Major players in the organic snack food manufacturing market are Sprout, My Super Foods, Clif Bar & Company, Annies Homegrown Inc, NurturMe, Navitas Organics, Yummy Earth, Inc., Utz Quality Food, LLC, Eat Real, and Creative Snacks Co.
The Global Organic Snack Food Manufacturing Market is expected to grow from USD 10.59 billion in 2019 and to USD 10.92 billion in 2020 at a growth rate of 3.16%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach USD 16.03 billion in 2023 at CAGR of 13.63%.
The organic snack food
manufacturing market consists of sales of non-GMO nutritional food items and
related services. Organic snack foods are manufactured using organically
certified ingredients that do not contain genetically modified organisms (GMOs)
and artificial additives. Organic snack food contains healthy nutrients and
ingredients such as minerals, proteins, and vitamins. For example, nutritious
and gluten-free items which include tortilla chips, corn chips, potato chips,
chocolates, raisins, bagel, pretzels, cookies, and pancakes, made from organic
ingredients are termed as organic snack food.
The organic snack food
manufacturing market covered in this report is segmented by product type into
fruit snacks & dried fruit snacks; puffs & chips; energy bar; meat
snacks; others and by sales channel into hypermarkets and supermarkets; online retailers;
food and drink specialists stores; convenience stores.
Many food manufacturers are making
new and healthy snack launches by reducing the use of artificial colors and
increasingly using natural ingredients in order to meet the consumer requirements
for healthier and natural ingredients. For instance, more than 11 food
companies including Chipotle, Kraft, Taco Bell, Pizza Hut, Subway, and others
removed the usage of artificial colors and flavors in 2018. Moreover,
government bans on artificial flavors are a major opportunity for organic snack
food manufacturers for future expansion. According to the U.S. Food & Drug
Administration, the FDA removed six of the ingredients from FDA's approved
list, which included ethyl acrylate, benzophenone, myrcene, pulegone, eugenyl
methyl ether, and pyridine. This scenario is predicted to boost the demand for
the organic snack food market during the forecast period (2019 to 2023).
North America was the largest
region in the organic snack food manufacturing market in 2019. Asia Pacific is
expected to be the fastest growing region in the organic snack food
manufacturing market in the forecast period.
The high cost of production is
anticipated to hinder the growth of the organic snack food manufacturing
market. The organic certification, cost of fertilizer for organic crops, and
post-harvest handling costs are comparatively higher than that of conventional
snack items, which in turn increases the price of organic snack food. This
scenario is likely to hinder the demand for organic snack food in the
forthcoming years.
The growth in spending capacity of
the end users coupled with the growing health consciousness and rising
consumption of organic foods by the populace owing to harmful side effects of
conventional snacks including increasing calorie content, increasing obesity,
and less nutritional benefits is driving the market. Moreover, the increasing
spending capacity of people, especially in developing countries including India
and China is contributing to higher demand for organic snack food manufacturing
over the forecast period. According to Trade Economics, consumer spending in
China increased to USD 50,625.3 in 2018 from USD 48,822.3 in 2017. Therefore,
increasing consumer spending is predicted to generate higher demand for organic
snack food in the coming years.
For More Information, Click on the Link Below:-
Global
Organic Snack Food Manufacturing Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
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