Global Dips and Spreads Market Size to Exceed USD 172.84 Billion by 2032 | CAGR of 5.99%
The Global Dips and Spreads Market Size was valued at USD 96.56 Billion in 2022 and the Worldwide Dips and Spreads Market is expected to reach USD 172.84 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Britannia Industries Limited, Wingreens Farms Pvt Ltd, AVT Gavia Foods Pvt Ltd, Greendot Health Foods Pvt Ltd, Veeba Foods, The Kraft Heinz Company, Campbell Soup Company, PepsiCo, McCormick and Company, Inc., Conagra Brands, Inc, Sandridge Food Corporation, Arizona Spice Company LLC, and Other key vendors
New York, United States , Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Global Dips and Spreads Market* *Size is to grow from USD 96.56 Billion in 2022 to USD 172.84 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.99% during the projected period.
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Dips and spreads are thick sauces that are dipped into before eating. Dips and spreads are easy to make and can be served as an appetizer at parties or events. They are commonly served with Mexican food and are typically spicy and composed of chopped tomatoes, onions, and peppers. A sauce similar to this one is made with key ingredients such as tomato, onion, herbs, garlic, avocado, and other vegetables. Dips and spreads are usually served with tortilla chips, nachos, or other crunchy appetizers. Spread is also a food that is typically spread with a knife on crackers, bread, and other similar foods and is added to dishes to improve the texture or flavor. The most popular spreads are plant-derived spreads (jellies, hummus, and jams), honey, margarine, meat-based spreads like pate, and yeast spreads like marmite and vegemite. Demand for products made from healthy and organic ingredients increased as consumers looked for healthier alternatives in dips and spreads. Brands responded by developing dips and spreads with less fat, salt, and sugar, as well as useful ingredients like plant protein, superfoods, and probiotics. The plant-based and vegan movements grew in popularity, increasing demand for organic dips and spreads. Vegan alternatives such as hummus, guacamole, and nut-based spreads have grown in popularity among consumers seeking environmentally friendly and animal-free options.
*COVID 19 Impact*
The COVID-19 pandemic has driven countries around the world to take a variety of anti-virus measures, including the shutdown of non-essential businesses, the closure of internal state borders, and other social distancing measures. Work, sports, travel, and tourism were all halted as a result of these restrictions and regulations. However, the spreads dip market scenario proved to be distinct from other industries. Consumers eating habits changed as a result of the pandemic, and they now practice healthy eating habits. Consumers were willing to try new tastes and flavors, resulting in an increase in demand for organic and natural condiments and snacking products that are healthier, delicious, and nutritious. Furthermore, the use of dips and spreads was observed. In addition, the use of dips and spreads was observed to be increasing in the household segment, as home preparation of food dishes from various cuisines was a new trend observed during COVID-19.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on* "**Global Dips and Spreads Marke**t Size, Share, and COVID-19 Impact Analysis, By Type (Salsa, Mayonnaise, Cheese, Vegetable Dips), By Packaging (Jars, Tubs/Tubes, Single-Serve Packets), By Distribution Channel (B2C, B2B), By Application (Household, Foodservice Industry), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." *
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*The cheese segment dominates the market with the largest revenue share over the forecast period*
Based on the type, the global dips and spreads market is segmented into salsa, mayonnaise, cheese, and vegetable dips. Among these, the cheese segment is dominating the market with the largest revenue share over the forecast period. Cheese is a dairy product that is made in a variety of flavors, textures, and forms by coagulating milk protein casein. The calcium and protein content of cheese are ideal for developing strong bones and muscles. Cheese is high in dairy protein, which is the same protein found in many powdered muscle-building supplements.
*The jars segment is witnessing significant CAGR growth over the forecast period.*
On the basis of packaging, the global dips and spreads market is segmented into jars, tubs/tubes, and single-serve packets. Among these, the jars segment is witnessing significant growth over the forecast period. The jar packaging significantly increases the lifespan of the food product. As a result of developments in technology, foods produced on the West Coast can now be shipped to the Deep South for consumption. Therefore, jar packaging can help to preserve the freshness and quality of food. It is vital for preventing product damage during material handling, transportation, and warehousing. By using boxes, strong plastic coverings, or containers, food products are protected from physical harm caused by vibrations and damage during transportation or distribution.
*The B2B segment is expected to hold the largest share of the global dips and spreads market during the forecast period.*
Based on the distribution channel, the global dips and spreads market is classified into B2C and B2B. Among these, the B2B segment is expected to hold the largest share of the dips and spreads market during the forecast period. Increased sales of dips and spreads to businesses such as hotels and restaurants, where such items are increasingly used in various dishes, can be attributed to B2B. Consumers, on the other hand, acquire these items less directly than businesses. Convenience stores, online retailers, and small businesses are emphasizing complex solutions like marketplace systems. The goal is to efficiently and effectively manage and regulate activities and processes. Furthermore, traditional retailers, supermarkets, and start-up companies are emphasizing digitalization, which is spurring industry growth.
*The food service segment accounted for the largest revenue over the forecast period.*
On the basis of application, the global dips and spreads market is segmented into household and food service industries. Among these, the food service segment dominates the market with the largest revenue share over the forecast period. The food service sector includes retailers, counter and table servers, and providers. All organizations, institutions, and corporations that prepare meals for people who do not live at home are considered part of the food service industry. Food services, supermarkets, school and hospital cafeterias, catering businesses, and other types are all included.
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*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global dips and spreads market Britannia Industries Limited, Walgreens Farms Pvt Ltd, AVT Gavia Foods Pvt Ltd, Greendot Health Foods Pvt Ltd, Veeba Foods, The Kraft Heinz Company, Campbell Soup Company, PepsiCo (Frito-Lay), McCormick and Company, Inc., Conagra Brands, Inc, Sandridge Food Corporation, Kraft Heinz Company, Arizona Spice Company LLC and Others.
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*Recent Market Developments*
*In April 2022, Marico Ltd., *an Indian multinational consumer goods corporation, launched Saffola Mayonnaise and Saffola Peanut Butter, expanding into the condiments and spreads area.
*Market Segment*
This study forecasts global, regional, and country revenue from 2020 to 2032. Spherical Insights has segmented the global dips and spreads market based on the below-mentioned segments:
*Dips and Spreads Market, Type Analysis*
· Salsa
· Mayonnaise
· Cheese
· Vegetable Dips
*Dips and Spreads Market, Packaging Analysis*
· Jars
· Tubs/Tubes
· Single-Serve Packets
*Dips and Spreads Market, Distribution Channel Analysis*
· B2C
· B2B
*Dips and Spreads Market, Application Analysis*
· Household
· Foodservice Industry
*Dips and Spreads* *Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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*About the Spherical Insights & Consulting*
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