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Organic Snacks Market Analysis, Major Competitor and Strategies, Regional Outlook 2019 To 2023

Market Definition:

Organic snacks refers to ready-to-eat food that is packaged and stays fresh for a longer period of time. The demand for organic snacks is proliferating across the globe owing to the rising health consciousness and a growing inclination towards products that are made from organically farmed raw materials. According to the latest report by Market Research Future (MRFR), the global organic snacks market is estimated to garner substantial ascension during the forecast period.

Market Scenario and Growth Factors:

There are many factors attributing to the growth of the global organic snacks market over the assessment period. Some of these factors include the rising awareness towards the harsh effects of artificial ingredients and additives on human health and growing shift towards healthy eating habits. Furthermore, innovations observed in plant-based diets, grass-fed meat and a rising consumption of edible flowers are pushing the global organic snacks market to a great extent.

Moreover, rising prevalence of allergies caused by synthetically developed food products, growing demand for pesticide and preservative free snacks is leading to the emergence and penetration of organic snacks into the food industry. Growing disposable incomes coupled with higher standards of living is prompting consumers to adopt healthier eating habits, irrespective of higher costs of organic snacks.

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Key Players

The Global Organic Snacks Market is being steered in a positive direction by many noteworthy market vendors. Some of these prominent key players are profiled in the MRFR report including Conagra Brands, Inc. (US), General Mills, Inc. (US), Hain Celestial (US), Hormel Foods Corporation (US), SunOpta (Canada), YummyEarth, Inc. (US), Utz Quality Food, LLC (US), Eat Real (UK), Creative Snacks Co. (US), and NurturMe (US).

Industry Update

May 2019: Liberty Trade recently launched Crunch Instinct, a latest line of food products that are vegan and healthy alternatives to the snacks generally available in the U.S. market. These vegetable chips were developed with the goal to promote soil health, minimize overall water use and lower total pollution levels on vegetable farms. The contain no artificial fragrances, preservatives or taste intensifiers. They are also gluten free and palm oil free.

Market Segmentation

The global organic snacks market is studied for various segments in the report published by Market Research Future (MRFR). Such segmentation is carried out on the basis of product type, packaging type, distribution channel, and region. The global organic snacks market is segmented into cookies & crackers, puffs & chips, dried fruits, meat snacks, and energy bars on the basis of product type.

On the basis of packaging type, the global organic snacks market is segmented into pouches and cartons. On the basis of distribution channel, the global organic snacks market is segmented into store-based and non-store based. The store-based segment is further sub-segmented into supermarkets, convenience stores, and hypermarkets.

Detailed Regional Analysis

The Global Organic Snacks Market is geographically segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is anticipated to dominate the global organic snacks market during the forecast period. Such regional market ascension can be attributed to the growing awareness towards healthy lifestyle habits among majority of the population. According to the Organization for Economic Co-operation and Development (OECD), the adult obesity rates in the US and Mexico were the highest in the world in 2017. Such high obesity rates can be attributed to the high consumption of carbohydrate rich and fat rich snacks. Such obesity is fueling the rising awareness towards healthier eating habits, hence, rising the demand for organic snacks. Growing trends of low-calorie snacks and snacks with natural additives are estimated to boost the market growth for organic snacks in North America.

Asia Pacific is anticipated to record the highest CAGR for organic snacks during the forecast period. Such high upsurge in the regional organic snacks market is attributable to a change in the eating preferences and a growing awareness towards healthier food alternatives. China, India, and Japan are estimated to lead the country-specific organic snacks market in Asia Pacific. Fast growing population, economic growth and the introduction of regional flavors by snacks manufacturers to meet with the taste demands of the consumers are some of the factors driving the heavy shift seen towards the organic snack industry.