The North America Vegan Dips Market would witness market growth of 7.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 4,454.0 thousand Units (Per 7-9 OZ), showcasing a growth of 5.6% (2019-2022).
The demand for clean-label products continues to influence the formulation of vegan dips. Consumers seek transparency in ingredient lists, leading manufacturers to prioritize minimalist formulations free from artificial additives and preservatives. Minimalist formulations characterize clean-label products. This involves using a concise list of recognizable, real-food ingredients while omitting synthetic additives, colorings, and preservatives. The focus is on simplicity and authenticity in the ingredient list. Clean-label products embody the concepts of naturalness and purity.
Consumers are drawn to products that showcase the inherent flavors and qualities of the ingredients without the interference of artificial or unnecessary additives. This preference extends to vegan dips, where the essence of plant-based ingredients is celebrated. Achieving the desired texture and mouthfeel is a focal point for manufacturers of vegan dips. Food technology and ingredient innovation advancements are employed to replicate the creamy and satisfying textures traditionally associated with dairy-based dips.
Moreover, restaurants, cafes, and other food service establishments in Canada may respond to the rising demand for vegan options by incorporating vegan dips into their menus. This can lead to increased sales within the food service sector. As per the data from the Government of Canada, the retail value of plant-based (meat-free) ready meals in Canada amounted to $19.1 million in 2021, accounting for 17.4% of the overall sales of free from ready meals. During 2022-2026, sales of plant-based ready meals are forecast to reach US$31.8 million in 2026. Thus, rising retail and food service sales in North America will boost the demand for vegan dips in the region.
The US market dominated the North America Vegan Dips Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $42,142.3 Thousand by 2030. The Canada market is registering a CAGR of 9.8% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 8.8% during (2023 - 2030).
Based on Flavors, the market is segmented into Classic, Herby & Fresh, Spicy, and Others. Based on Packaging, the market is segmented into Containers & Tubs, Bottles, Sachets & Pouches, and Others. Based on Type, the market is segmented into Salsa, Hummus, Guacamole, and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Vegan Dips Market is Predict to reach $191.8 Million by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Kraft Heinz Company, Kite Hill, Good Foods Group, LLC, Daiya Food, Inc. (Otsuka Pharmaceutical Co., Ltd.), Wm. Bolthouse Farms, Inc., Wingreens Farms Private Limited, Sabra Dipping Company, LLC, PepsiCo, Inc. (Frito-Lay North America Inc.), Siete Family Foods, and Galaxy Nutritional Foods, Inc. (GreenSpace Brands).
By Flavors (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
By Packaging (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
By Type (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
By Distribution Channel (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
By Country (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
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