Vegetable Snack Market Forecasts to 2030 – Global Analysis By Type (Dried Veggies, Biscuits and Cookies, Chips and Crisps, Nuts and Seeds and Other Types), Packaging Type, Flavor, Distribution Channel, End User and By Geography

Vegetable Snack Market Forecasts to 2030 – Global Analysis By Type (Dried Veggies, Biscuits and Cookies, Chips and Crisps, Nuts and Seeds and Other Types), Packaging Type, Flavor, Distribution Channel, End User and By Geography

According to Stratistics MRC, the Global Vegetable Snack Market is accounted for $4.9 billion in 2024 and is expected to reach $7.9 billion by 2030 growing at a CAGR of 8.1% during the forecast period. A vegetable snack refers to a small, usually bite-sized portion of vegetables that is consumed between meals as a light and healthy snack option. These snacks are often prepared by cutting vegetables like carrots, cucumbers, bell peppers, or celery into sticks or slices. Sometimes, they are accompanied by dips such as hummus or yogurt-based sauces to enhance flavor. Vegetable snacks are popular for their nutritional value, providing essential vitamins, minerals, and fiber while being low in calories and fat.

According to the Plant-based Foods Association and the Good Food Institute, the overall retail sales of plant-based foods in the United States were about 7.4 billion which was around a 6.2% increase as compared to the previous year.

Market Dynamics:

Driver:

Growing demand for vegan and functional foods

The market is witnessing a surge in demand for vegan and functional foods. Consumers are increasingly gravitating towards plant-based options, driven by health and sustainability concerns. This trend is reshaping product offerings, with companies focusing on innovative, nutrient-rich snacks that cater to diverse dietary preferences. The demand for snacks that offer functional benefits like added vitamins, minerals, and antioxidants is also on the rise, reflecting a shift towards healthier snacking choices among consumers.

Restraint:

Limited shelf life

Unlike processed snacks, vegetables have a shorter span before spoiling, leading to higher inventory management costs and potential waste. This necessitates efficient distribution channels and storage facilities to maintain freshness. Moreover, consumer preferences for convenience and longer shelf life pose hurdles for vegetable snacks. Thus, the market faces significant challenges due to limited shelf life.

Opportunity:

Shifting lifestyle trends

Consumers are increasingly gravitating towards healthier options, driving demand for vegetable-based snacks. This shift is propelled by a growing awareness of health benefits and a desire for convenient, on-the-go snacks. Additionally, there's a rising preference for plant-based diets and sustainability, influencing choices in snack consumption. As a result, innovative vegetable snack options with unique flavors and textures are gaining popularity among health-conscious consumers.

Threat:

Lower product awareness

Despite the growing trend towards healthier snacking options, many consumers remain unaware of the diverse and nutritious offerings available in this segment. This lack of awareness poses a barrier to market penetration and hampers the potential for increased consumption of vegetable-based snacks. Moreover, the niche nature of vegetable snacks makes it harder to penetrate mainstream consumer consciousness.

Covid-19 Impact:

The COVID-19 pandemic profoundly impacted the Vegetable Snack market, triggering notable shifts in consumer behavior. With health-conscious trends on the rise, demand surged for nutritious, plant-based snacks. However, supply chain disruptions and economic uncertainties challenged market stability, leading to fluctuating prices and distribution challenges. Despite these hurdles, innovative product offerings, such as freeze-dried and dehydrated vegetable snacks, gained traction.

The chips and crisps segment is expected to be the largest during the forecast period

The chips and crisps segment is expected to be the largest during the forecast period. These products are made from a variety of vegetables like potatoes, kale, and sweet potatoes, providing a healthier option compared to traditional fried snacks. With their diverse flavors and textures, chips and crisps continue to captivate consumers seeking delicious yet nutritious snacking experiences in today's health-conscious era.

The pouches segment is expected to have the highest CAGR during the forecast period

The pouches segment is expected to have the highest CAGR during the forecast period. These innovative packages preserve the crunch and flavor of veggies, making them ideal for on-the-go consumption. Pouches also cater to health-conscious consumers, providing a convenient way to incorporate more vegetables into their diets. With a wide range of options from mixed veggie blends to single-ingredient snacks, pouches have become a staple in the healthy snack aisle, appealing to busy individuals and families alike.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by increasing health consciousness and demand for convenient, nutritious snacks. Consumers are opting for vegetable-based snacks like kale chips, carrot sticks, and snap peas due to their low calorie and high fiber content. This trend is further fueled by a shift towards plant-based diets and a preference for natural, organic products. Market players are innovating with new flavors and packaging to cater to this growing segment.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. There's a growing awareness among consumers about the importance of healthy eating, leading to an increased demand for snacks that are perceived as nutritious and natural. As disposable incomes rise in many countries across the region, consumers are willing to spend more on premium and healthier snack options, including vegetable snacks. The expansion of retail channels, including supermarkets, hypermarkets, convenience stores, and online platforms, has made vegetable snacks more accessible to a broader consumer base.

Key players in the market

Some of the key players in Vegetable Snack market include Siren Snacks, General Mills Inc., Maple Leaf Foods Inc, Haldiram's, Oumph , Kellogg Company, Eat Natural, Marlow Foods, Peeled Snacks, Hippie Snacks, Green Park Brands, Terra Chips, Upton’s Natural, Sensible Portions, Pop & Bottle, The Real Coconut and Blue Bottle Coffee.

Key Developments:

In February 2024, Haldiram's and Times Prime announced the expansion of their strategic partnership, building upon the success of the 'Azaadi ka Tyohaar' campaign. This landmark collaboration is not just a continuation but a commitment to ensuring a sustained source of joy and exclusive benefits for Times Prime members.

In May 2023, Blue Bottle Coffee and The Weekend collaborated to unveil Samra Origins Coffee, an Ethiopian variety boasting a medium-to-dark roasted aroma. Utilizing advanced freeze-drying technology, this offering promises a unique coffee experience.

Types Covered:
• Dried Veggies
• Biscuits and Cookies
• Chips and Crisps
• Nuts and Seeds
• Other Types

Packaging Types Covered:
• Cans
• Jars
• Pouches
• Other Packaging Types

Flavors Covered:
• Classic
• Exotic
• Sweet and Savory

Distribution Channels Covered:
• Supermarket and Hypermarket
• Convenience Store
• Non-Store-Based
• Store-Based
• Retail Stores
• Online Retail

End Users Covered:
• Health-Conscious Consumers
• Fitness Enthusiasts
• Vegetarians
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements