The Global Vegan Dips Market size is expected to reach $191.8 million by 2030, rising at a market growth of 7.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 17,804.5 thousand Units (Per 7-9 OZ) experiencing a growth of 5.8% (2019-2022).
Growing awareness of health and environmental issues has led many consumers in North America to adopt plant-based diets. Therefore, North America segment generated $33,750.0 million revenue in the market in 2022. This shift in consumer preferences has contributed to the demand for vegan products, including dips. The food industry has introduced various inventive plant-based alternatives with the increasing consumer demand for vegan products. These factors will boost the demand in the segment. Some of the factors impacting the market are rising interest in plant-based diets, innovations in flavor profiles and taste and texture challenges with vegan dips.
Concern has grown regarding the environmental effects of conventional animal agriculture methods, including deforestation, water consumption, and greenhouse gas emissions. Consumers increasingly recognize the role of their food choices in contributing to environmental sustainability. Opting for plant-based diets and products, such as vegan dips, is considered more environmentally friendly. Health-conscious consumers are paying more attention to the nutritional aspects of their diets. Frequently associated with reduced saturated fat and cholesterol intake, plant-based diets may also provide an abundance of fiber, vitamins, and minerals. Additionally, using herbs and spices is pivotal in enhancing the taste and aroma of vegan dips. Various seasonings, such as garlic, onion, cumin, paprika, cilantro, and dill, can be incorporated to create distinctive and flavorful profiles. These additions contribute to a sensory experience that rivals traditional dips. Likewise, umami, often called the "fifth taste," adds a savory and rich flavor dimension. Plant-based sources of umami, such as mushrooms, tomatoes, soy sauce, and nutritional yeast, are commonly used to enhance the depth of taste in vegan dips. These factors will drive the demand for vegan dips in the coming years and These aspects will lead to increased demand for vegan dips in the future.
However, Dairy-based dips often derive their complex flavors from fermentation, aging, or specific dairy cultures. Plant-based alternatives may struggle to replicate this depth of flavor, impacting the complexity consumers associate with traditional dips. While plant-based alternatives replace dairy ingredients, finding substitutes that mimic the taste and texture of cheese, yogurt, or cream can be complex. Some substitutions may alter the overall flavor profile and texture of the dips. Traditional dairy-based dips often involve specific cooking and culinary techniques contributing to their unique taste and texture. Adapting these techniques to plant-based ingredients can be a learning curve for manufacturers and chefs, affecting their ability to replicate traditional flavors. These factors are expected to restrain the growth of the market.
On the basis of flavors, the market is divided into classic, spicy, herby & fresh, and others. In 2022, the herby and fresh segment witnessed a substantial revenue share in the market. Consumers have preferred diverse and unique flavors, including herby and fresh profiles, in their food products. Dips with natural, fresh herbs are often associated with a healthier and more vibrant image. Consumers are increasingly looking for clean-label products with minimal and recognizable ingredients. Dips that feature fresh herbs align well with this trend, as they often signify natural and wholesome ingredients. These factors will boost the demand in the segment.
Based on packaging, the market is divided into bottles, sachets & pouches, containers & tubs, and others. The containers and tubs segment recorded the maximum revenue share in the market in 2022. Containers and tubs that are convenient, eco-friendly, and visually appealing can attract consumers. Containers and tubs offer convenience and portability, making them suitable for on-the-go consumption. As lifestyles become busier, consumers often seek convenient and easily transportable food options. Therefore, the segment will expand rapidly in the coming years.
Based on type, the market is segmented into hummus, salsa, guacamole, and others. In 2022, the hummus segment garnered a significant revenue share in the market. Hummus is often perceived as a healthier alternative to traditional dairy-based dips. Its high fiber content, plant-based proteins, and diverse nutrients make it an appealing choice for individuals who prioritize their health. Hummus brands have successfully marketed their products as not just a dip but also a versatile ingredient in various dishes. Owing to these factors, there will be increased demand in the hummus segment.
On the basis of distribution channel, the market is divided into supermarkets & hypermarkets, convenience stores, online, and others. The supermarkets and hypermarkets segment recorded the maximum revenue share in the market in 2022. Supermarkets and hypermarkets constantly expand their product lines to meet consumers' changing preferences. As the demand for vegan dips rises, retailers will likely allocate more shelf space to these products. Supermarkets and hypermarkets provide convenient access to various products in one location. Consumers looking for vegan dips may find it more convenient to purchase these products alongside other grocery items. Owing to these aspects, the segment will witness increased growth in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 108.6 Million |
| Market size forecast in 2030 | USD 191.8 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 7.6% from 2023 to 2030 |
| Number of Pages | 461 |
| Number of Table | 950 |
| Quantitative Data | Volume in Thousand Units (per 7-9 OZ), Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Flavors, Packaging, Distribution Channel, Region |
| Country scope |
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| Companies Included | 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) |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Europe segment acquired the highest revenue share in the market. Supportive government policies and regulations promoting plant-based diets and sustainable food practices can positively influence the demand for vegan dips in Europe. Likewise, the increasing number of people in Europe adopting vegan and flexitarian lifestyles is a key factor contributing to the rising demand for plant-based food, including vegan dips. As a result, there will be increased demand in the segment.
Free Valuable Insights: Global Vegan Dips Market size to reach USD 191.8 Million by 2030
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 Geography (Volume, Thousand Units (Per 7-9 OZ), USD Million, 2019-2030)
The Market size is projected to reach USD $191.8 million by 2030.
Rising interest in plant-based diets are driving the Market in coming years, however, Taste and texture challenges with vegan dips restraints the growth of the Market.
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).
In the year 2022, the market attained a volume of 17,804.5 thousand Units (Per 7-9 OZ) experiencing a growth of 5.8% (2019-2022).
The Salsa segment is registering maximum revenue in the Global Vegan Dips Market by Type in 2022; thereby, achieving a market value of $62.3 Million by 2030.
The Europe region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $65.4 Million by 2030.
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