Vegetable Snacks Market Size Was Valued at USD 4.58 Billion in 2023 and is Projected to Reach USD 6.58 Billion by 2032, Growing at a CAGR of 4.11% From 2024-2032.
Pune, 24, July 2024: Vegetable Snacks Market Size Was Valued at USD 4.58 Billion in 2023 and is Projected to Reach USD 6.58 Billion by 2032, Growing at a CAGR of 4.11% From 2024-2032.
Vegetable snacks, made from raw, dried, or minimally processed vegetables, offer a healthy alternative to traditional snacks. These pre-packaged options, ranging from chips to dips, are flavorful, high in fiber, vitamins, and minerals, and can be very filling. Last year, the vegetable snacks market reached $4.2 billion, growing 9% from the previous year.
Producers are innovating by combining vegetables like snap peas, beets, and sweet potatoes with nuts and legumes, boosting chickpea use in snacks by 35% and beans by 25%. Despite only 10% of adults meeting daily vegetable recommendations, these tasty, nutritious options are changing perceptions. As people shift away from unhealthy snacking, vegetable snacks offer a satisfying and healthy alternative.
The rising prevalence of health disorders like heart disease, diabetes, and obesity is driving a growing demand for vegan and functional foods. Health-conscious young consumers are increasingly opting for snacks that offer nutritional benefits and meet their dietary goals. The macro-snacking category, particularly fruit-, vegetable-, and legume-based snacks, is projected to grow by up to USD 16 billion over the next five years. With obesity rates soaring globally, healthier snacking alternatives are gaining traction to counteract the adverse health impacts of processed snacks.
The vegetable snacks market is poised for significant growth, fueled by continuous product innovation and variety. Health-conscious consumers are gravitating towards additive-free snacks like nuts, seeds, dried fruits, and vegetable slices. Companies are responding by introducing innovative products such as air-fried chips and Greek yogurt cups. Australia’s CSIRO and Nutri V have launched a healthy vegetable snack using surplus produce, exemplifying the trend towards more sustainable and nutritious snacking options.
Vegetable Snacks Market Regional Insights
North America has dominated the Vegetable Snacks Market in recent years, driven by increased health awareness and a shift towards vegetarian diets. Developed countries like the US and Canada have seen significant growth in plant-based retail sales, aiding business expansion for vegetable snack manufacturers.
In 2021, retail sales of plant-based foods in the US reached $7.4 billion, a 6.2% increase from the previous year, according to the Plant-based Foods Association and the Good Food Institute. The rise in chronic diseases from unhealthy snacking is boosting demand for healthier alternatives. In Canada, snacking accounts for 23% of daily energy intake, particularly among younger children (27%) and older adults (20.8%). Promoting vegetable-based snacks in these developed regions presents a substantial sales opportunity.
The popularity of savory snacks is driven by their variety, flavors, and affordability. Valued at over USD 250 billion globally, savory snacks are highly favored, with chips being the largest segment. Recently, vegetable slices and dried fruits have also gained popularity. A Statista study, based on U.S. Census data and the Simmons National Consumer Survey (NHCS), revealed that about 284.37 million Americans consumed potato chips in 2020. This highlights the convenience and availability of chips and other crispy snacks, leading to significant sales. Consumers' preference for these snacks drives substantial spending, resulting in higher revenue generation in these segments.
NORTH AMERICA USA Canada Mexico EASTERN EUROPE Russia Bulgaria The Czech Republic Hungary Poland Romania Rest Of Eastern Europe WESTERN EUROPE Germany United Kingdom France The Netherlands Italy Spain Rest Of Western Europe ASIA PACIFIC China India Japan South Korea Malaysia Thailand Vietnam The Philippines Australia New-Zealand Rest Of APAC MIDDLE EAST & AFRICA Turkey Bahrain Kuwait Saudi Arabia Qatar UAE Israel South Africa SOUTH AMERICA Brazil Argentina Rest of South America
Vegetable Snacks Key Competitors include:
Seneca Foods Corp. (US) Siren Snacks (US) Maple Leaf Foods Inc. (Canada) Calbee Inc. (Japan) The Kellogg Company (US) General Mills Inc. (US) Upton’s Natural (US) Nestle S.A. (Switzerland) Conagra Brands, Inc. (US) Louisville Vegan Jerky Co (US) Eat Real (US) Oumph (UK) Vegan Rob's (US), and other major players.
Key questions answered in the Vegetable Snacks Market report are:
Which market segment dominated the global Vegetable Snacks market in 2023? What are the current global trends in the Vegetable Snacks market? What future industry applications and trends are emerging in the Vegetable Snacks market? What growth strategies are companies adopting to expand their presence in the Vegetable Snacks market? Who are the leading companies in the Vegetable Snacks market, and what are their product portfolios? What are the primary challenges that the Vegetable Snacks market may face in the future? Which region had the largest share of the Vegetable Snacks market in 2023? How is the regulatory environment influencing the Vegetable Snacks market? Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032 Vegetable Snacks Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region Market Trend Analysis Pestle Analysis Porter’s Five Forces Analysis Industry Value Chain Analysis Ecosystem Regulatory Landscape Price Trend Analysis Patent Analysis Technology Evolution Investment Pockets Vegetable Snacks Market Segmentation Competitive Landscape – Profiles of selected key players in a strategic perspective Competitive landscape – Competitive Benchmarking, Vegetable Snacks Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions Analyst Viewpoint and Conclusion
Introspective Market Research, a Food and Beverages firm, has released the following reports:
Global Plant-Based Beverages Market: The Plant-Based Beverages Market Size Was Valued at USD 19.87 Billion in 2023, and is Projected to Reach USD 45.04 Billion by 2032, Growing at a CAGR of 12.4% From 2024-2032.
Global Kombucha Market: The Kombucha Market size is estimated at 4.5 billion USD in 2023 and is expected to reach 15.22 billion USD by 2032, growing at a CAGR of 14.5% during the forecast period (2024-2032). About us:
Introspective Market Research Private Limited (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
Get in Touch with Us:
Canada Office
Introspective Market Research Private Limited,138 Downes Street Unit 6203, M5E 0E4, Toronto, Canada.
