Vegan Spreads Dips Market Share

Global Vegan Spreads & Dips Market Overview

Vegan Spreads & Dips Market Size was valued at USD 0.12 Billion in 2022. The Vegan Spreads & Dips market industry is projected to grow from USD 0.129 Billion in 2023 to USD 0.24 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2023 - 2032). Changing consumer dietary tastes, an increasing vegan population, and an increase in the prevalence of lactose intolerance are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vegan Spreads & Dips Market Trends

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  Growing need of vegan food is driving the market growth

  
  

The rising number of vegan food eaters drives market CAGR for vegan spreads & dips. The growing prevalence of allergies and intolerance among adults and children drives demand for vegan sauces, dressings, and spreads. Furthermore, vegan sauces and spreads have some limits regarding texture, taste, consistency, and flavor. Traditional spreads contain cheese, heavy cream, eggs, and butter, whereas vegan sauces contain tofu, soy, almond, or cashew milk. These dairy substitutes change the product's taste, flavor, and consistency.

The demand for vegan sauces, dressings, and spreads is growing in response to the increasing prevalence of lactose intolerance. According to data from the "Food Intolerance Network," more than 70% of the population was lactose intolerant in 2021. As allergies and intolerance become increasingly frequent in adults and children, demand for vegan sauces, dressings, and spreads is increasing. It is commonly known that milk, honey, eggs, cattle, pork, and shellfish have larger carbon footprints. Eco-friendly vegan products are growing increasingly popular among consumers. Sauces are widely used to prepare various cuisines, including salad, spaghetti, sandwiches, burgers, etc. Furthermore, the shift in customer preferences towards vegan food items such as sauces and dips benefits market expansion. According to Google Trends, the United Kingdom was the most interested in veganism in 2019, followed by Australia and New Zealand. As a result, these countries provide enormous potential opportunities for the industry. Furthermore, increasing the number of new releases is fueling market growth. Regular or conventional vegan sauces are far less expensive than their vegan counterparts, stifling market expansion. For example, Botticelli Vegan Bolognese Pasta Sauce costs between USD 4.42 and USD 4.42. The increasing frequency of lactose intolerance drives demand for vegan sauces, dressings, and spreads. According to the 'Food Intolerance Network,' around 70% of the population suffered from lactose intolerance in 2019. These dairy substitutes change the products' taste, flavor, and consistency, which deters many consumers. According to Food Allergy Research & Education (FARE) data, 32 million Americans suffered from food allergies in the United States in 2019. According to this study, most food allergies are caused by eggs, fish, and shellfish. With the rising prevalence of food allergies, the range of vegan sauces, dressings, and spreads is projected to broaden in the coming years. Thus, driving the Vegan Spreads & Dips market revenue.

Vegan Spreads & Dips Market Segment Insights

Vegan Spreads & Dips Type Insights

The Vegan Spreads & Dips market segmentation, based on type, includes hummus, ranch, salsa, guacamole, nut butter, jams & marmalade, and others. The hummus segment dominated the market, accounting for 35% of market revenue. Due to the presence of various proteins, fiber, antioxidants, vitamins, and other nutritional ingredients, Hummus's potential health benefits have greatly boosted its demand. The need for healthy snacks is increasing between meals and on the go, with health indulgence playing an important part. Furthermore, the product has gained popularity among the most health-conscious millennials. Furthermore, hummus is frequently consumed for its distinct flavor, simplicity, and status as a plant-based dip choice, capturing consumers' attention and propelling it to the status of fridge staple. Furthermore, consumers' increasingly hectic and fast-paced lifestyles have increased the need for healthful bite-sized snacks, which has benefited its sales performance.

Vegan Spreads & Dips Flavor Insights

Based on flavor, the Vegan Spreads & Dips market segmentation includes garlic, coconut, paprika, french onion, avocado, and others. The avocado segment dominated the market. The increased emphasis on a healthy lifestyle and the expanding number of customers of healthy food products are driving market expansion. Furthermore, expanding nutritional awareness, a growing middle-class population and rising import demand are predicted to drive market expansion. Advanced markets for processed avocados are expected to drive industry expansion as well.

Vegan Spreads & Dips Distribution Channel Insights

Based on distribution channels, the Vegan Spreads & Dips market segmentation includes store-based and non-store-based. The store-based category generated the most income (70.4%). This channel contains a wide range of small manufacturers who sell their goods locally. Customers prefer these when the sauce, dressing, dip, or spread is inspired by regional cuisine. Furthermore, these items are preferred since some manufacturers aim to maintain everything organic and avoid using preservatives.

Figure 1: Vegan Spreads & Dips Market, by Distribution channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vegan Spreads & Dips Regional Insights

The study divides the market into four regions: North America, Europe, Asia-Pacific, and the Rest of the World. The North American Vegan Spreads & Dips market area will dominate this market because of the rising prevalence of food allergies and lactose intolerance in the population; a substantial number of people in the US and Canada have adopted a vegan lifestyle. This will broaden the range of vegan sauces, dressings, and spreads in the coming years.

The main countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: VEGAN SPREADS & DIPS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Vegan Spreads & Dips market accounts for the second-largest market share. People are becoming conscious of the health, environmental, and ethical difficulties associated with dairy and meat intake. Because of increased health and environmental concerns, Millennials and Generation Z are turning to vegan cuisine. Furthermore, the German Vegan Spreads & Dips market dominated, while the UK Vegan Spreads & Dips market was the fastest expanding in the European region.

The Asia-Pacific Vegan Spreads & Dips Market is estimated to expand at the quickest CAGR between 2023 and 2032. As people become more aware of the benefits of vegan food and their concerns for animals and the environment grow, demand for vegan sauces and dressings will climb. Furthermore, the increased emphasis on living a better lifestyle and attractiveness to international cuisines such as salad, pasta, and so on, particularly among millennials, is propelling market expansion. The demand for premium sauces and the trend for healthier products are expected to fuel market expansion further. Moreover, China's Vegan Spreads & Dips market held the largest market share, and the Indian Vegan Spreads & Dips market was the fastest-growing market in the Asia-Pacific region.

Vegan Spreads & Dips Key Market Players & Competitive Insights

Leading industry companies are making significant R&D investments to broaden their product portfolios, which will spur further market expansion for Vegan Spreads & Dips. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Vegan Spreads & Dips industry market is becoming more competitive; thus, the sector must provide affordable products to grow and survive.

Local manufacturing to minimize operating costs is one of the key business tactics employed by manufacturers in the worldwide Vegan Spreads & Dips industry to help clients and increase the market sector. Some of the biggest benefits of medicine in recent years have come from the Vegan Spreads & Dips industry. Major players in the Vegan Spreads & Dips market, including Daiya Foods, and others, are attempting to increase market demand by investing in research and development operations.

Daiya Foods was formed in 2008 due to a passion for food and a desire to live a healthy lifestyle. Daiya is a founding member of The Plant Based Foods Association-US and The Plant Based Foods Association of Canada. Daiya still celebrates wonderful dairy, gluten, and soy-free foods. It's premium plant-based goods, including a large selection of award-winning vegan cheeses, Cream Cheeze Style Spreads, Pizzas, Pints, Frozen Dessert Bars,  and Cheezecakes, can be found in the dairy case and freezer aisle. Daiya also sells shelf-stable items such as Cheezy Macs, Cheeze Sauce, and Dairy-Free Dressings. Daiya's tasty plant-based foods are available in over 25,000 grocery stores across the United States, including Whole Foods, Kroger, Safeway, Publix, and most natural food retailers. In July 2021, Daiya Foods, the most trusted dairy-free cheese brand and pioneer of plant-based products, today unveiled its new online store, which will allow fans and people interested in experimenting with plant-based eating to purchase its entire line of delicious dairy-, gluten- and soy-free foods directly at www.daiyafoods.com. Daiya is committed to increasing its e-commerce capabilities with this easy online store, given the surge in direct-to-consumer platforms in the last year.

Key Companies in the Vegan Spreads & Dips market include

• Follow Your Heart


• Daiya Foods Inc.


• Meridian Foods Limited


• Amy's Kitchen, Inc.


• B&G Foods, Inc.


• Litehouse, Inc.


• Red Duck Foods, Inc.


• Majestic Garlic


• Bear Pond Farm


• KENSINGTON & SONS.

Vegan Spreads & Dips Industry Developments

February 2023: Tiba Tempeh, a UK plant-based brand, has announced an investment from Samworth Brothers to boost growth in the UK and other European markets.The agreement will assist Tiba Tempeh's product innovation and marketing activities, such as brand and customer awareness, through an undisclosed equity investment in the brand.

May 2022: V2Food, a plant-based food maker, is expanding its existing offering at Woolworths stores nationwide.  The four alternatives are Spaghetti Bolognese, Lasagne, Penne Bake, and Chilli Con Carne. This is the company's fourth plant-based invention, following the successful debut of its plant-based alt-meat items such as sausages, chicken, and mince.

Vegan Spreads & Dips Market Segmentation

Vegan Spreads & Dips Product Type Outlook

• Hummus


• Ranch


• Salsa


• Guacamole


• Nut Butters


• Jams & Marmalade


• Others

Vegan Spreads & Dips Flavor Outlook

• Garlic


• Coconut


• Paprika


• French Onion


• Avocado


• Others

Vegan Spreads & Dips Distribution Channel Outlook

• Store-Based


• Non-Store-Based

Vegan Spreads & Dips Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America