global organic snack market was worth USD 8.75 billionin 2020, and it is further projected - PDF document

G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 Global Organic Snack Market Overview S ummary A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global organic snack market was worth USD 8.75 billionin the year 2020. It is forecast to grow at the CAGR of 11.8% during 2021 - 2027 (forecast period), earning revenue of around USD USD 18.3 billionby the end of 2027.Organic snacks are healthy foods made from organic ingredients without the use of harmful artificial additives.In recent years, consumer awareness about health and nutrition has led to a greater demand for organic snacks and foods.Additionally, the growth of the organic snack market is driven by an increase in disposable income, increasing consumer spending, the desire for environmentally friendly products, and the trend of buying and exploring new products.However, due to expensive fertilizers, organic certification, and after - harvest handling costs, the high cost of production is a significant restraint for the global organic snack market . Report Overview Organic snacks are food products that are produced organically using organic ingredients which are certified and free of artificial additi ves and genetically modified organisms (GMOs). A healthy food source, organic snacks contain vitamins, minerals, and protein . The global organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 2027, at a CAGR of 11.8% during 2021 - 2027 (forecast period). The organic snack market is growing globallyat a positive rate owing to factors such as the rise in the number of retail chains& View report Press release Sample report G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 supermarkets and a surge in consumers' spending capacity. Moreover, rising disposable incomes, new dietary habits, and demand for healthy readymade foods are other key drivers for this market's growth.Additionally, the increase in the willin gness of customers in developing nations to purchase environment - friendly products is enabling the global organic snack market to accelerate in the coming years . Global Organic Snack Market Overvie w Organic snacks are food prod ucts that are produced organically using organic ingredients which are certified and free of artificial additives and genetically modified organisms (GMOs). A healthy food source, organic snacks contain vitamins, minerals, and protein. Increasing awareness of health issues among consumers and their desire for organic, natural foods over the past couple of years has driven the global organic snack market dynamically.Growing expenditure on organic farming in the U.S., Canada, Australia, and India is also one of the factors driving this market. Other factors contributing to its growth include developed retail landscapes, an ever - increasing demand for convenience foods, a rise in consumers' purchasing power, and millennials' willingness to try new products.Never theless, the high cost of production remains a roadblock for this market as it reduces the sales of organic snacks . Global Organic Snack Market Trends Growth Driver s Consumer Awareness Regarding Consumption of Organic Food s Recent changes in consumer behavior indicate the trend towards healthier choices.The result is that they have switched to organic foods in order to avoid damaging side effects of conventional foods.Organic snack foods are being preferred over the latter as they lead to increased obesity, increased calorie intake, and less nutrition uptake. According toOrganic Industry Survey by the Organic Trade Association, in 2019, the sales of the organic food segment haveoutpaced the total food sales in the U.S. The ass ociation further informed that this buying trend was more evident among millennials. Additionally, the demand for environmentally - friendly products without synthetic additives is also attracting buyers to the organic snack market.Furthermore, the expenditu re on organic farming has increased as well . Global growth in organic snack sales is expected to be driven by new regulations regarding organic flavors . Increased Consumer Spending Toward Food Product s The growing number of households with disposable income , the increase in purchasing power, strong impulse buying, and others are some of the factors that drive sales of organic snacks.For instance, as per the Ministry of Statistics and Programme Implementation data, consumer spending towards food, non - alcoholi c drinks, and household items in India increased from USD 198.72billion in the G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 second quarter to USD 244.30 Billion in the third quarter of 2020.With more purchasing power, consumers are willing to pay higher prices for healthier alternatives to organic pr oducts.Therefore, the organic snack food market is expected to grow in demand as consumer spending grows . Restraint s High Cost of Productio n Compared to conventional farming, organic agriculture is more expensive due to the high cost of fertilizers, post - harvest handling costs, machinery, and organic certification.Because organic products have a relatively small volume, the marketing and distribution processes for them are also relatively inefficient.The result is a higher price margin for organic snack f oods, and consumers are forced to pay a higher price for organic snacks compared to their unhealthy, conventional alternatives.Price concerns are thus hindering the growth of organic snack food . Impact of COVID - 1 9 Global organic snack sales were somewhat affected by the COVID - 19 pandemic, although the effect was relatively mild.The majority of organic food ingredients consumed by developed regions like North America and Europe come from Asia, Latin America, and Africa. This pandemic - induced lockdown impac ted the availability of organic food in stores and supermarkets because the restriction on transportation has curtailed the movement of goods . Nevertheless, health and nutrition awareness has been raised among consumers due to the outbreak of the pandemic. The sales of organic products haveincreased globallyduring the pandemic period.As reported by the Organic Trade Association in its 2020 Organic Industry Survey, organic food sales in the U.S. reached USD 55.1 billion in 2020.Organic snack options provide c onsumers with immense health benefits and a composition free of additives because they focus on disease prevention and immunity improvement. This demand has boosted the growth of this market amid the pandemic . Global Organic Snack Market: By Produc t Base d on product types, the global organic snack market is segmented intocandy bars, nutrition bars, salty snacks, nuts, meat snacks, and others. Among these, the snack bars/nutrition bars segment held the largest share in the market. There has been an increas e in demand for these snack bars due to awareness of health and nutrition. Over the years, various ingredients have been added to these snack bars, such as granola, muesli, cereals, fruits, and others.A snack bar and nutrition bar are very popular because they are convenient to consume and replace heavy meals in the busy lives of the working class . Global Organic Snack Market: By Distribution In terms of distribution channels, the global organic snack market is segmented into department stores, su permarkets/hypermarkets, convenience stores, e - G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 commerce, and others, with supermarkets holding the largest share in 2020.A supermarket provides a wide variety of products and the possibility of comparing and checking them before purchase.The impulsive buyi ng of snacks at the checkout counter also boosts sales through the retail channel. Meanwhile, the e - commerce sector is supposed to grow during the forecast period as consumers nowadays prefer purchasing snacks online owing to social distancing norms. Thus, the increased use of smartphones and the availability of low - cost internet would boost online retailing in the global organic snack market . Global Organic Snack Market: Regional Insight s The global organic snack market is cat egorized into North America, Europe, the Asia - Pacific, Latin America,Middle - East &Africa. Among these regions, the North American region holds the largest share in the market. According to the Organization for Economic Co - operation and Development (OECD), adult obesity rates are highest in the U.S. (38.2%) and Mexico (32.4%). This has led to buying trend of low - calorie and natural additives snack food. As a result of these factors and increasing consumer demand for healthy on - the - go snacks, the organic snac k market has grown in this region . Additionally,the Asia - Pacific region is expected to grow at the fastest rate during the forecast period. Several factors have contributed to the growth of the organic snack market in this region, including the increase in budgets for organic farming and increased consumption of organic food.Among other factors, the rise in organic food manufacturers, as well as a rise in household food spending,is also bolstering consumer demand for organic foods.Furthermore, the increase in retail infrastructure has improved the accessibility of these products besides driving the demand for organic snack foods . Competitive Landscap e The global organic snack market is fragmentedin nature with the participation of both international and regional players. The key players in the market include PRANA, Pure Organic, Kadac Pty Ltd, Made in Nature, Hormel Foods, Navitas Naturals, Conagra Bran ds, Hain Celestial, Woodstock Farms Manufacturing,Simply Naturals LLC, Yummy Earth Inc., Annies Homegrown Inc., General Mills, Frito - Lay Inc., Danone, and other prominent players. These players are constantly utilizing product innovations to increase their market share and remain competitive in the market. For instance, Horizon Organic, a Danone company, offers products that can be easily opened with easy peel - open packaging. Recent Development s  In May 2021, Nature Bio Foods announced the inauguration of it s futuristic organic food processing plant at Maasvlakte near Rotterdam, Netherlands. This new integrated organic ingredient processing facility aimsto provide products to the customer through a sustainable supply chain . G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7  In December 2020, LT Foods decided to scale up its organic food brand ‘Ecolife’ to leverage the rapidly growing health trends in the pandemic. The company is focusing its production on the rapidly growing organic market. This new launch would increase its current franchise of manufacturers.  In March 2020, Mahindra Agri Solution invested in Mera Kisan, an organic food manufacturing start - up.This initiative wouldensure delivering organic fruits and vegetables of the highest quality directly to consumers' d oorstep. In addition, the farmers would benefit from this as payment would be made upfront through an online payment platform . Scope of the Repor t Attribut e Detail s Years Considere d Historical data – 2017 - 202 0 Base Year – 202 0 Forecast – 2021 – 202 7 Facts Covere d Revenue in USD Millio n Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, Australia, UAE, South Africa, Saudi Arabia, Turke y Product/Service Segmentatio n By Product T ype, By Distribution Channel, By Generation, and By Regio n Key Player s Key Players for the market are - PRANA, Pure Organic, Kadac Pty Ltd, Made in Nature, Hormel Foods, Navitas Naturals, Conagra Brands, Hain Celestial, Woodstock Farms Manufacturing, Simpl y Naturals LLC, Yummy Earth Inc., Annies Homegrown Inc., General Mill s , Frito - Lay Inc., G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 Danone, and other prominent player s By Product Typ e  Candy Bar s  Nutrition Bar s  Salty snack s  Nut s  Meat Snack s  Other s By Distribution Channe l  Departmental store s  Supermarket/hypermarke t  Convenience store s  E - commerc e  Other s By Generatio n  Millennial s  Generation X  Baby Boomer s  Other s By Regio n  North Americ a  Europ e  The Asia - Pacifi c  Latin Americ a  The Middle - East & Afric a G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 FAQs : 1. What is the current size of the globa l organic snack marke t ? Answer: The global organic snack market reached USD 8.75 billionin 2020 . 2. What are the major factors driving the growth of the globa l organic snack marke t ? Answer: Rising health consciousness, desire for a non - synthetic food products, i ncreased consumer spending, change in dietary lifestyle, the choice for environmentally - friendly products, and buying trends of millennials are key drivers of the market . 3. Who are the key players in the globa l organic snack marke t ? Answer : The key players pr ofiled within the global organic snack market are PRANA, Pure Organic, Kadac Pty Ltd, Made in Nature, Hormel Foods, Navitas Naturals, Conagra Brands, Hain Celestial, Woodstock Farms Manufacturing, Simply Naturals LLC, Yummy Earth Inc., Annies Homegrown Inc ., General Mill s , Frito - Lay Inc., Danone, and other prominent player s 4. Which segment accounted for the largest share in the global organic snack marke t ? Answe r : The snack bar segment accounted for the largest share in the global organic snack market . 5. Which region is growing at a higher rate in the global organic snac k market ? Answer: The Asia - Pacific region is growing at a higher rate in the global organic snack market . G lobal organic snack market was wort h USD 8.75 billionin 2020, and it is further projected to reach USD 18.3 billionby 202 7 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. 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