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Organic Snack Food Market Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033
Organic Snack Food Market Analysis
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the organic snack food industry. This report on organic snack food market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The organic snack food market size has grown strongly in recent years. It will grow from $10.68 billion in 2023 to $11.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing health consciousness, preference for organic products, retail expansion, dietary trends.
The organic snack food market size is expected to see strong growth in the next few years. It will grow to $14.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to sustainability concerns, e-commerce growth, regulatory support, expanding distribution channels. Major trends in the forecast period include product innovation, increased investment, clean labeling, plant-based and vegan options, functional ingredients, convenience and on-the-go snacking, innovative packaging.
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Key Market Players:
Hormel Foods Corporation, General Mills Inc., SunOpta Inc., Dean Foods Co, Organic Food Bar Inc., Simply Naturals, Braga Organic Farms Inc. are prominent players in the organic snack food industry.
Market Drivers:
According to the Organic Snack Food Market Report 2024 by The Business Research Company, The growth in spending capacity of the end users, coupled with the growing health consciousness and rising consumption of organic foods by the populace owing to harmful side effects of conventional snacks, including increasing calorie content, increasing obesity, and fewer nutritional benefits, is driving the market. Moreover, the increasing spending capacity of people, especially in developing countries like India and China, is contributing to higher demand for organic snack food manufacturing over the forecast period. For instance, in March 2023, according to China Power, a China-based power related company, China's government budget for 2023 includes a 5.6% increase in expenditure, leaving the country with an official projected deficit of nearly RMB 3.9 trillion ($564.1 billion), up 15.1% from 2022. . Therefore, increasing consumer spending is predicted to generate higher demand for growth of organic snack food market in the forecast period.
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Market segments for organic snack food include:
1) By Product Type: Fruit Snacks & Dried Fruit Snacks, Puffs & Chips, Energy Bar, Meat Snacks, Other Product Types
2) By Sales Channel: Hypermarkets and Supermarkets, Online Retailers, Food and Drink Specialists Stores, Convenience Stores
3) By Age Group: Millennial, Generation X, Baby Boomers
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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