About Fig Snacks
Fig Snack bar are the ready-to-go healthy snacks. Fig Snack market has high growth prospects due to various measures such as product expansion, brand extension and introduction of new brands. The food service outlets are also including vegan products on their menu to attract vegan customers. For instance, veggie cheese, vegetarian burger, and vegetarian beverages are some of the food offerings available at such eateries. Further, increasing demand of vegan products and rising health conscious products expected to drive the market over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.73% |
Fig Snacks is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Fig Snacks market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kellogg (United States), Little Duck Organics (United States), Made In Nature (United States), Mondelz International (United States), Nature's Bakery (United States), Pamela’s Products (United States), Newtons (United States) and Nestle (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are FruitLips (South Africa) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Fig Snacks market by Type (Fig Rolls, Fig Bars and Other), Application (Hypermarkets and Supermarkets, Specialty Food Stores, Independent Retailers and Online Retailers) and Region.
On the basis of geography, the market of Fig Snacks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Influencing Trend:
Value Oriented Consumers and Collaboration and Tie Up Of Leading Players
Market Growth Drivers:
Rising Demand of Health Conscious Products. and Change in Consumer Taste Preference Towards Snacks.
Challenges:
Fluctuation of Raw Materials. and Side Effects Associated Within Fig Snacks.
Restraints:
Less Acceptance Due to Sweetness in Products. and Price Sensitivity Hamper the Market.
Opportunities:
Upsurge Demand of Vegan Population. and Continuous Product Innovation and Development.
Market Leaders and their expansionary development strategies
In December 2020, KIND, a healthy snacking leader, acquired Nature's Bakery, a family-owned company that offers wholesome & delicious snacks, such as its beloved Fig Bars and other soft-baked foods. This partnership will extend Mars' portfolio of businesses in the health & wellness space and build on KIND and Mars' shared vision to build out a platform of brands and products that make wholesome snacking choices more readily available to people everywhere.
In September 2018, Fruit Bliss launched a snackable fruit and nut bites, which is beneficial in expansion of snack category and sustainable packaging. It also offers real food ingredients and organic dried fruit, dates & hazelnut.
Key Target Audience
Fig Snacks Manufacturers, Fig Snacks Traders, End-Use Market Participants of Different Segments of Fig Snacks, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.