This article is part of the Vegconomist X ProVeg International New Food Hub article series, which aims to make actionable insights into the plant-based space more readily accessible.
ProVeg International has recently published an infographic on one of this year’s key trends: healthy snacking. Demand for plant-based foods is increasing across all categories – driven mainly by flexitarians and omnivores. Consumers are also becoming more motivated by health and sustainability. This new infographic details how your business can capitalize on this growing trend by providing consumers with delicious yet nutritious plant-based snacks.
A Growing Market
According to Future Market Insights, the plant-based snack market has a projected CAGR of 8.7%, exceeding the projected growth of the general snack market as a whole.
“People have moved beyond the traditional three-meal plan to snacking all day,” says Bryn Garcia, VP of Retail Sales at Select Harvest USA, explaining the growth in the sector.
Businesses are thus seeking to satisfy consumer demand by growing their snack ranges. However, to stay ahead of the game, it is essential to date with the latest market developments and governmental regulations.
Many plant-based snacks are positioning themselves as health products or protein supplements. This appeals to consumers while also reducing the product’s sales-tax rate in many countries. Retailers can, in turn, pass this benefit on to consumers through more attractive pricing, so it’s a mutual win.
As a retailer, you will of course want to stock a mixture of healthy snacks and indulgent treats. Just be sure to establish which of the two any given plant-based snacks is so that you can maximize the price and health benefits for consumers.
If you’re interested in learning more about developing your snack range and how best to promote them in-store, click here to access the full infographic. If you’d like to find out more about the key ways your company can boost your bottom line by appealing to health-conscious and flexitarian consumers, check out ProVeg’s full whitepaper, ‘Plant-based profit: lucrative low-risk product ranges’.