Rising awareness of the health benefits and growing vegan population, is expected to drive market expansion in the near future at a CAGR of 7.20% during the forecast period 2023 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global Vegan Snacks Market” that contains information from 2018 to 2032. The vegan snacks market is estimated to register a CAGR of 7.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global 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, and Primal Spirit Foods, Inc.

Market Highlights

The global vegan snacks market is accounted to register a CAGR of 7.20% during the forecast period and is estimated to reach USD 83.2 billion by 2032.

Increasing health consciousness among consumers is propelling demand for nutritious and sustainable alternatives to traditional animal-based products. Additionally, growing awareness of environmental issues, such as climate change and animal welfare concerns, is prompting more people to adopt plant-based diets. The advancements in food technology and product innovation are expanding the variety and quality of plant-based options available in the market. Moreover, changing dietary preferences and lifestyle choices, coupled with the convenience offered by e-commerce platforms, are further fueling the growth of the plant-based foods market.

Segment Analysis

The global vegan snacks market has been segmented based on product type, and distribution channel.

On the basis of product, the market is segmented into nuts & seeds, bakery, savory, confectionery, and others. The bakery segment was attributed to holding the largest market share in 2022. Expanding vegan customer base and rising need for easy snack choices will boost worldwide sales.

Based on distribution channel, the global vegan snacks market has been segmented into online, and offline. The offline segment was expected to hold the largest market share in 2022. Product awareness and sales may be increased through in-store experiences, sample opportunities, and partnerships between vegan snack businesses and physical shops.

Regional Analysis

The global vegan snacks market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe vegan snacks market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The vegan snacks market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World vegan snacks market comprises of Middle East, Africa, and Latin America.

The largest market share for vegan snacks was maintained by the North American regional sector due to the region's robust health and wellness trend. Additionally, the growing availability of vegan options in mainstream grocery stores and restaurants is driving consumer adoption. Furthermore, the influence of celebrity endorsements and social media influencers is amplifying awareness and interest in plant-based eating. Moreover, North America's culturally diverse population fosters culinary innovation, leading to the creation of unique and appealing vegan snack options tailored to diverse tastes and preferences.

Moreover, in Europe, the sales of vegan snacks are expected to rise as a result of increasing environmental consciousness and sustainability initiatives. Furthermore, government policies promoting plant-based diets and reducing meat consumption are shaping consumer behavior. Additionally, the strong presence of health-conscious consumers in European markets is driving demand for nutritious and wholesome vegan snacks. Moreover, Europe's rich culinary heritage and tradition of embracing plant-based ingredients are contributing to the proliferation of innovative and flavorful vegan snack options across the region.

Additionally, the sales of vegan snacks in the Asia Pacific region are set to increase due to the rising popularity of plant-based diets among younger generations. Additionally, the influence of Western dietary trends and the adoption of veganism as a lifestyle choice are driving consumer demand. Furthermore, Asia Pacific's diverse food culture and tradition of vegetarianism provide a fertile ground for the development of unique and culturally-inspired vegan snack options. Moreover, the growing availability of vegan snacks in convenience stores and online platforms is enhancing accessibility and fueling market growth.