DUBAI, United Arab Emirates, Jan. 29, 2023 (GLOBE NEWSWIRE) -- In the present year 2023, the total value of the global vegan salad dressing market is around US$ 154.9 Mn. According to the study report published by FMI, a CAGR of 7.5% is forecast to be registered by the market from 2023 to 2033. By the year 2033, the vegan salad dressing market's entire value is anticipated to have reached US$ 296.3 Mn.
In the global vegan salad dressing market, the popularity of meat alternative salad dressings is anticipated to rise at a higher rate. Consumers are more strongly impacted by its nutritional and health advantages than by their changing food preferences and eating habits.
Customers here are now searching for more creative, nutritious foods to eat on a regular basis. Such progressions have generated a lucrative opportunity for all types of food, beverages, and food ingredient, including vegan salad dressing manufacturers. Other drivers like environmental protection, animal rights, and so forth, are secondary factors that have also strengthened the vegan salad dressing market to some degree.
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Key Takeaways from the Vegan Salad Dressing Market Study Report
- The market report records the total sales of vegan salad dressing in the United States to be around US$ 37.7 Mn in 2022. This amount is about 26.2% of the total revenue generated by the market globally in the previous year making it the leading market.
- The overall sales of vegan salad dressing in Germany were figured out to be around US$ 27 Mn in the year 2022. This makes it the second top region in the demand for vegan salad dressing and the dominant market in the European region.
- In the preceding year, the net worth of the vegan salad dressing business in China was around US$ 12.79 Mn. As per the market analysis report, this regional market is projected to grow at an annual rate of 6.3% during the forecast years
- While Japan is the second most important market for the Asia Pacific vegan salad dressing market players. The total valuation of the Japanese market was about US$ 7.3 Mn in the previous year and acquired 5.1% of the global market.
- As per the reports, Australia recorded overall vegan salad dressing sales of US$ 4.5 Mn which is about 5.1% of the global revenue in 2022.
- Among the different types of vegan salad dressing available in the market, the ranch dressing product is the most popular segment with a 45.6% market share.
- Store-based retailing is observed to be the most successful distribution channel for all types of vegan salad dressing products and brands. In comparison to the online sales channel, this segment acquires a share of almost 35.6% of the total sales in the international market.
Competitive Landscape for the Vegan Salad Dressing Market
Cleveland Kitchen, Brick House, Garlic Expressions, Virginia, Happy Belly, Primal Kitchen, Annie's Homegrown, Yo Mama’s Foods, Unilever Plc, Mizkan Holdings, The Kraft Heinz Company, Veeba Food Services, and Kewpie Corp. among others are some of the major players in the global vegan salad dressing market.
Given the presence of several local and foreign companies, the global market for vegan salad dressing is a highly competitive one. The most popular technique used by the top vegan salad dressing companies is brand marketing and spreading awareness about plant-based alternatives. mergers and acquisitions also allow the regional vegan salad dressing to penetrate new markets and expand quickly. Product innovation is another important approach adopted by many key players to improve their brand value.
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Key Segments
By Product Type:
- Vegan Mayonnaise
- Ranch Dressing
- Oil Based Dressing
- Ketchup
- Chili Sauce
- Mustard Sauce
- Gourmet Salt
- Others
By Application:
- Specialty Stores
- Convenience Stores
- Online Retailers
- Supermarkets or Hypermarkets
- Others
By End User:
- Food Services Sector
- Hotel and Restaurants
- Household
- Others
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Table of Content
1. Executive Summary | Vegan Salad Dressing Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s Extensive Coverage in Food & Beverage Domain:
Organic Salad Dressing Market Size: The organic salad dressing market will exhibit a CAGR of 5.4% by 2030
Vegan Pasta Market Share: As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 416.7 Mn by 2032, rising at a CAGR of 9% for 2022-32.
Vegan Fast Food Market Demand: Global vegan fast food market is expected to be valued at US$ 18829.5 Mn in 2023 and to reach a valuation of US$ 27980.2 Mn by 2033.
Salad Oil Market Value: The global salad oil market is anticipated to garner a revenue of about US$ 348 billion by 2032
Vegan Flavor Market Growth: The vegan flavor market size is estimated to be valued at US$ 8.7 Bn in 2022 and is projected to grow at a CAGR of 6.4% during the forecast period, to reach a value of US$ 16.3 Bn by 2032.
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