The Reports and Insights, a leading market research company, has recently releases report titled “Plant Based Spreads Market Share: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Plant Based Spreads Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Plant Based Spreads Market?
The global plant based spreads market size reached US$ 702.6 million in 2023. Looking forward, Reports and Insights expects the market to reach US$ 1,118.3 million in 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.
What are Plant Based Spreads?
Plant-based spreads are spreads made from plant-derived ingredients like nuts, seeds, or vegetables, blended to a spreadable consistency. These spreads serve as substitutes for conventional dairy-based spreads such as butter or margarine and are commonly suitable for vegan diets. They can be fortified with additional nutrients and are available in various flavors and textures, catering to individuals with specific dietary needs or preferences.
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What are the growth prospects and trends in the Plant Based Spreads industry?
The plant-based spreads market growth is driven by various factors. The plant-based spreads market is witnessing notable growth, propelled by the rising consumer inclination towards vegan-friendly products derived from plants. These spreads, acting as substitutes for conventional dairy spreads, are gaining traction owing to their health advantages and eco-friendliness. Factors like increasing awareness regarding the environmental consequences of animal agriculture, a growing preference for plant-based items, and the introduction of innovative flavors and ingredients are driving this market expansion. Moreover, the market is benefiting from the introduction of new product variants and the broadening of distribution networks. Hence, all these factors contribute to plant-based spreads market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type
- Lard
- Margarine
- Nut Butters
- Legume-based spreads
- Veggie Pâtés
- Pestos
- Guacamole
- Hummus
- Vegan Cream Cheese
- Vegan Herring Salad
- Jam
- Others
By Source
- Pulses
- Vegetable Oils
- Nuts
- Seeds
- Grains
By Distribution Channel
- Hypermarket and Supermarket
- Convenience Store
- Specialty Store
- Online Channel
By Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- Benelux
- Nordic
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
Middle East Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
- Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
- DAIYA FOODS INC.
- Meridian Group.
- Amy's Kitchen Inc.
- BG Foods Inc.
- Litehouse Inc.
- Red Duck Foods, Inc.
- Majestic Garlic
- Bear Pond Farm
- KENSINGTON SONS
- KATE HILL
- WayFare Health Foods
- Good Foods Group LLC
- Galaxy Nutritional Foods, Inc.
- Frito-Lay North America, Inc.
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