Vegetable Snack Market
Vegetable Snack Market Forecasts to 2030 - Global Analysis By Type (Dried Veggies, Biscuits and Cookies, Chips and Crisps, Nuts and Seeds and Other Types), Packaging Type, Flavor, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Vegetable Snack Market is accounted for $4.9 billion in 2024 and is expected to reach $7.9 billion by 2030 growing at a CAGR of 8.1% during the forecast period. A vegetable snack refers to a small, usually bite-sized portion of vegetables that is consumed between meals as a light and healthy snack option. These snacks are often prepared by cutting vegetables like carrots, cucumbers, bell peppers, or celery into sticks or slices. Sometimes, they are accompanied by dips such as hummus or yogurt-based sauces to enhance flavor. Vegetable snacks are popular for their nutritional value, providing essential vitamins, minerals, and fiber while being low in calories and fat.
According to the Plant-based Foods Association and the Good Food Institute, the overall retail sales of plant-based foods in the United States were about 7.4 billion which was around a 6.2% increase as compared to the previous year.
Market Dynamics:
Driver:
Growing demand for vegan and functional foods
The market is witnessing a surge in demand for vegan and functional foods. Consumers are increasingly gravitating towards plant-based options, driven by health and sustainability concerns. This trend is reshaping product offerings, with companies focusing on innovative, nutrient-rich snacks that cater to diverse dietary preferences. The demand for snacks that offer functional benefits like added vitamins, minerals, and antioxidants is also on the rise, reflecting a shift towards healthier snacking choices among consumers.
Restraint:
Limited shelf life
Unlike processed snacks, vegetables have a shorter span before spoiling, leading to higher inventory management costs and potential waste. This necessitates efficient distribution channels and storage facilities to maintain freshness. Moreover, consumer preferences for convenience and longer shelf life pose hurdles for vegetable snacks. Thus, the market faces significant challenges due to limited shelf life.
Opportunity:
Shifting lifestyle trends
Consumers are increasingly gravitating towards healthier options, driving demand for vegetable-based snacks. This shift is propelled by a growing awareness of health benefits and a desire for convenient, on-the-go snacks. Additionally, there's a rising preference for plant-based diets and sustainability, influencing choices in snack consumption. As a result, innovative vegetable snack options with unique flavors and textures are gaining popularity among health-conscious consumers.
Threat:
Lower product awareness
Despite the growing trend towards healthier snacking options, many consumers remain unaware of the diverse and nutritious offerings available in this segment. This lack of awareness poses a barrier to market penetration and hampers the potential for increased consumption of vegetable-based snacks. Moreover, the niche nature of vegetable snacks makes it harder to penetrate mainstream consumer consciousness.
Covid-19 Impact:
The COVID-19 pandemic profoundly impacted the Vegetable Snack market, triggering notable shifts in consumer behavior. With health-conscious trends on the rise, demand surged for nutritious, plant-based snacks. However, supply chain disruptions and economic uncertainties challenged market stability, leading to fluctuating prices and distribution challenges. Despite these hurdles, innovative product offerings, such as freeze-dried and dehydrated vegetable snacks, gained traction.
The chips and crisps segment is expected to be the largest during the forecast period
The chips and crisps segment is expected to be the largest during the forecast period. These products are made from a variety of vegetables like potatoes, kale, and sweet potatoes, providing a healthier option compared to traditional fried snacks. With their diverse flavors and textures, chips and crisps continue to captivate consumers seeking delicious yet nutritious snacking experiences in today's health-conscious era.
The pouches segment is expected to have the highest CAGR during the forecast period
The pouches segment is expected to have the highest CAGR during the forecast period. These innovative packages preserve the crunch and flavor of veggies, making them ideal for on-the-go consumption. Pouches also cater to health-conscious consumers, providing a convenient way to incorporate more vegetables into their diets. With a wide range of options from mixed veggie blends to single-ingredient snacks, pouches have become a staple in the healthy snack aisle, appealing to busy individuals and families alike.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by increasing health consciousness and demand for convenient, nutritious snacks. Consumers are opting for vegetable-based snacks like kale chips, carrot sticks, and snap peas due to their low calorie and high fiber content. This trend is further fueled by a shift towards plant-based diets and a preference for natural, organic products. Market players are innovating with new flavors and packaging to cater to this growing segment.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. There's a growing awareness among consumers about the importance of healthy eating, leading to an increased demand for snacks that are perceived as nutritious and natural. As disposable incomes rise in many countries across the region, consumers are willing to spend more on premium and healthier snack options, including vegetable snacks. The expansion of retail channels, including supermarkets, hypermarkets, convenience stores, and online platforms, has made vegetable snacks more accessible to a broader consumer base.
Key players in the market
Some of the key players in Vegetable Snack market include Siren Snacks, General Mills Inc., Maple Leaf Foods Inc, Haldiram's, Oumph , Kellogg Company, Eat Natural, Marlow Foods, Peeled Snacks, Hippie Snacks, Green Park Brands, Terra Chips, Upton’s Natural, Sensible Portions, Pop & Bottle, The Real Coconut and Blue Bottle Coffee.
Key Developments:
In February 2024, Haldiram's and Times Prime announced the expansion of their strategic partnership, building upon the success of the 'Azaadi ka Tyohaar' campaign. This landmark collaboration is not just a continuation but a commitment to ensuring a sustained source of joy and exclusive benefits for Times Prime members.
In May 2023, Blue Bottle Coffee and The Weekend collaborated to unveil Samra Origins Coffee, an Ethiopian variety boasting a medium-to-dark roasted aroma. Utilizing advanced freeze-drying technology, this offering promises a unique coffee experience.
Types Covered:
• Dried Veggies
• Biscuits and Cookies
• Chips and Crisps
• Nuts and Seeds
• Other Types
Packaging Types Covered:
• Cans
• Jars
• Pouches
• Other Packaging Types
Flavors Covered:
• Classic
• Exotic
• Sweet and Savory
Distribution Channels Covered:
• Supermarket and Hypermarket
• Convenience Store
• Non-Store-Based
• Store-Based
• Retail Stores
• Online Retail
End Users Covered:
• Health-Conscious Consumers
• Fitness Enthusiasts
• Vegetarians
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Vegetable Snack Market, By Type
5.1 Introduction
5.2 Dried Veggies
5.3 Biscuits and Cookies
5.4 Chips and Crisps
5.5 Nuts and Seeds
5.6 Other Types
6 Global Vegetable Snack Market, By Packaging Type
6.1 Introduction
6.2 Cans
6.3 Jars
6.4 Pouches
6.5 Other Packaging Types
7 Global Vegetable Snack Market, By Flavor
7.1 Introduction
7.2 Classic
7.3 Exotic
7.4 Sweet and Savory
8 Global Vegetable Snack Market, By Distribution Channel
8.1 Introduction
8.2 Supermarket and Hypermarket
8.3 Convenience Store
8.4 Non-Store-Based
8.5 Store-Based
8.6 Retail Stores
8.7 Online Retail
9 Global Vegetable Snack Market, By End User
9.1 Introduction
9.2 Health-Conscious Consumers
9.3 Fitness Enthusiasts
9.4 Vegetarians
9.5 Other End Users
10 Global Vegetable Snack Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Siren Snacks
12.2 General Mills Inc.
12.3 Maple Leaf Foods Inc
12.4 Haldiram's
12.5 Oumph
12.6 Kellogg Company
12.7 Eat Natural
12.8 Marlow Foods
12.9 Peeled Snacks
12.10 Hippie Snacks
12.11 Green Park Brands
12.12 Terra Chips
12.13 Upton’s Natural
12.14 Sensible Portions
12.15 Pop & Bottle
12.16 The Real Coconut
12.17 Blue Bottle Coffee
List of Tables
1 Global Vegetable Snack Market Outlook, By Region (2022-2030) ($MN)
2 Global Vegetable Snack Market Outlook, By Type (2022-2030) ($MN)
3 Global Vegetable Snack Market Outlook, By Dried Veggies (2022-2030) ($MN)
4 Global Vegetable Snack Market Outlook, By Biscuits and Cookies (2022-2030) ($MN)
5 Global Vegetable Snack Market Outlook, By Chips and Crisps (2022-2030) ($MN)
6 Global Vegetable Snack Market Outlook, By Nuts and Seeds (2022-2030) ($MN)
7 Global Vegetable Snack Market Outlook, By Other Types (2022-2030) ($MN)
8 Global Vegetable Snack Market Outlook, By Packaging Type (2022-2030) ($MN)
9 Global Vegetable Snack Market Outlook, By Cans (2022-2030) ($MN)
10 Global Vegetable Snack Market Outlook, By Jars (2022-2030) ($MN)
11 Global Vegetable Snack Market Outlook, By Pouches (2022-2030) ($MN)
12 Global Vegetable Snack Market Outlook, By Other Packaging Types (2022-2030) ($MN)
13 Global Vegetable Snack Market Outlook, By Flavor (2022-2030) ($MN)
14 Global Vegetable Snack Market Outlook, By Classic (2022-2030) ($MN)
15 Global Vegetable Snack Market Outlook, By Exotic (2022-2030) ($MN)
16 Global Vegetable Snack Market Outlook, By Sweet and Savory (2022-2030) ($MN)
17 Global Vegetable Snack Market Outlook, By Distribution Channel (2022-2030) ($MN)
18 Global Vegetable Snack Market Outlook, By Supermarket and Hypermarket (2022-2030) ($MN)
19 Global Vegetable Snack Market Outlook, By Convenience Store (2022-2030) ($MN)
20 Global Vegetable Snack Market Outlook, By Non-Store-Based (2022-2030) ($MN)
21 Global Vegetable Snack Market Outlook, By Store-Based (2022-2030) ($MN)
22 Global Vegetable Snack Market Outlook, By Retail Stores (2022-2030) ($MN)
23 Global Vegetable Snack Market Outlook, By Online Retail (2022-2030) ($MN)
24 Global Vegetable Snack Market Outlook, By End User (2022-2030) ($MN)
25 Global Vegetable Snack Market Outlook, By Health-Conscious Consumers (2022-2030) ($MN)
26 Global Vegetable Snack Market Outlook, By Fitness Enthusiasts (2022-2030) ($MN)
27 Global Vegetable Snack Market Outlook, By Vegetarians (2022-2030) ($MN)
28 Global Vegetable Snack Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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