According to The Brainy Insights, the vegan sauces and dressings market is expanding at a CAGR of 9.5% from 2022-2030. The growing popularity of vegan food products in the US, UK, Australia, and other countries owing to growing concerns for animal welfare and the environment is anticipated to boost the demand for vegan sauces and dips in the coming year. According to a study conducted by the Ceuta Group, Google users in Spain researched veganism and its benefits 352% more often in 2019 as compared to five years ago.
The rising incidence of food allergies among consumers has prompted them to try or shift towards vegan products. According to the Asthma and Allergy Foundation of America, around 26 million adults suffer from food allergies in the US. Further, the study revealed that a majority of food allergies came from fish, milk, wheat, eggs, and shellfish. This is likely to favor the growth of vegan sauces and dressing.
Sauces are widely used in the preparation of various dishes such as salad, pasta, sandwich, burger, etc. as it enhances the flavor and texture of the food. Furthermore, shifting consumer preference toward vegan food products including sauces & dips is likely to bode well for market growth. Moreover, the growing trend of cooking at home to maintain a healthier diet and the trend of trying new recipes shared on social media platforms, especially among millennials, are driving the demand for vegan sauces.
Manufacturers of vegan sauces and dressings are continuously launching new products with enhanced flavors and tastes to attract more customers. The key players are introducing flavors according to local tastes and preferences to gain a regional advantage among customers. Manufacturers are also heavily investing in R&D to match the consistency, and texture, and enhance the taste of vegan sauces & dressings.
With growing concerns about the environment among consumers, industry manufacturers are opting for sustainable and environment-friendly production processes. In April 2020, Follow Your Heart partnered with TerraCycle, a waste management company, to recycle its hard-to-recycle office waste. As per its sustainability plan, the company is circulating three boxes to accumulate the waste from its warehouses and offices, to collect wrappers, plastic packaging, and office supplies.