1 minute read
IndustryTrends
As of 2019, the market is valued at $4.92 billion. There is an expected 9.2% annual growth rate in the market between 2020 and 2027.
A significant driver of the market has been health-conscious millennials desiring and seeking out better-for-your-health foods and products.
Advertisement
Consumers are looking for...
Fruits and vegetables based snacks that don't compromise taste or textures
Higher quality, convenient food that can satisfy hunger while fulfilling their nutritional needs
The largest consumer percentage of the market falls to parents with children with 28.2%. As of 2022, around 1 in 5 of mother's in the US are millennials. And in the coming 10 to 15 years, 80% of Millennials will be parents, meaning the second largest consumer percentage of the market (millennials) is paramount to keep in mind.
