ID: MRFR/F-B & N/8533-HCR | February 2021 | Region: Global | 90 pages
Global Vegan Spreads & Dips Market size is projected to reach approximately USD 3.68 Billion by 2026, at an 8.3% CAGR from 2020 to 2026. Plant-based sources are used to prepare vegan spreads & dips, which mainly include vegetables, coconut, almond, soy, cashew, and blends. There are various types of vegan spreads & dips, which include hummus, ranch, salsa, guacamole, nut butters, jams & marmalade, and others. The increasing adoption of vegan and vegetarian diets among the consumers is driving the growth of the global vegan spreads & dips market. Additionally, the growing concern regarding animal welfare, human health, and the environment has led to a rising trend of veganism, which has now become mainstream. The growth in the demand for plant-based foods is also creating an opportunistic market for the players in the vegan spreads & dips market. The global plant-based foods market is estimated to reach USD 34 billion by 2026 and is expected to register a 10.2% CAGR during the forecast period. Increasing product launches by key players are driving the growth of the vegan spreads & dips market. For instance, in April 2019, Kite Hill introduced new flavors of dips, which include French onion and ranch.
Global Vegan Spreads & Dips Market has witnessed high growth in recent years. Increasing adoption of vegan products is expected to drive the growth of the global vegan spreads & dips market. The adoption of vegan and vegetarian diets is rapidly increasing among the global population. The increasing number of health issues due to unhealthy lifestyles is contributing to the adoption of vegan and vegetarian diets. Furthermore, the prevalence of social media and the influence of vegan celebrities in recent years has played a major role in influencing people and proved as the main driving force behind the vegan movement. Therefore, the increase in the adoption of vegetarian and vegan diets is expected to drive the growth of the global vegan spreads & dips market. With the increasing demand for vegan for organic products, consumers are preferring organic spreads & dips, which is creating an opportunistic market for the manufacturers of vegan spreads & dips to include organic ingredients in their products and to increase their sales.
Rising awareness of organic plant-based foods such as vegan spreads & dips among the consumers is driving the growth of the global market.
By Product Type
By Distribution Channel
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Flavor and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kite Hill (US), WayFare Health Foods (US), Good Foods Group, LLC (US), Galaxy Nutritional Foods, Inc. (US), Sabra Dipping Company, LLC (US), Frito-Lay North America Inc (US), The Honest Stand (US), Good Karma Foods (US), Strauss Group (Israel), Wingreen Farms (India)|
|Key Market Opportunities||increasing number of health issues due to unhealthy lifestyles is contributing to the adoption of vegan and vegetarian diets.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global Vegan Spreads and Dips Market is expected to record a substantial market valuation of USD 3.68 Billion by 2026.
Global Vegan Spreads and Dips Market is projected to register a moderate 8.3% CAGR in the forecast period.
The hummus segment is expected to observe substantial demand over the review period.
The garlic segment is slated to expand as the fastest-growing segment.
A few emminent market players operating in the global vegan spreads and dips market are Kite Hill (US), WayFare Health Foods (US), Good Foods Group, LLC (US), among others.