Dips and Spreads Market Size - By Product (Hummus, Guacamole, Salsa, Cheese Spreads, Vegetable Dips), By Packaging (Jars, Tubs/Tubes, Single-Serve Packets), By Distribution Channel (Retail Stores, Online Retail, Foodservice) & Global Forecast, 2023 - 2032

Dips and Spreads Market Size - By Product (Hummus, Guacamole, Salsa, Cheese Spreads, Vegetable Dips), By Packaging (Jars, Tubs/Tubes, Single-Serve Packets), By Distribution Channel (Retail Stores, Online Retail, Foodservice) & Global Forecast, 2023 - 2032

Dips and Spreads Market size is anticipated to depict 5.4% CAGR from 2023 to 2032, driven by the rising popularity of different cuisines across the globe. With consumers increasingly exploring diverse culinary traditions, the demand for complementary dips and spreads that offer authentic flavors and pairings has significantly grown.

Furthermore, the surging interest in plant-based and vegan diets has escalated the demand for plant-based dips and spreads. To that end, several manufacturers are developing innovative, cruelty-free options to mimic the taste and texture of traditional counterparts to match the rising requirements of the vegans and flexitarian population. For instance, in May 2023, Squeaky Bean, a plant-based food company, launched three new vegan dips in convenient pots.

The overall dips and spreads market is bifurcated in terms of product, packaging, distribution channel, and region.

With respect to product, the industry value from the cheese spreads segment is likely to gain significant traction between 2023 and 2032. The versatility of cheese spreads in complementing variety of foods has contributed to their higher popularity. The growing emphasis of consumers on seeking convenient and indulgent snacking options has also led to innovations with new flavors and healthier formulations to meet evolving dietary preferences.

Based on packaging, the dips and spreads market size from the single-serve packets segment is estimated to witness high demand through 2032. The demand for convenient and portion-controlled packets is gaining traction as they offer consumers on-the-go and at-home snacking options that are both practical and hygienic whilst reducing food waste and enhancing product shelf-life. Additionally, the surging popularity of wide range of dips, sauces, and spreads in restaurants, fast-food chains, and retail stores will supplement the segment growth.

Asia Pacific held sizable share of the dips and spreads market in 2022 and is set to exhibit robust growth rate through 2032 due to shifting consumer preferences and the burgeoning middle-class population. The rising rate of globalization has led to the introduction of diverse international flavors and products, leading to the surging popularity of exotic and fusion dips and spreads. For instance, in May 2023, House of Hummus established a new online delivery service in Hong Kong for delivering fresh Israeli (or Middle Eastern) dips, hummus, and baked bread to doors every morning.