A new report by Data Bridge Market Research has found that the plant-based snacks market is worth over $40 billion, but will roughly double within seven years.
The report analyses that the plant based snacks market was valued at $40.96 billion in 2021 and is expected to reach $79.60 billion by 2029, registering a compound annual growth rate of 8.66 % during the forecast period of 2022 to 2029.
The key drivers of this growth, according to Data Bridge, include an “increasing shift of the consumers towards the veganism”, as well as” increasing health consciousness among consumers”.
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The ban applies to both Victoria’s Secret locations as well as their PINK stores and PINK-branded products, and it covers all of their worldwide locations in over 60 countries.