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Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diet are likely to aid market growth of PlantBased Snacks Market

HYDERABAD, TELANGANA, INDIA, February 3, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Plant Based Snacks Market size is forecast to reach $59.4 billion by 2026, growing at a CAGR of 9.4% during the forecast period 2021-2026. Plant based snacks consists of ingredients that are derived from plants including tubers, vegetables, fruits, and cereals. The fiber fraction in plant based snacks is mainly made up of indigestible compounds that includes pectins, cellulose, resistant starch, and hemicellulose. There are different types of plant based snacks such as cereal based snacks, fruits & nut snacks, snack bars, and cookies among others.

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https://www.industryarc.com/Research/Plant-based-Snacks-Market-Research-508056

Key takeaways:

1. North America dominated the Plant Based Snacks Market in 2020 owing to the increasing awareness about health and increasing shift towards the natural food substitutes. The Plant Based Snacks Market scope for different regions will be provided in the final report.

2. Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Plant Based Snacks Market report.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Plant Based Snacks Market report.

4. Lack of awareness regarding the plant based snacks and stringent regulations is poised to create the hurdles for the Plant Based Snacks Market

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Segmental Analysis:

Plant Based Snacks Market Segment Analysis – By Product Type : Plant Based Snacks Bars held the largest share in the Plant Based Snacks Market in 2020 and is estimated to grow at a CAGR 10.7% during the forecast period 2021-2026.

Plant Based Snacks Market Segment Analysis – By Source : Vegetables held the largest share in the Plant Based Snacks Market in 2020 and is estimated to grow at a CAGR 10.0% during the forecast period 2021-2026.

Plant Based Snacks Market Segment Analysis – By Geography : North America dominated the Plant Based Snacks Market with a major share of 36.3% in 2020. This is attributed to the increasing government initiatives to enhance consumer knowledge towards new innovations in the field of plant based snacks, and increasing demand for unique taste.

Competitive Landscape:

The top 5 players in the Plant Based Snacks industry are -

1. General Mills
2. Maple Leaf Foods
3. The Unilever Group
4. Nestle
5. Quorn

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https://www.industryarc.com/Research/Snack-Bars-Market-Research-513819

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