Plant-based Spreads Market: By Type of Spreads (Lard, Margarine, Nut Butters, Legume-based spreads, Veggie Pates, Pestos, Guacamole, Hummus, Plant-based Cream Cheese, Plant-based Herring Salad, Jam, and Others), By Source (Pulses, Vegetables, Oils, Nuts, Seeds, and Grains), By Flavours (Garlic, Coconut, Paprika, French Onion, Avocado, and Others), By Distribution Channel (Hypermarket and Supermarket, Convenience Store, Specialty Store, and Online), and Geography

Plant-Based Spreads Market size was valued at USD 695.6 million in 2023 and is poised to grow at 5.4% CAGR from 2024-2030. Spreads are generally known to be thick in nature because it contains fats, healthy vegetable oil, and butter. Spreads are added to food including bakery bread and crackers. Spreads are becoming the product in trend for bread during breakfast time. Plant-based spreads, which are also known as butter replacements exclude the conventional dairy butter that comes from fresh milk or cream. As an alternative, a comparable procedure is followed, but with vegetable, coconut, or sunflower oils that are utilized instead of animal-based butterfat. Major factors that are expected to boost the growth of the plant-based spreads market in the forecast period are the increase in the consumption of plant-based spreads. Furthermore, the consumption of animal products and their effect on animals, the environment, and health is further anticipated to propel the growth of the plant-based spreads market.

Moreover, the rise in the alertness regarding organic plant-based spreads amongst consumers is further estimated to cushion the growth of the plant-based spreads market. On the other hand, the plant-based spreads and dips like the animal-based versions can be very high in fat and salt which is further projected to enhance the growth of the plant-based spreads market in the forecasted period. The plant-based spreads and dips market trends suggest that there has been a rising prevalence of lactose intolerance. These prominent factors are responsible for propelling the demand for plant-based sauces, dressings, and spreads around the globe. According to the data that has been provided by the ‘Food Intolerance Network’, around 70% of the global population was suffering from lactose intolerance during the historic forecast period that had in 2019. The increasing degree of prevalence of allergies and intolerance among adults as well as children is fuelling the demand for plant-based sauces, dressings, and spreads at the global level. Geographically, North America held the major market share in 2023 and is expected to dominate the global plant-based spreads market in the forecasted years.

Plant-Based Spreads Market Key Developments:

• In February 2020, Sacla Italia, an Italian pesto and pasta sauce brand, launched a new line of vegan dressings. The global company had reported having introduced six different flavors of vegan sauces in the U.K. market. Thus, the market share is anticipated to grow at an impactful rate during the forecast period that will be ending in 2028.
• In July 2021, Daiya Foods Inc. launched an e-commerce site for easy access to its entire plant-based food line. The company is among the most renowned dairy-free cheese manufacturers in the United States and Canada.
• In October 2021, Follow Your Heart launched Dairy-Free Bleu Cheese Crumbles, the company's second product in its new plant-based cheese line, following the successful Dairy-Free Feta Crumbles, which were launched the previous year.