Vegan Spreads & Dips Market Industry Research Overview’s by Regions, Report.
Vegan Spreads & Dips Market Outlook
The global vegan spreads and dips market size
was valued at a global market sum worth USD 194.6 million during the historic
forecast period that had ended in 2019 and is expected to grow at a compound
annual growth rate (CAGR) of 8.2% during the ongoing forecast period that will
be ending in 2028. The vegan spreads and dips market trends suggest that there
has been a growing importance of a vegetarian diet among the consumers because
of increased awareness regarding cruelty-free products in developed economies,
as a part of the market, including Germany, the U.K., and France, is expected
to have a positive impact on market growth during the ongoing forecast period
of 2021-2028.
The escalated concerns of larger groups
regarding concern regarding human health and animal welfare are estimated to
further add to the development of the vegan spreads & dips market in the
forecast period. The entry of global players in the market is estimated to
create opportunities for the expansion of the vegan
spreads & dips market size .
Segmental Analysis
The segmental study of the vegan spreads &
dips market is carried out based on product type, flavor, distribution channel,
and region. The distribution channel segment of the vegan spreads & dips
market comprises non-store-based channels and store-based channels. The flavor
segment of the vegan spreads & dips market comprises coconut, garlic, paprika,
avocado, and french onion. The product type segment of the vegan vitamins
market size comprises ranch, hummus, salsa, guacamole, jams & marmalade,
nut butter, and others. The regions included in the vegan spreads & dips
market are North America, Asia Pacific, Europe, and other regions.
Detailed Regional Analysis
The regional examination of the vegan spreads
& dips market share is carried out for regions such as North America, Asia
Pacific, Europe, and other regions. The North American regional market was
assessed as the leader in the global vegan spreads & dips market in 2018
owing to the collective number of customers in the region that are motivated
toward the consumption of organic vegan spreads & dips. The US national
market is one of the noteworthy markets for vegan spreads & dips. The vegan
spreads & dips market in the Asia Pacific is a new income segment for the
overall vegan spreads & dips market. The existence of a large market in
Japan, China, and South-East Asian countries generates an optimistic market for
the current players. The collective awareness among customers about plant-based
foods is compelling the growth of the vegan spreads & dips market in the
region.
Competitive Analysis
The funding scenario in the market is estimated
to be optimistic and conducive to the development of the stakeholders in the
market. The scale of innovation being observed in the market is another reason
that is adding to the advancement of the global market in the future. The
advancement of the market is spurred by the initiatives of the leaders in the
global market, who are dedicating resources to the development of the overall
market. The detrimental impact on the environment by the business practices is
estimated to be a key component in the future growth strategies of the market.
The government policies in several regions are very conducive to the
development of the market in the upcoming period. The advancement of production
technology and processes is estimated to augment the global market. The
establishment of clear long-term objectives by market titans is estimated to
set the tone for the continuing expansion of the market. The identification of
areas for sustainable enhancement in the supply chain is estimated to further
fortify the market.
The eminent contenders in the Vegan
Spreads & Dips Market Overview’s are Good Foods Group, LLC (US), Strauss Group
(Israel), Galaxy Nutritional Foods, Inc. (US), Sabra Dipping Company, LLC (US),
Kite Hill (US), Frito-Lay North America Inc (US), The Honest Stand (US),
WayFare Health Foods (US), Good Karma Foods (US), and Wingreen Farms (India)
Industry Updates:
Feb 2021 So Delicious Dairy Free, a vegan brand
has introduced a new lineup of plant-based cheese products, counting spreads,
shreds, and slices. So Delicious Shreds and Slices are also offered at grocery
stores nationwide in the US, with retailers such as Target, Hy-Vee, Fresh
Thyme, Hannaford, Walmart, HEB, Market Basket, and Stop & Shop. The
redeveloped Shreds are presented in three styles such as Mexican, cheddar, and
mozzarella, and the slices are offered in American and cheddar kinds. The
latest addition to the roster such as cream cheese style spreads will be
unveiled in retailers countrywide and will be obtainable in chive & onion
and creamy original flavors.
Jan 2021 Trader Joe’s, a US-based grocery chain
will be starting two new vegan dips this year. The new dips will merge with an
existing and growing collection of vegan types of dairy-based products at
Trader Joe’s, comprising vegan ranch dip, refrigerated meal vegan mac and
cheese, cheddar style slices, and mozzarella style shreds vegan cheeses,
non-dairy mint & chip bonbons, and cheese-less cheesecakes.
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