Vegan Snacks Market Report 2023: New Product Launches Propels Market Growth - Trends, Opportunities, and Forecasts to 2027
Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Vegan Snacks Market- Global Industry Size, Share, Trends, Opportunity, and Forecast 2017-2027 Segmented By Product Type (Nuts & Seeds, Bakery, Savory, Confectionery, and Others), By Distribution Channel, By Region" report has been added to ResearchAndMarkets.com's offering.
The global vegan snacks market is anticipated to grow at an impressive CAGR during the forecast period
Due to the benefits of consuming vegan snacks, which include improved gut health, immune system support, and reduced inflammation, more consumers are incorporating vegan snacks into their snacking routines, assisting the market's expansion.
Some businesses are aiming their products at people who want to switch to vegan diets to prevent cancer and cardiovascular disease. These assert to give such consumers more options, and by doing so, they seek to strengthen their overall position in the market for vegan snacks worldwide.
The manufacturers are expected to launch a significant number of vegan snacks, which has opened lucrative growth opportunities for the sector. During the pandemic, there was a great demand for nutritious vegan snacks, which was advantageous for the industry.
The healthcare professional advised daily intake of nutritious food to maintain the body's immunity during the COVID-19 pandemic. Additionally, the increase in snacking behaviors contributed positively to the market's expansion.
One of the main aspects influencing the appeal of vegan snacks is the convenience of consuming nutritious food. Furthermore, most newly released products regarded processing techniques that largely preserved their nutritional value. This is another encouraging development in the market for vegan snacks.
Launch Of New Products Propels the Market Growth
The significant number of people in rural areas who follow vegan, vegetarian, or flexitarian diets is a positive development for the promotion of vegan snacks. Manufacturers are releasing new, occasionally exotic flavors. One illustration is giving vegan snacks meat-like flavors. This has given the market's growth a significant boost.
The demand for plant-based snacks has seen improved prospects in recent years as organic plant-based snacks have gained popularity in emerging markets like some developing economies in Asia. For instance, Healthline, a US-based company, offers vegan snacks which are made up of fruit and nut butter, with nutritional advantages While nut butter is rich in fiber and protein that can help one feel full and energized, fruits offer fiber, vitamins, and minerals. Bananas or apples with cashew, almond, or peanut butter are common pairings. Hence, this factor is anticipated to drive the growth of the vegan snacks market globally.
The Rising Popularity of Vegan Diets Propels the Market Growth
Vegan diets have become increasingly popular due to their use in nutritional interventions to treat chronic illnesses and cardiovascular diseases.
A vegan diet comprises plants such as vegetables, grains, nuts, and fruits. Vegans abstain from eating foods derived from animals, such as dairy and eggs. The rising popularity of vegan diets fuels the growth of the vegan snacks market. Companies are launching and developing vegan snacks to attract consumers.
For instance, in 2021, Dr. Gino Bortone, the creator of Cheetos Frito-Twisted Lay's Cheetos, announced a new cheesy vegan snack. Also, Protein Twists, a high-protein, cheesy snack, were introduced by the plant-based investment firm Eat Well Group into 300 Federated Co-Operatives expanded to other Co-Operatives, select retailers, and online sales.
Company Profiles: Detailed analysis of the major companies present in the global vegan snacks market.
The Archer Daniels Midland Company
Daiya Foods Inc.
Tofutti Brands Inc.
Eden Foods Inc.
Sun Opta Inc.
Hain Celestial Group Inc.
Organic Valley Corporative
Green Pack Food Inc
Vegan Snacks Market, By Product Type:
Nuts & Seeds
Vegan Snacks Market, By Distribution Channel:
Vegan Snacks Market, By Region
The United States
Middle East & Africa
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