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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:
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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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