In 2022, the global vegan salad dressing market was valued at USD 143.7 million. The overall market is expected to register a CAGR of 7.5% between 2023 and 2033. This impressive growth rate is predicted to take the valuation of the market from USD 154.9 million in 2023 to nearly USD 296.3 million by the year 2033.
The purpose of any type of dressing is to improve the flavor and aroma of the salad. So, it is getting popular with the growing restaurant and hotel businesses around the world over the years. In addition, due to the global trend toward a balanced lifestyle, the consumption of salads and green vegetables is also on the rise.
The traditional vegan salad dressing includes cheese, almonds, cream, and seasonings, as well as some other condiments with already wide popularity. With the proliferation of online shopping websites, the sales of vegan salad dressing of this type have grown exponentially in the preceding decade. Improving the spending capacity of the common citizens across the countries is also claimed to have increased the consumption of such a product only for added attraction.
On the other hand, some completely new types of salad dressings to substitute animal-based salad dressings have also entered the market. These plant-based alternatives such as vegan mayonnaise, vegan fish sauce, and many more have made it to the list of vegan salad dressing products. Currently, these modern and unconventional have become the major focus of vegan salad dressing manufacturers, garnering higher returns than traditional dressings.
The business of meatless food has expanded rapidly in the last few years and has become increasingly intense over the world. Due to the great variety of plant-based meat alternatives available to customers today, their dietary habits have grown more diversified and explorative.
Attributes | Details |
---|---|
Vegan Salad Dressing Market Share (2022) | USD 143.7 million |
Vegan Salad Dressing Market Size Value (2023) | USD 154.9 million |
Vegan Salad Dressing Market Size Value (2033) | USD 296.3 million |
Vegan Salad Dressing Market Growth Rate (2023 to 2033) | 7.5% |
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According to the FMI study, the demand for vegan salad dressing would be slightly lower, compared to an average year-on-year growth of 7.7% from 2016 to 2022. This drop in CAGR is due to the effect of the pandemic 2 years back, and it is getting recovered progressively following the pandemic years.
A large section of people have shifted from eating at restaurants and eateries and prefer preparing salads at home due to health, cost, and creativity. To make the salad exclusively in-house, they are altering the recipe by use of new types of vegan and non-vegan salad dressings. Such changing trends are anticipated to strengthen product performance and boost the emerging trends in the vegan salad dressing market.
The majority of buyers are unaware of the availability of different types of flavors of vegan salad dressing in their local retail shops. Moreover, the lack of digital literacy in many emerging economies limited the awareness about meatless products as expected. The market for vegan salad dressings is predicted to be hampered by such limitations in its expansion.
Tomato ketchup and chili sauce is the most popular and readily available product types in the world for all types of salad dressings. However, the ranch dressing product actually dominates the global vegan salad dressing market in terms of value and revenue generation. As per this market report, this product type segment contributes to nearly 45.6% of the total revenue generated globally. In the year 2022, the net worth of the total sales of ranch dressing was figured out to be US$ 66.4 million.
The demand for other product types such as oil-based dressing, gourmet salt, or BBQ sauce has remained limited in the past because of the very small consumer base. However, the demand for such product types from food service businesses is expected to grow steadily over the forecast years.
As evident from the vegan salad dressing market survey report, offline stores contribute to more than 60% of the overall sales globally. Furthermore, the store-based retailing sub-segment contributes to nearly 35.6% of the overall sales achieved each year. Customers are drawn to offline store-based retailing by the deals and promotions on a variety of items including vegan salad dressing packs.
Along with convenience stores and specialty shops, online and e-commerce platforms are a new and developing channel for the distribution of vegan salad dressing. The principal point of purchasing all types of premium food ingredients and condiments customers is increasingly becoming the e-commerce platform. Over the forecast years, this segment is projected to grow at a much faster rate than any other offline distribution channel segment for vegan salad dressings.
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The net worth of the USA vegan salad dressing market in the year 2022 was USD 37.7 million which was the highest of any other country. Presently, the country holds a market share of about 26.2% and is projected to maintain this dominant position through the forecast years.
As per the vegan salad dressing market analysis report, the demand for the product is expanding greatly in the United States. People in the United States are adjusting their tastes away from animal-based flavorings and are moving toward healthy food, which now has opened up new market opportunities.
Because more people are incorporating natural and organic foods into their everyday diets, the vegan salad dressing business is continuously diversifying and growing. It is anticipated that there would be a rise in the market for vegan salad dressings due to the rising concern for animal rights and welfare in many European nations. Germany is the leading market for all types of vegan salad dressing with extensive restaurant and retail business chains. The sales of vegan salad dressing in Germany in 2022 were estimated to be around USD 27 million, placing it second on the list.
Contrarily, the United Kingdom is the fastest-growing region for the demand and sales of vegan salad dressing in Europe as well as the world. The total valuation of the United Kingdom vegan salad dressing market in 2022 was figured out to be USD 13.5 million. During the forecast years, it is projected to register the highest CAGR of 9.4% and reach a valuation of USD 34.1 million by 2033.
People of the Southeast follow unique cultural trends in meals and make use of a large number of salad dressings in their preparation. Among the Asia Pacific nations, China is the major market for all types of salad dressing including plant-based alternatives. The total value of all vegan salad dressing items sold in China in the year 2022 was found to be USD 12.7 million.
Moreover, with a strong base for food processing industries, the China vegan salad dressing market is projected to register a CAGR of 6.3% through 2033. By the conclusion of this forecast period, this regional market is expected to reach a valuation of USD 25.1 million.
India is the top-performing regional market for the product in the Asia Pacific region over the years. The consumption of salad and its popularity in India has increased in the last few years with Western food trends and patterns. So, India is analyzed to register an average CAGR of 7.5% which would take the market valuation from USD 5 million in 2022 to USD 11.1 million by 2033.
Due to the evolving nature of the food and beverage industry, providing customers with new flavors can help a firm maintain a stronger position in the global food ingredients and condiments market
The majority of retail stores and supermarkets provide a selection of vegan salad dressing ingredients in consumer packs. So appropriate packaging and creating a better brand value is anticipated to remain a major strategy for the market players in coming years.
Several of the leading players have also made new product development a significant component of their business strategies to outcompete their rivals. It enables them to better cater to consumer tastes and increase their brand value in the global market. For instance, the vegan alternatives of Kraft Heinz's salad cream and mayonnaise were introduced to The United Kingdom supermarkets in Feb 2020.
A subsidiary of Mizkan Holdings called Mizkan America purchased the broth and barbecue brand named Born Simple in the year 2021. It is one of the leading companies in the sauce and vinegar industry in the USA. therefore Mizkan Holdings claims that the purchase would benefit the firm in penetrating the vegan salad dressing market.
A range of Power Dressings containing well-liked varieties like Garden French, Creamy Ranch, Greener Goddess, and Creamy Italian was introduced by Healthy Choice in May 2020. These dressings are ideal for garnishing up BBQ favorites such as salads and vegetables as well as dips and marinades.
The Asia Pacific region is projected to emerge as a lucrative market for vegan salad dressing.
The growth potential of the vegan salad dressing market is 7.5% CAGR through 2033.
The high cost of raw materials and the lack of awareness about vegan products are likely to limit market growth.
North America is likely to generate 30% revenue in the vegan salad dressing market in 2023.
The global vegan salad dressing market size is projected to reach USD 296.3 million by 2033.
1. Executive Summary | Vegan Salad Dressing Market 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Mayonnaise 5.2. Sauces 5.3. Oil-based Dressings 5.4. Others 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Residential 6.2. Commercial 6.2.1. Restaurants 6.2.2. Cafes 6.2.3. Quick Food Service Outlets 6.2.4. Others 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Off-Trade 7.1.1. Hypermarket/Supermarket 7.1.2. Convenience Stores 7.1.3. Specialty Retailers 7.1.4. Others 7.2. On-Trade 8. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East and Africa (MEA) 9. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Unilever Plc 16.2. Mizkan Holdings 16.3. The Kraft Heinz Company 16.4. Veeba Food Services 16.5. Kewpie Corp. 16.6. McCormick & Company 16.7. B&G Foods, Inc. 16.8. Kikkoman Corporation 16.9. ConAgra Food Inc. 16.10. Sweet Baby Ray’s 16.11. Litehouse, Inc. 16.12. Majestic Garlic 17. Assumptions & Acronyms Used 18. Research Methodology
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