Increase in awareness about health, development in the retail structure, and rise in demand for convenience food drive the growth of the global organic snacks market
PORTLAND, Ore., Jan. 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Organic Snacks Market by Product Type (Nutrition Bars, Candy Bars, Salty Snacks, Nuts, and Others), Distribution Channel (Retail Stores, Supermarket/Hypermarket, Convenience Stores, and E - commerce), and Generation (Millennial (18 - 34), Generation X (34 - 50), and Baby Boomers (51 - 69)): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global Organic Snacks industry generated $8.7 billion in 2017, and is anticipated to generate $24.03 billion by 2025, witnessing a CAGR of 13.6% from 2018 to 2025.
Prime determinants of growth
Increase in awareness about health, development in the retail structure, and rise in demand for convenience food drive the growth of the global organic snacks market. However, high cost of production hinders the market growth. On the other hand, surge in willingness of consumers on buying premium and environment friendly products presents new opportunities in the coming years.
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The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global organic snacks market.
People have become more health conscious, which in turn, boosted the demand for organic snacks.
Salty snacks segment to lead in terms of revenue through 2025
Among product types, the salty snacks segment was the largest in 2017, capturing nearly two-fifths of the market share and would maintain its dominance through 2025. The market for salty snacks is driven by increasing consumption of convenient food items and easy availability of such products all over the world. However, the candy bars segment would grow at the fastest CAGR of 15.2% from 2018 to 2025. This is because organic candy bars have no additives and are healthier alternative to the regular candy bars.
Retail stores segment to be dominant through 2025
Among distribution channels, the retail stores segment accounted for more than one-third of the market share in 2017 and would retain its dominance through 2025. The option of having choice combined with improving retail infrastructure all around the world supplements the growth of the retail store segment in the organic snacks market. However, the e-commerce segment is likely to witness the fastest CAGR of 15.9% during the forecast period. This is due to the online platform offering ease of accessibility to its customer.
North America to maintain revenue lead through 2025
Among regions, the market in North America was the largest in 2017, grabbing 61.6% of the market share and is likely to dominate the market through 2025. This is due to increasing consumption of convenience foods such as snacks and rising concerns about health and fitness in the region. However, the market in Asia-Pacific would achieve the fastest CAGR of 16.3% during the forecast period. The report also analyzes regions such as Europe and LAMEA.
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Leading Market Players
Made in Nature
Kadac Pty Ltd
Woodstock Farms Manufacturing
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