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Vegan Baked Snack Bars Market

Vegan Baked Snack Bars Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Vegan Baked Snack Bars Market Forecast and CAGR

According to latest research by Transparency Market Research, vegan baked snack bars market is set to witness steady growth during 2021-2031. Demand for vegan baked snack bars will witness steady growth in short-term, with optimistic growth outlook in the long-run. The sales are set to increase due to increasing trend of veganism in major marketplaces.

What is Driving Demand for Vegan Baked Snacks Bars?

The first and foremost factor for the increased demand for such products is the increased utilization of purely plant-based dietary in the mainstream. This trend called veganism is one of the potent factors that major players in the food & beverage industry are inclining their products towards purely plant-derived.

There is an increase in the availability of vegan products in markets today owing to the increasing vegan population. Moreover, the fact that a product with a special attribute is worth more than the others has made many players come up with such products as it is a lucrative business opportunity.

The health benefits of such products include the nutritional content which is more in vegan products, it helps in losing excess weight, lowers bold sugar levels, improves kidney function, cancer prevention, lowers the risk of cardiovascular diseases, and others. These attributes have attracted consumers in the major marketplaces and are getting wide acceptability as awareness among consumers is increasing.

Moreover, baked snacks are among the most popular edibles among modern consumers. Consumers today are looking for better alternatives to their conventional foods and a product such as vegan baked snacks is an idealistic choice.

Increasing Vegan Population Ascertaining Market Growth

According to The Vegan Society, in 2021 over 53,000 products from more than 2,500 companies are registered globally including 22,000 cosmetics & toiletries and 18,000 food & drink items. This is evident from the fact that the vegan population is increasing at a rate never seen before.

As a result, major food & beverages producing companies are getting their products in line with the increased utilization trend for purely plant-based edibles. Apart from this, the increased concerns about lowering the carbon footprint are also aiding in the market development for such products as animal agriculture is responsible for more than 18% of all greenhouse emissions.

Europe Vegan Baked Snack Bars Market Outlook

Europe apart from being the top market for edibles is also emerging out as the top market for vegan products. The vegan population has doubled within four years in Europe. It also constitutes the top 5 cities that have the greatest number of vegan populations. Such factors are providing an optimistic growth outlook for a product like vegan baked snack bars.

As more consumption of vegan products in this geography occurs more players are emerging or penetrating the marketplace with suitable products. According to The Vegan Society, overall, the vegan trademark is present in 108 countries around the world, with over 50% of the products registered coming from companies based outside of the U.K.

This is a potent reason for players offering vegan products being attracted to the European marketplace as more growth opportunities are presented by this market. Moreover, as the population of vegans increases the consumption is also anticipated to increase, and hence is the demand for an idealistic product as a vegan baked snack bar.

U.S. Demand for Vegan Baked Snack Bars

The vegan population in the U.S. is increasing and hence is the demand for such products. The bakery industry is also prominent in the country as the consumption of baked products. Consumers are more aware in the country and hence the demand for a product like vegan baked snack bars is anticipated to be more shortly.

The country accounts for the highest output of bread and bakery products globally and baked snacks are also among the most popular in the nation. This is due to the high number of players in the food & beverage industry in this geography. Ore players are producing products that are in line with the emerging trends such as Vegan.

Who are the Key Manufacturers and Suppliers of Vegan Baked Snack Bars?

Some of the leading manufacturers and suppliers of Enjoy Life, Good to Go, Natures Bakerys, LÄRABAR, Yes Bar, Betty Lou's Inc., Dulzura Borincana, 88 Acres, General Mills., Tahoe Trail Bar, Keep Healthy Inc., Ommie Snacks, Fody Foods, Protein Puck, Simply Delicious, Inc., Blake's Seed and others.

The manufacturers are targeting the markets that have a wide acceptability for vegan products and hence are ensuring maximum profitability. This not only ensures market development for the product but also makes products line more competitive.

By Nature

  • Organic
  • Conventional

By Flavor

  • Chocolate
  • Fruits
  • Nuts
  • Others

By Sales Channel

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Others

By Region

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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