type, Distribution Channel, and Region:
Key Findings of the Report:
Key Offerings of the Report:
Maple Leaf Foods Inc., General Mills Inc., Unilever Plc, Primal Spirit Foods, Inc., Wyandot, Inc., Brad's Plant Based, LLC, and SunOpta Grains and Foods, Inc., among others, are the key players in the global plant based snacks market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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