Vegan Dips Market Share, Size, Trends, Industry Analysis Report, By Type (Hummus, Salsa), By Flavors (Classic, Spicy), By Packaging (Bottles, Containers/Tubs), By Distribution Channel (Convenience Stores, Online), By Region, And Segment Forecasts, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM4299
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
The global vegan dips market was valued at USD 129.98 million in 2023 and is expected to grow at a CAGR of 7.7% during the forecast period.
The growing preference for vegan dips and food products is driven by changing consumer tastes and societal shifts. One key factor behind this trend is the increasing health awareness among consumers, prompting them to opt for healthier food choices. Additionally, there is a rising demand for products that are cruelty-free and do not harm animals, leading to the expansion of the vegan food market. As people prioritize their health and ethical concerns, the popularity of vegan dips and plant-based foods is steadily increasing.
To Understand More About this Research: Request a Free Sample Report
The emergence of vegan fast-food chains and the inclusion of plant-based options in popular fast-food restaurants have made plant-based eating more accessible. Additionally, global vegan food festivals and events have effectively highlighted a variety of vegan products, including dips, while advocating for the advantages of plant-based living. With these influential factors and ongoing trends guiding consumer preferences, the demand for vegan dips and food products is anticipated to increase.
The COVID-19 pandemic had various effects on the market. Despite this, the increased focus on bolstering the immune system through a healthy diet led to a higher demand for plant-based foods, including vegan dips. This surge in home-based consumption drove the demand for packaged food products like vegan dips. However, the pandemic also disrupted supply chains globally, posing challenges in production, distribution, and availability for manufacturers of vegan dips.
Growth Drivers
Rising vegan and plant-based lifestyle trends
Several trends have contributed to the rising popularity of vegan food. Celebrity endorsements, media coverage, and documentaries have played a vital role in promoting vegan diets and the consumption of vegan food, including dips. Additionally, the development of tasty plant-based alternatives to traditional dairy products has further spurred interest in vegan dips and other plant-based options.
Furthermore, the growing environmental awareness among consumers of vegan food has resulted in a substantial increase in the demand for sustainable food packaging materials for plant-based products. As people become more conscious of the environmental consequences of packaging waste, they are actively searching for eco-friendly options. In response to this trend, manufacturers of vegan products, like Oatly, are taking measures to tackle the issue by including carbon labeling on their packaging. This enables consumers to make informed decisions, considering the environmental impact of the products they buy.
Report Segmentation
The market is primarily segmented based on type, flavors, packaging, distribution channel, and region.
|
By Type |
By Flavors |
By Packaging |
By Distribution Channel |
By Region |
|
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
By Type Analysis
Salsa vegan dips segment garnered the largest share of the market 2023
The salsa vegan dips segment dominated the market. The increasing adoption of vegan or vegetarian diets has greatly contributed to the widespread popularity of salsa as a vegan dip. Salsa stands out as a versatile and delectable choice, perfect for dipping tortilla chips, serving as a topping for burritos, tacos, or bowls, and even acting as a marinade for various vegan recipes. With a growing demand for flavorful and satisfying plant-based options, manufacturers are innovating to create dips that complement a wide array of dishes, catering to diverse tastes.
The hummus vegan dips segment will grow at a significant pace. Originating from the Middle East, hummus has rich cultural significance and has become a global culinary phenomenon. As culinary traditions are shared across borders due to globalization, hummus has become a staple on menus and grocery store shelves around the world. The growing fascination with international cuisine has played a significant role in its increasing popularity as people venture into diverse and new flavors.
By Flavors Analysis
Classic vegan dips segment accounted for the largest market share in 2023
The classic vegan dips segment accounted for the largest market share. Classic flavors such as buffalo cauliflower dip, vegan ranch, & spinach artichoke dip have been increasingly popular. These classic flavored vegan dips are crafted using plant-based ingredients that are inherently lower in saturated fats and cholesterol compared to their animal-based equivalents. For health-conscious consumers, such dips offer a guilt-free and nutritious choice to pair with their preferred snacks & meals.
The Herby & Fresh Dips segment will exhibit a robust growth rate. These vegan dips, infused with herbal and fresh flavors, add a diverse taste profile to meals, making them attractive to vegans, vegetarians, and non-vegetarians alike. Their adaptability enables them to enhance a wide range of foods, including vegetables, crackers, bread, dressings, and sandwich spreads.
By Packaging Analysis
Containers/tubs vegan dips segment accounted for the largest market share in 2023
The container/tubs vegan dips segment accounted for the largest market share. These containers or tubs offer a convenient and user-friendly solution. They present a ready-to-eat option for consumers seeking quick and effortless choices. Such packaging formats enable people to enjoy vegan dips while on the move, making them ideal for hectic schedules, outdoor gatherings, parties, or office meals.
The sachets/pouches segment will exhibit a robust growth rate. These packaging options provide a convenient and portable solution for vegan dips. They come pre-portioned & are easy to carry, allowing individuals to grab it without the need for extra utensils or containers. This makes them perfect for picnics, & office lunches. Such convenience resonates with the demands of busy, contemporary lifestyles, catering to consumers seeking quick and hassle-free options.
Regional Insights
Europe accounted for the largest share of global market in 2023
Europe garnered the largest share. The region has experienced a surge in health awareness among consumers. A growing number of individuals are embracing plant-based diets, including vegan dips, considering them healthier alternatives to traditional dairy-based dips. These dips are commonly crafted from nutrient-dense ingredients such as legumes, nuts, and vegetables, offering a healthier option with reduced saturated fat and cholesterol content.
Asia Pacific will grow at a substantial pace. This growth is attributed to the region's growing alignment with global food trends, particularly the surge in veganism and plant-based diets observed in other parts of the world. The increasing popularity of vegan dips in Western countries has influenced Asian cuisines, sparking heightened curiosity and acceptance of plant-based dips in the region. Additionally, the impact of social media and international travel has played a role in disseminating global food trends, including the adoption of vegan options like dips.
Key Market Players & Competitive Insights
In the vegan dips industry, companies are focusing on creating products that enhance the convenience and attractiveness of noodles as a snacking choice. The vegan dips market is fiercely competitive, with numerous players in the vegan food sector. These companies are closely monitoring local consumer preferences and are innovating a variety of products to cater to the diverse needs of consumers.
Some of the major players operating in the global market include:
- Bolthouse Farms Inc.
- DAIYA FOODS INC.
- Frito-Lay North America Inc.
- Galaxy Nutritional Foods Inc.
- Good Foods Group
- Kite Hills
- SABRA DIPPING CO. LLC
- Siete
- The Kraft Heinz Company
- Wingreen World
Recent Developments
- In May 2023, Asda introduced two new vegan product lines comprising a wide array of over 112 items. The initial range, OMV!, is designed to provide delectable and satisfying meat-free meals and snacks. It caters to individuals seeking flavorful plant-based choices without compromising on taste or enjoyment.
- In June 2023, Fresh Cravings introduced 3 new plant-based dips at Walmart stores: fire avocado salsa, fire red salsa, & bagel creamy dip. These additions to their product line-up offer customers seeking tasty and versatile dipping choices a delightful option.
Vegan Dips Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 139.64 million |
|
Revenue forecast in 2032 |
USD 252.77 million |
|
CAGR |
7.7% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
|
Segments covered |
By Type, By Flavors, By Packaging, By Distribution Channel, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
Explore the 2024 market share, size, and revenue growth rate statistics in the field of vegan dips market, meticulously compiled by Polaris Market Research Industry Reports. This comprehensive analysis encompasses a market forecast outlook extending to 2032, along with an insightful historical overview. Experience the depth of this industry analysis by obtaining a complimentary PDF download of the sample report.
Browse for Our Top Selling Reports
AI in oncology Market Size & Share
Smart Pills Market Size & Share
FAQ's
The global vegan dips market size is expected to reach USD 252.77 million by 2032
Key players in the market are Kraft Heinz, Kite Hills, Good Foods, Wingreen World, Galaxy Nutritional Foods
Europe contribute notably towards the global vegan dip market
The global vegan dip market is expected to grow at a CAGR of 7.7% during the forecast period.
The vegan dip market report covering key segments are type, flavors, packaging, distribution channel, and region.
