LONDON--(BUSINESS WIRE)--The global organic snacks market is expected to post a CAGR of close to 12% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is increasing popularity of organic snacks among young consumers. These snacks are popular among the youth as a healthy and convenient snacking option. High consumption of traditional snacks and packaged food has been associated with instances of diabetes and obesity among consumers. Hence, awareness of the negative effects of packaged food has increased the propensity toward organic snacks. These snacks do not have unhealthy food additives, artificial sweeteners and flavors. They are also free from chemicals and pesticides. Therefore, the demand for organic snacks is expected to increase over the forecast period.
This market research report on the global organic snacks market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing online penetration as one of the key emerging trends in the global organic snacks market:
Global organic snacks market: Increasing online penetration
Traditionally, organic snacks were perceived as niche products available in a few brick and mortar retail stores. High preference for organic snacks has led to an increase in the availability of these products. Thus, with the growing popularity of these products, many manufacturers have started selling their products online to widen their market penetration. As the organic food segment has become lucrative, e-commerce sites are aiming at acquiring organic food business at competitive prices. For instance, in August 2017, Amazon acquired Whole Foods Market, a brand providing organic food. During the forecast period, more organizations are expected to distribute their organic foods including organic snacks on e-commerce platforms. This is because the online platform enables manufacturers of organic snacks to cover a wider customer base. This trend is expected to garner momentum with more snack providers trying to sell their products through e-commerce platforms.
“Increasing organic snacks start-ups, use of advanced technology, and increasing spending capacity are some main factors that are boosting the growth of the global organic snacks market,” says a senior analyst at Technavio for research on food.
Global organic snacks market: Segmentation analysis
This market research report segments the global organic snacks market by product (prepared snacks, bars and nuts, salty snacks, fruit snacks, others) and geographical regions (APAC, EMEA, and the Americas).
The prepared snacks segment led the market in 2017 with a market share of over 34%, followed by bars and nuts, salty snacks, and fruit snacks respectively. However, during the forecast period, the bars and nuts segment is expected to register the highest incremental growth followed by the salty snacks and fruit snacks segment respectively.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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