Authored By: Sarah
11 Jul 2024

 Dips and Spreads Market Size to grow by USD 29.85 billion between 2024-2028

According to a research report “ Dips and Spreads Market” by Distribution Channel (Offline, Online) End-user (Foodservice industry, Household) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 29.85 billion, at a CAGR of  5.82% during the forecast period. The global dips and spreads market is experiencing significant growth due to the increasing influence of ethnic and international cuisines on consumer preferences. As globalization continues to bridge cultural divides, there is a heightened demand for authentic and exotic flavors from various culinary traditions. This trend is driving the expansion of the market, with consumers eager to experiment with dips and spreads inspired by Mediterranean, Middle Eastern, Latin American, Asian, and African cuisines. The exploration of multiculturalism and global cuisines is propelling the market forward, resulting in a diverse range of offerings that cater to specific regional tastes. Consumers' appreciation for the richness and complexity of ethnic foods is fueling innovation and growth within the dips and spreads sector.

Browse market data tables, figures, and in-depth TOC on “Dips and Spreads Market” by Distribution Channel (Offline, Online) End-user (Foodservice industry, Household) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

The global dips and spreads market holds significant significance for the food service industry, which encompasses a diverse range of establishments serving prepared meals, snacks, and beverages. Key end-users in this sector include restaurants and cafes, catering services, hotels, and resorts. Dips and spreads play essential roles in these businesses, functioning as accompaniments, condiments, or ingredients in various dishes, thereby enhancing flavors and dining experiences. Fast-food chains, fine dining establishments, and casual eateries all integrate these products into their menus, catering to a broad spectrum of consumer preferences. Catering services leverage dips and spreads for events, parties, and gatherings, offering versatility and convenience. Hotels and resorts utilize these items in their breakfast buffets, room service offerings, and banquet menus, ensuring a diverse assortment of options for their guests.

By End-user, Foodservice industry  segment is expected to hold the largest market size for the year 2024

Offline distribution channels play a crucial role in the global dips and spreads market, providing extensive reach and accessibility to consumers. Retail stores, such as supermarkets, hypermarkets, and grocery outlets, serve as primary distribution channels, offering a vast selection of brands, flavors, and packaging sizes. Specialty food stores cater to discerning consumers, stocking curated assortments of gourmet and health-conscious dips and spreads. These channels collectively address diverse consumer preferences and market segments, ensuring the widespread availability and convenience of these products.

APAC is forecasted to hold the largest market size by region in 2024

The APAC region's dips and spreads market is experiencing robust growth and diversification, driven by evolving consumer preferences, urbanization, and increasing disposable incomes. Countries such as China, India, Japan, South Korea, and Southeast Asian nations including Bangladesh, India, and Sri Lanka, are witnessing a significant surge in the consumption of convenience foods and snacks. This trend is fueling the demand for dips and spreads as convenient and flavor-enhancing accompaniments. Urbanization and changing lifestyles have led to the increased adoption of ready-to-eat options, further boosting market expansion. Key factors contributing to this growth include the burgeoning food service industry and the region's large and growing population.

The Dips and Spreads Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Andros Group
  • Arizona Spice Company LLC
  • AVT Gavia Foods Pvt. Ltd
  • Campbell Soup Co.
  • Conagra Brands Inc.
  • Cornitos
  • Del Monte Pacific Ltd.
  • Dr. August Oetker KG
  • Euro American Brands LLC
  • Ferrero International S.A.
  • Hormel Foods Corp.
  • McCormick and Co. Inc.
  • PepsiCo Inc.
  • Renfro Foods
  • Sandridge Crafted Foods
  • The Hershey Co.
  • The Kraft Heinz Co.
  • VRB CONSUMER PRODUCTS Pvt. Ltd.
  • Wingreens Farms Pvt. Ltd.
  • Yihai International Holding Ltd
.

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Research Analysis Overview

The Dips and Spreads market has witnessed significant growth in recent years, driven by various factors such as the vegan movement, increasing demand for plant-based and natural food options, and the popularity of snack foods and appetizers in restaurants and at home. Nut-based spreads, thick sauces, and dips have gained popularity as alternatives to traditional dips like mayonnaise and sour cream. Restaurants and foodservice outlets have embraced this trend, offering a wide range of dips and spreads with Mexican food leading the way with guacamole, salsa, and queso dip. Seafood dips and spreads also remain popular, especially for upscale events and fine dining establishments. Crackers, pita bread, nachos, and dumplings are common carriers for these dips and spreads, providing a textured and flavorful base for consumers to enjoy. Established brands continue to dominate the market, but new players are entering the scene with innovative product offerings and unique flavors. The supply chain for dips and spreads involves careful consideration of raw materials and food safety, ensuring product quality and taste are maintained throughout the production process. Consumer attention to product labels and ingredients continues to grow, making transparency and sustainability key factors for brands looking to succeed in this market.

Market Research Overview

Title: Dips and Spreads Market: Trends, Growth, and Opportunities in the Food Service and Household Segments The dips and spreads market is witnessing significant growth, driven by the food service segment and the increasing popularity of vegetable dips, nut-based spreads, and sauces. Urbanization and changing eating habits, particularly in urban areas, are major influencers. Flavor enhancers and exotic condiments like Cholula hot sauce, Romeso dip, Cannellini bean dip, and Tzatziki dip are gaining popularity. The cheese segment, including cheese spreads and dips, also contributes to the market's growth. However, vegan movements and the demand for plant-based, natural spreads are altering the market landscape. Sales in the household segment are increasing as consumers cook at home more, using dips and spreads as side dishes or salad dressings. The D2C (Direct-to-Consumer) and B2B channels, including restaurants and foodservice industry, dominate the market. However, the online retail segment is growing, with single-serve packets, tubs/tubes, jars, and gourmet or artisanal products driving sales. Price points, input costs, and shelf life are key buying decisions for consumers, who increasingly demand nutritious quality and natural ingredients. Thick sauces, tomato-based dips, and room temperature dips require proper storage and refrigeration for optimal taste and shelf life. New flavors, such as peri peri, chimichurri, gochujang, and vegemite/marmite, are driving market demand. Ingredients like unhealthy fats, sugar, and salt are being replaced with nutritious, plant-derived alternatives. The market is influenced by established brands and consumer attention, with product offerings focusing on unrivaled flavors, texture, and nutritional value.

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Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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