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Global Plant Based Snacks Market: By Nature: Organic, Conventional; By Flavour: Savoury, Sweet; By Product Type: Meat Alternative Snacks, Grain-Based Snacks, Others; By Packaging Type; By Distributional Channel; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments
Global Plant Based Snacks Market Outlook
The global plant based snacks market witnessed a healthy growth in the historical period of 2016-2020. The market 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.
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Rising Adoption of Vegan and Vegetarian Diet is Aiding the Global Market for Plant Based Snacks
The market for plant based snacks is driven by the rising adoption of vegan and vegetarian diet in the developed economies. Economies of North America are significantly contributing to the expanding market size of plant-based snacks. This can be attributed to the rise in the adoption of a vegetarian and vegan diet. Following North America, the Asia Pacific region is demonstrating enormous growth in the plant based snacks industry, as the consumers are inclined towards purchasing products that are associated with health and wellness. Further, the market in the region is highly influenced by the rising disposable incomes, changing lifestyles, and rapid urbanisation, along with the growing awareness regarding the health benefits of consuming plant based snacks.
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Plant Based Snacks: Industry Definition and Segmentation
Plant based snacks are those snacks that are almost purely derived from various plants and are healthy to munch on. They are produced, keeping in mind the health-conscious people as they usually have lower calories and are rich in nutrients.
On the basis of nature, the market is divided into:
- Organic
- Conventional
Based on flavour, the industry can be segmented into:
- Savoury
- Sweet
On the basis of product type, the industry is categorised into:
- Meat Alternative Snacks
- Grain-Based Snacks
- Fruit and Nut Snacks
- Plant-Based Snack Bars
- Others
On the basis of packaging type, the industry is divided into:
- Pouches
- Wrappers
- Bags
- Tins
- Others
By distribution channel, the industry is segregated into:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Concerns Associated with the Health Complications to Aid the Global Market Growth of Plant Based Snacks
The market for plant based snacks is driven by the rising concerns associated with the health complications such as diabetes, obesity, and cardiovascular diseases, which have contributed significantly to the shift from the fried snacks to the healthier snacks. Thereby increasing the market growth of plant based snacks. Further, the rising demand for plant based cereals such as fruit and nut snacks, cereal-based snacks, and plant based snack bars is providing impetus to the market growth as a result of its high nutritional value. The market is also expected to grow in the forecast period aided by the introduction of new products by the major players in the industry.
Key Industry Players in the Global Plant Based Snacks Market
The report gives a detailed analysis of the following key players in the global plant based snacks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Maple Leaf Foods Inc.
- General Mills Inc.
- Unilever Plc
- Primal Spirit Foods, Inc.
- Wyandot, Inc.
- Brad's Plant Based, LLC
- SunOpta Grains and Foods, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Plant Based Snacks Market Analysis
8.1 Key Industry Highlights
8.2 Global Plant Based Snacks Historical Market (2016-2020)
8.3 Global Plant Based Snacks Market Forecast (2021-2026)
8.4 Global Plant Based Snacks Market by Nature
8.4.1 Organic
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Conventional
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Plant Based Snacks Market by Flavour
8.5.1 Savoury
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Sweet
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Plant Based Snacks Market by Product Type
8.6.1 Meat Alternative Snacks
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.2 Grain-Based Snacks
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.3 Fruit and Nut Snacks
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.4 Plant-Based Snack Bars
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2016-2020)
8.6.4.3 Forecast Trend (2021-2026)
8.6.5 Others
8.7 Global Plant Based Snacks Market by Packaging Type
8.7.1 Pouches
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2016-2020)
8.7.1.3 Forecast Trend (2021-2026)
8.7.2 Wrappers
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2016-2020)
8.7.2.3 Forecast Trend (2021-2026)
8.7.3 Bags
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2016-2020)
8.7.3.3 Forecast Trend (2021-2026)
8.7.4 Tins
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2016-2020)
8.7.4.3 Forecast Trend (2021-2026)
8.7.5 Others
8.8 Global Plant Based Snacks Market by Distributional Channel
8.8.1 Supermarkets and Hypermarkets
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2016-2020)
8.8.1.3 Forecast Trend (2021-2026)
8.8.2 Convenience Stores
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2016-2020)
8.8.2.3 Forecast Trend (2021-2026)
8.8.3 Specialty Stores
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2016-2020)
8.8.3.3 Forecast Trend (2021-2026)
8.8.4 Online
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2016-2020)
8.8.4.3 Forecast Trend (2021-2026)
8.8.5 Others
8.9 Global Plant Based Snacks Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Maple Leaf Foods Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 General Mills Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Unilever Plc
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Primal Spirit Foods, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Wyandot, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Brad's Plant Based, LLC
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 SunOpta Grains and Foods, Inc.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Figures and Tables
1. Global Plant Based Snacks Market: Key Industry Highlights, 2016 and 2026
2. Global Plant Based Snacks Historical Market: Breakup by Nature (USD Billion), 2016-2020
3. Global Plant Based Snacks Market Forecast: Breakup by Nature (USD Billion), 2021-2026
4. Global Plant Based Snacks Historical Market: Breakup by Flavour (USD Billion), 2016-2020
5. Global Plant Based Snacks Market Forecast: Breakup by Flavour (USD Billion), 2021-2026
6. Global Plant Based Snacks Historical Market: Breakup by Product Type (USD Billion), 2016-2020
7. Global Plant Based Snacks Market Forecast: Breakup by Product Type (USD Billion), 2021-2026
8. Global Plant Based Snacks Historical Market: Breakup by Packaging Type (USD Billion), 2016-2020
9. Global Plant Based Snacks Market Forecast: Breakup by Packaging Type (USD Billion), 2021-2026
10. Global Plant Based Snacks Historical Market: Breakup by Distributional Channel (USD Billion), 2016-2020
11. Global Plant Based Snacks Market Forecast: Breakup by Distributional Channel (USD Billion), 2021-2026
12. Global Plant Based Snacks Historical Market: Breakup by Region (USD Billion), 2016-2020
13. Global Plant Based Snacks Market Forecast: Breakup by Region (USD Billion), 2021-2026
14. North America Plant Based Snacks Historical Market: Breakup by Country (USD Billion), 2016-2020
15. North America Plant Based Snacks Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Europe Plant Based Snacks Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Europe Plant Based Snacks Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Asia Pacific Plant Based Snacks Historical Market: Breakup by Country (USD Billion), 2016-2020
19. Asia Pacific Plant Based Snacks Market Forecast: Breakup by Country (USD Billion), 2021-2026
20. Latin America Plant Based Snacks Historical Market: Breakup by Country (USD Billion), 2016-2020
21. Latin America Plant Based Snacks Market Forecast: Breakup by Country (USD Billion), 2021-2026
22. Middle East and Africa Plant Based Snacks Historical Market: Breakup by Country (USD Billion), 2016-2020
23. Middle East and Africa Plant Based Snacks Market Forecast: Breakup by Country (USD Billion), 2021-2026
24. Global Plant Based Snacks Market Structure
Key Questions Answered in the Report
The global plant based snacks market is projected to grow at a CAGR of 8.7% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 57 billion by 2026.
The major drivers of the industry, such as rising disposable incomes, increasing population, the growing adoption of a vegan and vegetarian diet, changing lifestyles, rapid urbanisation, and rising awareness regarding the health benefits of consuming plant based snacks, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising demand for plant based cereals and the growing introduction of new products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading natures of plant based snacks in the market are organic and conventional.
The major flavours of plant based snacks in the industry are savoury and sweet.
The significant product types in the market are meat alternative snacks, grain-based snacks, fruit and nut snacks, and plant-based snack bars, among others.
The major packaging types of plant based snacks in the industry are pouches, wrappers, bags, and tins, among others.
The leading distribution channels in the market are supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others.
The major players in the industry are 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.
Analyst Review
The global plant based snacks market is being driven by the rising adoption of vegan diets. Aided by the growing introduction of new products, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 8.7%. The market is projected to reach USD 57 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on nature, the market is segmented into organic and conventional. By flavour, the market is bifurcated into savoury and sweet. Based on product type, the industry is segmented into meat alternative snacks, grain-based snacks, fruit and nut snacks, and plant-based snack bars, among others. By packaging type, the market is categorised into pouches, wrappers, bags, and tins, among others. Based on distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others. The major regional markets for plant based snacks are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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