NEW YORK, March 20, 2019
NEW YORK, March 20, 2019 /PRNewswire/ -- A recent report published by Persistence Market Research (PMR) delivers an insight-rich look at the global plant-based snacks market for the period 2018 - 2028. According to the report, numerous factors contribute to the growth of the plant-based snacks market, which is projected to record a striking CAGR of over 8% through 2028.
Global plant-based snacks market is estimated to witness a proliferated growth, on account of rising awareness of health and wellness among consumers. Besides, a rapid increase in the adoption of vegan, vegetarian, or flexitarian diets is said to boost the growth of the plant-based snacks market. In addition to this, rising health issues and allergies have encouraged consumers to switch their eating habits and adopt plant-based snacks. A notable shift towards the natural food substitutes has been witnessed among the lactose-intolerant consumers, which is expected to contribute immensely to the growing size of the plant-based snacks market.
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Another significant growth propeller to the plant-based snacks market is the rising concerns pertaining to the animal-based food products. Growing awareness of the animal welfare and treatment has resulted in stringent regulations and ban on several animal-based products, which is predicted to lend sustainable growth to the plant-based snacks market.
Key Insights Derived from the Study of the Global Plant-based Snacks Market
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Manufacturers of the Plant-based Snacks Market Aim for Acquisition to Expand their Business
According to the report on the global plant-based snacks market, the key players of the plant-based snacks market consist of General Mills Inc., The Unilever Group, Nestle, Primal Spirit Foods, Inc., Maple Leaf Foods Inc., Blue Diamond Growers, Inc., Eat Natural, Green Park Snacks Ltd, Louisville Vegan Jerky Company, Eat Real, Quorn, Oumph, Soul Sprout, Upton's Naturals, Nutrifusion, Drink Eat Well, LLC, Go Raw®, Greenleaf Foods, SIREN SNACKS, and Zellee Organic, among others. Manufacturers of the plant-based snacks market have intensified their capitalization to acquire relatively small companies, in order to expand their plant-based snacks business.
These forerunning players of the global plant-based snacks market have been assessed depending on the diversification of their product portfolio, market segmentation based on the profitability, sales footprint, production footprint, channel footprint, and business strategies. These valuable insights will aid the suppliers, distributors, and manufacturers of the plant-based snacks market devise sustainable strategies for their plant-based snacks businesses
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The Global Plant Based Snacks Market has been segmented as presented below:
Global Plant Based Snacks Market, By Geography:
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