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Bettering Retail Infrastructure, Growing OTT Users, and Rising GDP per Capita Income of Developing Nations are Expected to Boost Organic Snacks Market Growth
HYDERABAD, TELANGANA, INDIA, October 14, 2022 /
EINPresswire.com/ -- IndustryARC, in its latest report, predicts that
Organic Snacks Market size is estimated to reach $34.4 billion by 2027, growing at a CAGR of 12.7% during the forecast period 2022-2027. Snacks can be delineated as a small serving of food that doesn’t necessitate tedious preparation and is normally consumed in between meals. However, the word organic simply denotes that the snacks are prepared from ingredients that are deprived of GMOs and various chemicals or artificial additives. Almond Buckwheat cookies, quinoa apple granola bars, goji berry cookies, nutrition bars, and candy bars are the most prominent examples of snacks available in the market. Organic snacks are prepared from a variety of inputs such as fruit, vegetables, grains, nuts, meat, and others. These snacks are a sound source of vitamins and protein. Because organic snacks are prepared from organically grown crops that are home to omega-3 fatty acids, antioxidants, and minerals, they pose a low to moderate amount of health problems as compared to conventional snacks. Rapid urbanization, changing tastes and preferences of people, rising health awareness, soaring living standards of people in low-income countries as GDP per capita is on the rise, the growing popularity of OTT platforms like Netflix, and eventful lifestyles of people are factors set to drive the growth of the Organic Snacks Market for the period 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Click here to browse the complete report summary:
https://www.industryarc.com/Research/Organic-Snacks-Market-Research-507303
Key takeaways:
1. Geographically, the North America Organic Snacks Market accounted for the highest revenue share in 2021. The growth is owing to heavy consumption of RTE and convenient foods, overwhelming obesity rates, strong purchasing power, well-established retail infrastructure, and high health attentiveness among consumers.
2. Enlarging demand for RTE foods because of the busy lifestyles of consumers, growing inclination of viewers toward over-the-top media services, swell in obesity cases, growing incidences of stress post-covid-19, and rising disposable incomes of consumers in developing countries are said to be preeminent driver driving the growth of Organic Snacks Market. Expensive nature because of high production cost, rising inflation levels, and strangled production are the factors said to reduce the market growth.
3. Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Organic Snacks Market report.
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Segmental Analysis:
1. Nutrition and Candy Bars are estimated to be the fastest-growing segment with a CAGR of 13.4% over the forecast period 2022-2027. This growth is owing to its aesthetically appealing nature, growing health consciousness among consumers, and growing trend of replacement of heavy meals with compacted bars that are full of nutrition.
2. The Organic Snacks Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 39% of the overall market in 2021.
3. Online Segment is estimated to be the fastest-growing segment with a CAGR of 13.9% over the forecast period 2022-2027. This growth is owing to enlarging internet penetration in rural areas, prevailing WFH trends, jaw-dropping discount deals, technological revolutions, wide-scale digitalization, and government support through friendly business propositions to lure businesses.
Competitive Landscape:
The top 5 players in the Organic Snacks industry are -
1. Beanitos Inc.
2. Cussons Australia Pty Ltd.
3. Loisvlle Vegan Jerky Co.
4. SunOpta Inc.
5. Utz Quality Food LLC.
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https://www.industryarc.com/Report/9569/south-america-sweet-salty-snacks-market.html
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