Vegan Dips Market To Cross $413.4 Mn By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Major vegan dips market participants include The Kraft Heinz Company, Kite Hills, Good Foods Group, Wingreen World, Galaxy Nutritional Foods Inc., SABRA DIPPING CO. LLC, DAIYA FOODS INC., Frito-Lay North America Inc., Bolthouse Farms Inc., Siete, Hippeas

Selbyville, Delaware, Oct. 07, 2024 (GLOBE NEWSWIRE) --

The vegan dips market valuation is predicted to exceed USD 413.4 million by 2032, reported in a research analysis by Global Market Insights Inc.

The market expansion is driven by two factors: increased consumer preference for plant-based diets and heightened awareness of their health benefits. As individuals adopt vegan and vegetarian lifestyles-driven by ethical, environmental, and health motivations-the demand for plant-based alternatives to traditional dips has surged. Data from the USDA highlights this trend, noting a 600% rise in the number of Americans identifying as vegan from 2014 to 2020. With growing awareness of the health benefits associated with vegan diets-like lower calorie and fat content-interest in vegan dips as nutritious snacks is on the rise. This shift aligns with broader movements towards clean eating and sustainable living, fueling both innovation and market expansion. CDC data reveals that 40% of U.S. adults are actively trying to cut down on meat consumption.
The vegan dips industry is navigating several key trends. New flavors and ingredients are being introduced, appealing to diverse taste preferences, from spicy and smoky to exotic. There's a pronounced emphasis on clean-label and organic products, reflecting consumer demand for transparency and natural ingredients. USDA data shows a 12% growth in the organic food sector in 2023.
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The vegan dips market from hummus segment is set to grow at a CAGR of over 7.9%, reaching USD 140.6 million by 2032, owing to its versatility, nutrition, and flavor. Primarily made from chickpeas, hummus appeals to health-conscious and plant-based consumers. Its market allure is enhanced by a diverse flavor range-from traditional and spicy to exotic. Hummus's adaptability is evident, finding favor in both casual dining and gourmet settings. Its retail and foodservice presence is on the rise, bolstered by continuous innovations in recipes and packaging.
Projected to grow at a CAGR of around 7.8% through 2032, the household segment of the vegan dips market is set to reach USD 198.4 million. The household segment's significance is underscored by a rising demand for convenient, healthy, and plant-based food choices. Households frequently use vegan dips for snacking, meal prep, and entertaining. Trends like home cooking, health-conscious eating, and the popularity of plant-based diets bolster this segment. Offerings for households range from single-serve packs and larger family-sized containers to diverse flavors catering to varied tastes. With increasing awareness and accessibility, this segment is poised for notable growth and innovation.
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North America vegan dips market is projected to achieve a size of approximately USD 153 million, growing at an 8.5% CAGR from 2024 to 2032. Rising consumer awareness and a growing appetite for plant-based foods drive North America's position as a key player in the vegan dips landscape. The U.S. and Canada are at the forefront, driven by heightened health consciousness, a rise in veganism, and a commitment to sustainable eating. The market boasts a diverse product range-from hummus and guacamole to specialty dips-readily available through major retail chains, health food stores, and online platforms. Innovations in flavors, packaging, and nutritional benefits, coupled with aggressive marketing strategies, propel market growth. Additionally, a growing preference for clean-label and organic products cements the region's upward trajectory.
Partial chapters of report table of contents (TOC):

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Base estimates & calculations

1.3 Forecast calculation

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis

Chapter 3 Vegan Dips Market Insights

3.1 Industry ecosystem analysis

3.1.1 Key manufacturers

3.1.2 Distributors

3.1.3 Profit margins across the industry

3.2 Industry impact forces

3.2.1 Increasing awareness of health and wellness

3.2.2 Growing vegan and plant-based trends

3.2.3 Innovation and product diversification

3.2.4 Market challenges

3.2.4.1 Competition from traditional and non-vegan alternatives

3.2.4.2 Supply chain and ingredient sourcing

3.2.5 Market opportunity

3.2.5.1 New opportunities

3.2.5.2 Growth potential analysis

3.3 Raw material landscape

3.3.1 Manufacturing trends

3.3.2 Technology evolution

3.3.2.1 Sustainable manufacturing

3.3.2.1.1 Green practices

3.3.2.1.2 Decarbonization

3.3.3 Sustainability in raw materials

3.3.4 Pricing trends (USD/Ton), 2021 - 2032

3.3.4.1 North America

3.3.4.2 Europe

3.3.4.3 Asia Pacific

3.3.4.4 Latin America

3.3.4.5 Middle East & Africa

3.4 Regulations & market impact

3.5 Porter's analysis

3.6 PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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