According to a new report, the vegan snack market is expected to grow with a CAGR of 6% through to 2030, as consumers increasingly recognise the health benefits of consuming fewer animal products.

Plant-based foods are said to improve gut health, reduce inflammation, and support the immune system. Some studies also indicate that unprocessed plant foods can protect against cardiovascular disease and certain cancers.

These benefits are helping to drive the growth of the vegan snack market. This was amplified during the pandemic, as consumers became more concerned about their health.

Opportunities for growth

Meanwhile, a rising number of new product launches in the sector is providing further opportunities for growth. Manufacturers are becoming more focused on producing snacks in a way that preserves their nutritional value, while consumers increasingly perceive healthy snacks as a convenient way to meet their nutritional requirements.

Minimally-processed vegan snacks include SHORE’s seaweed chips, Kallø’s savoury veggie cakes made from pulses, and PeaTos’ pea-based snacks.

The development of vegan snacks with meaty or cheesy flavours is also believed to have significantly boosted the market. Examples are plant-based jerky, mozzarella sticks, and vegan prawn crackers.

The new market report supports the conclusions of previous research in 2018, which predicted that the vegan snack market would surge in value to be worth $73 billion by 2028. The older report also cites health concerns as a leading driver, adding that particularly significant growth is expected in developing countries.