Portland,OR, April 07, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global organic snacks market accounted for $8.78 billion in 2017, and is expected to garner $24.03 billion by 2025, registering a CAGR of 13.6% from 2018 to 2025.
Increase in awareness regarding health among consumers, rise in demand for convenience food, and development in the retail structure have boosted the growth of the global organic snacks market. However, high cost of production hampers the market growth. On the contrary, rise in willingness of consumers on buying premium and eco-friendly products are expected to create lucrative opportunities in the near future.
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The global organic snacks market is segmented on the basis of product type, distribution channel, generation, and geography. Based on product type, the market is divided into nutrition bars, candy bars, salty snacks, nuts, and others. The candy bars segment is expected to register the highest CAGR of 15.2% during the forecast period. However, salty snacks segment held the largest share in 2017, accounting for nearly two-fifths of the market.
On the basis of distribution channel, the market is retail stores, supermarket/hypermarket, convenience stores, and e-commerce. The e-commerce segment is expected to manifest the highest CAGR of 15.9% during the study period. However, the retail stores segment held the largest share in 2017, accounting for more than one-third of the market.
Based on generation, the market is divided into millennial (18 - 34), generation x (34 - 50), and baby boomers (51 - 69). The millennial (18–34) segment is expected to dominate the market. However, the baby boomers (51–69) segment is expected to portray the highest CAGR of 15.3% during the forecast period.
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The global organic snacks market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to manifest the highest CAGR of 16.3% during the forecast period. However, the market across North America held the largest share in 2017, accounting for more than three-fifths of the total revenue.
The global organic snacks market report includes an in-depth analysis of the major market players such as PRANA, Pure Organic, Kadac Pty Ltd, Made in Nature, Hormel Foods, Navitas Naturals, Conagra Brands, Hain Celestial, Woodstock Farms Manufacturing, and General Mills.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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