Vegan Snacks Market Size Worth $80.53 Billion by 2030 - Grand View Research, Inc.

SAN FRANCISCO, July 19, 2022 /PRNewswire/ -- The global vegan snacks market size is expected to reach USD 80.53 billion by 2030, registering a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness about plant-based foods including snacks across the globe acts as the major driving force for the market. Moreover, significant changes in the food consumption patterns further contributed to the market growth. Other factors that drive the product demand include the growing veganism across the globe. In the COVID-19 pandemic, the demand for plant-based healthy vegan snacks increased due to their various health benefits. Plant-based protein intake had gained traction during the COVID-19 era to fulfill the nutritional requirements.

Key Industry Insights & Findings from the report:

• Europe held a significant revenue share in 2021 and is expected to grow at a steady CAGR from 2022 to 2030 owing to the popularity of plant-based snacks.
• The savory segment accounted for the largest market share in 2021 due to the high demand for snack products, such as potato and tortilla chips.
• The online distribution channel segment is expected to register the fastest CAGR from 2022 to 2030.
• The growing usage of online shopping portals and mobile apps for grocery shopping is projected to contribute to the segment growth.

Read full market research report with TOC for more latest Insights, "Vegan Snacks Market Size, Share & Trends Analysis Report By Product (Nuts & Seeds, Bakery, Savory), By Distribution Channel (Offline, Online), By Region (North America, EU, APAC), And Segment Forecasts, 2022 - 2030, published by Grand View Research.

Vegan Snacks Market Growth & Trends

Moreover, increased focus on maintaining physical fitness is another major factor expected to propel market growth. A significant rise in the online sales of grocery products during the COVID-19 pandemic contributed to the market growth. Based on products, the global market is categorized into nuts & 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 significant 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 further contributes to the segment growth.

The vegan bakery segment is projected to grow significantly over the forecast period due to the rising demand for healthy bakery products in developed economies. On the basis of 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 credited to the increased focus of key manufacturers on adopting technologically advanced e-commerce technology to boost product sales. Vegan snack manufacturers are choosing door-step delivery with nominal tenure by using the online sales platform. Customers can simply track their orders through web and mobile applications, thereby supporting the segment growth.

Europe accounted for the maximum revenue share in 2021 and is expected to grow at a steady CAGR from 2022 to 2030. The rising demand for plant-based protein intake in the U.K., Germany, and France to maintain sustainable health is driving the market growth. Moreover, significant growth in the sales of plant-based bakery and confectionery products in Spain and Italy contributed to the regional market growth. The growing marketing of plant-based foods through social media and endorsement by celebrities and athletes 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)

• Nuts & Seeds
• Bakery
• Savory
• Confectionery
• Others

Vegan Snacks Market - Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Offline
• Online

Vegan Snacks Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Central & South America
• Brazil
• Middle East & Africa
• South Africa

List of Key Players of the Vegan Snacks Market

• Amy's Kitchen
• Danone S.A
• The Archer Daniels Midland Company
• Daiya Foods Inc.
• Tofutti Brands Inc.
• Eden Foods Inc.
• Sun Opta Inc.,
• Hain Celestial Group Inc.
• Organic Valley Corporative
• Primal Spirit Foods, Inc.
• Upton's Naturals
• Green Pack Food, Inc.
• Allplants Ltd.
• Follow Your Heart

Check out more related studies published by Grand View Research:

• Vegan Confectionery Market - The global vegan confectionery market size is anticipated to reach USD 2.62 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 11.8% from 2022 to 2030. Increasing adoption of veganism among millennials and the working population is one of the key factors driving demand worldwide. Growing awareness regarding animal cruelty and the rise in campaigns targeted at 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 USD 7.10 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.6% from 2022 to 2030. Increasing acceptance of veganism among consumers, especially among millennials, has been fueling market growth. The growing awareness regarding animal cruelty and the negative impacts on the environment caused by the dairy industry has encouraged consumers to opt for plant-based products.
  
  
• New Jersey Vegan Product Market - The New Jersey vegan products market size is expected to reach USD 626.3 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 16.1% from 2021 to 2028. The growing population of lactose-intolerant consumers in the U.S. is expected to aid the market growth as these consumers are increasingly seeking alternatives to dairy products.

Browse through Grand View Research's Consumer F&B Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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