The global organic snacks market generated $8.89 billion in 2018, and is expected to reach $24.12 billion by 2026, growing at a CAGR of 13.7% from 2019 to 2026. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition.
Factors such as increasing awareness about health among consumers, development in the retail structure, and increasing demand for convenience food drive the market growth. However, high cost of production restrains the growth of the market. Conversely, increasing willingness of consumers on buying premium and environment friendly products create new opportunities for growth of the market.
Salty snacks segment to lead in terms of revenue through 2026
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 2026. 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 2026. 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 2026
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 2026. 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.
Baby boomers segment to achieve the fastest growth through 2026
Based on generation, the baby boomers (51-69) segment would grow at the fastest CAGR of 15.3% during the forecast period, 2018-2026. However, the millennial (18-34) segment would grow dominate the market in terms of revenue through 2026.
North America to maintain revenue lead through 2026
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 2026. 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.
Key players of the industry
Leading market players analyzed in the research include Pure Organic, PRANA, Made in Nature, Kadac Pty Ltd, Navitas Naturals, Hormel Foods, Hain Celestial, Conagra Brands, General Mills, and Woodstock Farms Manufacturing. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
Generation X (34-50)
Baby Boomers (51-69)
The report analyzes and forecasts the organic snacks market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global organic snacks market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the organic snacks market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of organic snacks market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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