Vegan Snacks Market Size was valued at USD 44.5 Billion in 2022. The Vegan Snacks market industry is projected to grow from USD 47.7 Billion in 2023 to USD 83.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032). Rising awareness of the health benefits associated with plant-based diets and expanding vegan demographic are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR is expected to reflect the soaring popularity of plant-based diets, driven by growing awareness of their health benefits. The popularity of plant-based diets is soaring because people are becoming more aware of the health benefits they offer. Plant-based foods are rich in essential nutrients like vitamins, minerals, and antioxidants that keep our bodies healthy. Research shows that eating more plant-based foods can lower the risk of serious diseases like heart disease, diabetes, and some cancers. Plus, the fiber in plant foods helps with digestion and makes us feel full and energized.
As more people focus on their health, they're turning away from animal-based products and embracing plant-based alternatives. They see plant-based diets as a way to improve their vitality and live longer, healthier lives. This change in attitude toward food reflects a deeper understanding of how diet affects well-being.
Social media plays a big role in spreading the word about plant-based living. Influencers and health advocates share mouth-watering plant-based recipes and inspire others to try them. This cultural shift toward plant-based eating marks a new era of mindful food choices, where people prioritize their health and well-being with every bite they take. As more people recognize the health benefits of plant-based diets, the demand for vegan snacks and other plant-based products will continue to grow. This shift in consumer preferences is driving the market for plant-based snacks toward unprecedented levels of success and prosperity.
Moreover, the ethical considerations surrounding animal welfare are also influencing consumer behavior. As people become more conscious of the treatment of animals in the food industry, they are choosing plant-based alternatives as a way to align their values with their dietary choices. This compassionate approach to food consumption resonates with a growing segment of the population, further driving the demand for vegan snacks and plant-based products. The rise of plant-based diets represents a multifaceted movement towards a more sustainable, ethical, and health-conscious way of living. As this awareness continues to spread, the market for vegan snacks is poised for continued growth and expansion, catering to the evolving preferences of consumers worldwide.
For instance, in September 2023, Amy's Kitchen launched the multipack burritos. The multipacks feature two beloved options: the bean, rice & cheese burrito with cheddar cheese, and the non-dairy bean & rice burrito. As per Amy's Kitchen's commitment to quality, these burritos are crafted with premium organic and non-GMO ingredients, promising a delectable vegan snack or light meal prepared from scratch.. Thus, such initiatives in the market driving the vegan snacks market revenue.
The vegan snacks market segmentation, based on product includes nuts & seeds, bakery, savory, confectionery, and others. The bakery segment dominated the market, accounting for 35% of market revenue (15.6 Billion). Growing demand for convenient snack options and expanding vegan consumer base to increase the sales.
The Vegan Snacks market segmentation, based on distribution channel, includes online, and offline. The offline category generated the most income (60%). In-Store experience & sampling opportunities and collaborations between vegan snack brands and offline retailers can enhance product visibility and drive sales.
Figure 1: Vegan Snacks Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Vegan Snacks market area will dominate this market, due to increasing awareness of the health benefits associated with plant-based diets, including reduced risk of chronic diseases and improved overall well-being, has fueled consumer demand for vegan snacks.. In addition, mainstream acceptance has made vegan snacks more accessible and appealing to a broader audience, leading to increased sales as consumers across North America incorporate plant-based snacks into their diets.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VEGAN SNACKS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Vegan Snacks market accounts for the second-largest market share. Europe has witnessed a surge in environmental awareness and sustainability concerns, prompting many consumers to adopt plant-based diets as a way to reduce their environmental footprint. Further, the German Vegan Snacks market held the largest market share, and the UK Vegan Snacks market was the fastest growing market in the European region
The Asia-Pacific Vegan Snacks Market is expected to grow at the fastest CAGR from 2023 to 2032. With increasing rates of lifestyle-related diseases such as obesity and diabetes, consumers are turning to vegan snacks as a way to incorporate more nutritious and wholesome foods into their diets. Moreover, China’s Vegan Snacks market held the largest market share, and the Indian Vegan Snacks market was the fastest growing market in the Asia-Pacific region.
Leading market players continually strive to differentiate themselves through innovation, product quality, and brand positioning. These industry giants leverage their extensive resources and distribution networks to maintain a competitive edge in the market. Market developments, such as product diversification, strategic partnerships, and mergers and acquisitions, play a crucial role in shaping the competitive dynamics of the industry. These developments enable companies to expand their product portfolios, enter new markets, and strengthen their market presence.
Amidst these market developments, the vegan snacks industry is witnessing robust growth, driven by changing consumer preferences, increasing health consciousness, and growing awareness of sustainability issues. As consumers seek healthier and more ethical snack options, the vegan snacks industry is experiencing a surge in demand across various regions. Market players are capitalizing on this trend by introducing innovative plant-based snacks that cater to a wide range of dietary preferences and taste profiles. With the continued evolution of the vegan snacks industry, competition is expected to intensify, driving further innovation and market expansion.
Major players in the Vegan Snacks market, including Amy’s Kitchen, Danone S.A., The Archer Daniels Midland Company, and Daiya Foods, Inc. and others, are attempting to increase market demand by investing in research and development operations.
Amy's Kitchen is a pioneering company in the vegan snacks industry, renowned for its commitment to crafting delicious and wholesome plant-based products. Founded in 1987, Amy's Kitchen has earned a reputation for its high-quality, organic ingredients and innovative recipes. The company offers a diverse range of vegan snacks, including frozen meals, soups, pizzas, and snacks, catering to the needs of health-conscious consumers. Amy's Kitchen prioritizes sustainability and transparency, sourcing ingredients responsibly and utilizing eco-friendly packaging. With a focus on taste, nutrition, and environmental stewardship, Amy's Kitchen continues to be a trusted leader in the vegan snacks market, satisfying the cravings of consumers seeking convenient, flavorful, and ethical snack options.
Danone S.A. is a multinational food company that has made significant strides in the vegan snacks market. With a strong commitment to sustainability and health, Danone offers a range of plant-based snacks and dairy alternatives under its various brands. Leveraging its presence and extensive research and development capabilities, Danone delivers innovative vegan snack options that meet the evolving preferences of consumers worldwide. The company's dedication to environmental stewardship and corporate responsibility resonates with consumers seeking ethical and nutritious snack choices. Danone's diverse portfolio of vegan snacks reflects its mission to promote healthier eating habits and contribute to a more sustainable food system, solidifying its position as a key player in the burgeoning vegan snacks industry.
Vegan Snacks Industry Developments
February 2021: Danone initiated its acquisition of Follow Your Heart, a renowned plant-based cheese and mayo brand. Through a share purchase agreement, Danone secured 100% ownership of Earth Island, the parent company of Follow Your Heart. This strategic move underscores Danone's commitment to bolstering its presence in the plant-based sector.
July 2021: Daiya introduced its online store, offering a direct way for fans and those interested in exploring plant-based eating to purchase its full range of dairy-, gluten-, and soy-free foods. With the increasing popularity of direct-to-consumer platforms, Daiya is committed to enhancing its e-commerce capabilities through this convenient online store. This platform provides an accessible and user-friendly avenue for customers to explore and buy Daiya's diverse array of plant-based products, including dairy-free cheeses and gluten-free pizzas.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 44.5 Billion |
| Market Size 2023 | USD 47.7 Billion |
| Market Size 2032 | USD 83.2 Billion |
| Compound Annual Growth Rate (CAGR) | 7.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Amyโs 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. |
| Key Market Opportunities | Increasing health consciousness and growing vegan population |
| Key Market Dynamics | Proliferation of e-commerce platforms and innovation in ingredients and flavors |
Frequently Asked Questions (FAQ) :
The Vegan Snacks market size was valued at USD 44.5 Billion in 2022.
The market is projected to grow at a CAGR of 7.20% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are 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.
The bakery category dominated the market in 2022.
The offline had the largest share in the market.
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