iCrowdNewswire Feb 2, 2021 5:00 AM ET
Organic Snacks Market size in 2019 is estimated to be $11.3 billion, growing at a CAGR of 13.4% during the forecast period 2020-2025. Snacks are small servings of food eaten between main meals. Organic snacks are non-GMO and contain organic ingredients in food products. Organic snacks are made from USDA-certified organic and non-GMO ingredients that are gluten-free and are healthy for snacking. Increasing health consciousness among consumers and rising demand of ready-to-eat products are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for organic snacks during the forecast period 2020-2025.
Product Type – Segment Analysis
Based on the Product Type, Organic Snacks Market is segmented into Grain Snacks, Nut-Based Snacks, Meat Snacks, Snack Bars, Frozen Snacks, Vegetable & Fruit Snacks, Bakery Snacks, Others. The Snack Bars segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 11.5% during the forecast period 2020-2025. This is mainly owing to increasing awareness about fitness and health and rising demand for go-to healthy snacks with high nutritional value. Moreover, these products have been replacing heavy meal owing to the busy lifestyles and growing number of nuclear families are contributing to the growth of this segment.
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Distribution Channel – Segment Analysis
Based on the Distribution Channel, Organic Snacks Market is segmented into Retail Stores, Supermarket/Hypermarket, Convenience Stores, and E-commerce. In 2019, Supermarket/Hypermarket held the largest share in the Organic Snacks Market. This is mainly owing to increasing convenience shopping and buyers get good quality at lower prices. Moreover, no risk of bad debts and availability of wide assortments of foods is also contributing to the growth of this segment.
Geography – Segment Analysis
North America dominated the Organic Snacks Market share accounting for 43% of the market in 2019. This is mainly owing to growing health-conscious population, rising urban population, increasing middle-class spending, and increasing demand of functional food. According to Organic Trade Association, there are 4,500 certified organic flavors available in the U.S. and the sales of organic food segment increasing among the young consumers for both meals and small servings.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to changing lifestyle and diet and rising consumption and demand of organic foods.
Drivers – Organic Snacks Market
Increasing Health Consciousness
Increasing health consciousness among consumers and rising demand of eating organic foods are some factors driving the growth of Organic Snacks Market. Moreover increasing consumer shift from normal snacks to organic snacks is also set to increase market growth.
Rising Demand of Ready-to-Eat Products
Rising demand of ready-to-eat products and increasing demand of convenience foods among consumers are some factors driving the growth of the market. Moreover, rise in willingness of consumers on buying premium and eco-friendly products further contributing to the growth of Organic Snacks Market.
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Challenges – Organic Snacks Market
High cost of production and shorter shelf life of organic foods are challenging the growth of the market. Moreover, pesticide contamination and high bacterial level in organic food are further restraining its market growth during the forecast period 2020-2025.
Organic Snacks Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Organic Snacks Market. Shortenings top 10 companies are Danone, Hain Celestial Group, General Mills Inc., Made in Nature, Frito-Lay Inc., Conagra brands Inc., Simply Natural LLC, NAVITAS ORGANICS, Hormel Foods Corporation, Kadac Pty Ltd. and Woodstock Farm Manufacturing.
On 10 April 2019, General Mills Inc. has acquisition with Cascadian Farm and is working to advance climate- beneficial foods with the launch of its small-batch, limited-edition Honey Toasted Kernza® cereal.
On 7 March 2018, The Kraft Heinz Company launches next generation food with natural and organic and are accelerating the growth of food and beverages.
In 2019, North America dominates the Organic Snacks Market owing to growing health-conscious population, rising urban population, increasing middle-class spending, and increasing demand of functional food.
Increasing health consciousness among consumers and rising demand of ready-to-eat products is driving the market growth of organic snacks.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Organic Snacks Market report.
High cost of production and shorter shelf life of organic foods are challenging the growth of the market.
Related Reports :
A. Frozen Food Market
B. Gluten-Free Products Market
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