Return to: Business NewsVegan Sauces, Dressings & Spreads Market Worth $365.8 Million By 2027Vegan Sauces, Dressings & Spreads Market Growth & Trends The Global Vegan Sauces, Dressings & Spreads Market size is expected to reach USD 365.8 million by 2027, expanding at a CAGR of 8.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising adoption of vegan lifestyle owing to increasing awareness pertaining to adverse environmental effects of eating habits is expected to drive the market. New products launches have also been acting as a catalyst for the market growth. For instance, in December 2019, Il Mulino, a New York-based Italian restaurant, launched plant-based sauces, including Organic Tomato Basil, Marinara, Bolognese, Vodka, and Pomodoro. These come in small batches and include San Marzano tomatoes and cold-pressed EVOO from Abruzzi as major ingredients. These products are priced between USD 12 and USD 15. Moreover, in January 2020, Tesco through Wicked Kitchen launched vegan sauces and dressings, including beetroot dressing, siracha, teriyaki, Asian style BBQ, mango, and horseradish and mustard. Similarly, in October 2019, LEON has launched a new range of sauces, including mayonnaise, beetroot ketchup, chili, and brown, through 600 Sainsbury's stores. The company is focused on inspiring people to consume plant-based food. The company claims its products are free of artificial ingredients. Additionally, in October 2019, French Cravings launched a range of vegan dips through Walmart. Most of these dips are derived from almond and cashew. These dips are available in various flavors including Kickin’ Queso Style Cashew, Zesty Ranch Cashew, Creamy Dill Cashew, Creamy Garlic Almond, Spicy Garlic Almond, Organic Creamy Vanilla Cashew Dip, Organic Chocolate Mousse Cashew Dip, and Smokehouse Almond. The company is focusing on expanding its buyer base by targeting those customers who have been shifting towards veganism. For More Details Please Visit @: https://www.grandviewresearch.com/industry-analysis/vegan-sauces-dressings-spread-market Vegan Sauces, Dressings & Spreads Market Report Highlights • Based on product, the sauces segment was valued at USD 90.4 million in 2019. This is attributed to increasing adoption of the product in various cuisines across the globe • Plant-based dressings are expected to register the fastest CAGR over the forecast period owing to increasing dependence on salads as meals globally • Online distribution channel is expected to witness the fastest growth from 2020 to 2027. The convenience pertaining to direct to customer delivery and access to a large variety of flavors are expected to drive this channel in the years to come • North America and Europe jointly accounted for more than 65.0% share of the global revenue in 2019. Growing importance of vegetarianism in developed countries, such as U.S., Germany, U.K., France, and Canada, is expected to have a positive impact on the market growth in these regions. Vegan Sauces, Dressings & Spreads Market Segmentation Grand View Research has segmented the global vegan sauces, dressings and spreads market on the basis of product, distribution channel, and region: Vegan Sauces, Dressings & Spreads Product Outlook (Revenue, USD Million, 2016 - 2027) • Sauces • Dressings • Spreads Vegan Sauces, Dressings & Spreads Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027) • Online • Offline Vegan Sauces, Dressings & Spreads Regional Outlook (Revenue, USD Million, 2016 - 2027) • North America o U.S. o Canada • Europe o Germany o U.K. o France o Spain • Asia Pacific o Australia • Central & South America • Middle East & Africa List of Key Players of Vegan Sauces, Dressings & Spreads Market: • Follow Your Heart • Daiya Foods Inc. • Meridian Foods Limited • Amy's Kitchen, Inc. • B&G Foods, Inc. • Litehouse, Inc. • Red Duck Foods, Inc. • Majestic Garlic • Bear Pond Farm • KENSINGTON & ... News Release: Vegan Sauces, Dressings & Spreads Market Worth $365.8 Million By 2027 Submitted on: June 01, 2020 08:54:10 AM Submitted by: sitakant On behalf of: www.industryprobe.com |