PUBLISHER: Grand View Research | PRODUCT CODE: 1404631
PUBLISHER: Grand View Research | PRODUCT CODE: 1404631
The global vegan dips market size is expected to reach USD 209.5 million by 2030, growing at a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market expansion is anticipated to be fueled by the increasing health consciousness among consumers and rising demand for animal cruelty-free products. The market is experiencing growth due to rising consumer demand for eco-friendly products. As people become more aware of the environmental impact of animal-based products, they are actively seeking vegan alternatives, driving the market's expansion.
Moreover, the accessibility of vegan alternatives catering to diverse tastes has contributed to culinary innovation in the plant-based food industry. Chefs and food companies have responded to the increasing popularity of veganism by developing a wide array of plant-based products, including dips and spreads, replicating classic dishes, and offering novel flavors to entice consumers. Various food industry sectors experienced disruptions during the pandemic, and the market was no exception. With lockdowns, social distancing measures, and a heightened focus on health, consumers' shopping and eating habits changed significantly.
As people spent more time at home, there was a surge in demand for convenience and shelf-stable products, including vegan dips that could be easily enjoyed as snacks or added to home-cooked meals. This led to an initial boost in sales for some established vegan dip brands, particularly those with strong online and grocery store presences. Furthermore, the pandemic caused widespread disruptions in supply chains, making it difficult for smaller producers to source raw materials and ingredients for their vegan dip products. Restrictions on movement, border closures, and increased demand for certain goods created bottlenecks, leading to delays and shortages for many small-scale producers.
Moreover, veganism has gained traction in popular culture and social media, exposing Europeans to vegan food and its benefits. Influencers, celebrities, and food bloggers often promote plant-based diets, influencing consumer choices and sparking interest in vegan food.