Vegan Snacks Market Size, Share, Growth Analysis, By Type(Chips, and Bars), By Flavor(Sweet, and Spicy), By Region - Industry Forecast 2024-2031

Global Vegan Snacks Market size was valued at USD 45.4 billion in 2022 and is poised to grow from USD 48.17 billion in 2023 to USD 77.36 billion by 2031, growing at a CAGR of 6.10% in the forecast period (2024-2031).

The global vegan snacks market is experiencing remarkable growth due to the increasing demand for vegan products and rising veganism worldwide, which offer significant health benefits. The inclusion of vegan snacks in daily diets improves gut health, strengthens the immune system, and reduces inflammation. Consumers are increasingly adopting vegan food in their snack routine, which is contributing to the growth of the market. However, the availability of substitutes for vegan snacks may hinder the market growth during the forecast period. The market is also positively impacted by the growing trend of snacking habits, as approximately 40% of the U.S. population has reported an increase in plant-based snack consumption. The increasing vegan population across the globe, particularly in major countries such as the U.S., the U.K., Australia, Canada, and India, is another significant factor contributing to the growth of the industry. According to surveys conducted by various organizations, the vegan population has significantly increased in these countries. Furthermore, the growing trend of veganism among celebrities and athletes is expected to provide ample growth opportunities for the market. The rise in health concerns has also led to the adoption of vegan food products, including vegan snacks. The harmful effects of animal-based food products on human health encourage people to choose vegan snacks over animal-based products. For instance, research indicates that the intake of red meat increases the risk of mortality due to stroke, diabetes, and heart disease. Additionally, animal-based foods support unhealthy gut bacteria, which can lead to various diseases. Therefore, the vegan industry is expected to experience continuous growth due to the increasing demand for healthy and sustainable food products.

US Vegan Snacks Market is poised to grow at a sustainable CAGR for the next forecast year.