The global vegan sauces market is worth US$ 285 Million as of now and is expected to reach US$ 545 Million by the year 2033 at a CAGR of 6.7% between 2022 and 2032.
With food allergies being dominant all over, the vegan sauces market is expected to grow well in the forecast period.
The present-day scenario is such that the internet has a plethora of videos and documentaries related to consumption of vegan food in the interest of animal welfare. The other attribute could be excessive advantages offered on the part of health with minimal side-effects.
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The post-pandemic era is witnessing a greater consumption to vegan sauces as the end-consumers are preferring to bee preventive in place of curative. Vegan sauces in greater demand include vodka sauce, mayonnaise, alfredo sauce, pesto, and Worcestershire sauce. They are known for adding moisture, flavor, and visual appeal to a dish. Besides, dependence on packaged and premade sauces is increasing.
Online distribution channels are playing a vital role in propagating vegan sauces. Many offers are running on these channels regarding vegan sauces; like a different variety of vegan sauces is offered as a complementary product to the sauces asked for. The other add-on benefits include cash-back offers, and coupons.
Future Market Insights has etched these findings with insights in its latest market study entitled ‘Vegan Sauces Market’. It has its team of analysts and consultants deploying an eagle’s eye-view along macros and micros.
“The ongoing trend of veganism is driving the vegan sauces market and the scenario is expected to remain unchanged in the forecast period”, says an analyst from Future Market Insights.
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Key Takeaways from Vegan Sauces Market
- North America holds the largest market share due to majority of the populace turning vegan since the last few years. Food Allergy Canada says that nearly 3 Million people based out of Canada are reported to have atleast one food allergy (mostly from eggs). As such, there is an increasing demand for vegan eggs. This factor is expected to take the vegan sauces market by storm in the upcoming period.
- Europe holds the second-largest market share with economies like Spain, France, the UK, Germany, and Italy leading from the front. This could be attributed to allergies resulting out of consumption of meat, egg, honey, milk, and likewise.
- The Asia-Pacific is expected to grow on a good note in the vegan sauces market going forward with rising consumption of other vegan sauces (apart from tomato-based) all through.
Competitive Sauces
- Sir Kensington’s is known for creating ketchup made out of organic vinegar, sun-ripened tomatoes, and organic sugar.
- Heinz, which was known for conventional ketchup, did come up with ketchup’s vegan version in the year 2018. Nevertheless, it did market it as a more sustainable and a healthier alternative to the conventional one.
- Primal Kitchen (known for vegan sauces and condiments) has entered into partnership with Whole Foods and Amazon for increasing its products’ availability in more number of locations.
- The Honest Stand does source ingredients from organic and sustainable farms and makes use of eco-friendly packaging.
- Follow Your Heart, in October 2021, did launch Dairy-free Bleu Cheese Crumbles after successful ‘Dairy-Free Feta Crumbles’ (launched in 2020). This product has been advertised to be good for crostini, salads, or even on sprinkling over pizza.
- Daiya Foods Inc., in July 2021, tabled an e-Commerce site for direct access to the plant-based food line. The player is amongst the well-known dairy-free cheese manufacturers in Canada and the US.
- Michelin chefs Eoin Lennon and Gavin Cassidy, in March 2020, started ‘Porter & Nash’ with initial investment of EUR 55,000. It offers a fat-free, gluten-free sauce called kombu seaweed-based vegan sauce.
What does the Report enclose?
- The research study is based on product type (tomato-based, mustard-based, BBQ, hot sauces, and likewise), and by distribution channel (supermarkets, health food stores, online retailers, and likewise).
- With rising demand for plant-based alternatives, the global vegan sauces market is likely to grow on an astonishing note going forward.
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Key Segments
By Product Type:
- Tomato-based
- Mustard-based
- BBQ
- Hot sauces
- Others
By Distribution Channel:
- Supermarkets
- Health food stores
- Online retailers
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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