Latin America Vegan Sauces, Dressings & Spreads Market Size & Outlook
Latin America vegan sauces, dressings & spreads market, 2016-2027 (US$M)
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Latin America vegan sauces, dressings & spreads market highlights
- The Latin America vegan sauces, dressings & spreads market generated a revenue of USD 12.4 million in 2019.
- The market is expected to grow at a CAGR of 9.8% from 2020 to 2027.
- In terms of segment, sauces was the largest revenue generating product in 2019.
- Dressings is the most lucrative product segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2019 | USD 12.4 million |
| Market revenue in 2027 | USD 26.2 million |
| Growth rate | 9.8% (CAGR from 2019 to 2027) |
| Largest segment | Sauces |
| Fastest growing segment | Dressings |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Spreads, Dressings, Sauces |
| Key market players worldwide | Danone SA, Otsuka Pharmaceutical, Unilever PLC, B&G Foods, Meridian Foods, Amy's Kitchen, Litehouse, Majestic Garlic, Tyner Pond Farm |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.4% of the global vegan sauces, dressings & spreads market in 2019.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2027.
- North America is the fastest growing regional market and is projected to reach USD 121.3 million by 2027.
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Vegan Sauces, Dressings & Spreads Market Scope
Vegan Sauces, Dressings & Spreads Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America vegan sauces, dressings & spreads market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vegan sauces, dressings & spreads market will help companies and investors design strategic landscapes.
Sauces was the largest segment with a revenue share of 45.97% in 2019. Horizon Databook has segmented the Latin America vegan sauces, dressings & spreads market based on spreads, dressings, sauces covering the revenue growth of each sub-segment from 2016 to 2027.
Brazil, Argentina, and Costa Rica are some of the leading markets for vegan sauces, dressings & spreads in the region and are expected to witness steady growth in the coming years. Growing concerns over animal welfare and rising health restrictions are some of the major factors driving the consumption of vegan products in the region.
According to a survey conducted by Snapcart and The Good Food Institute in Brazil, 59% of the respondents cited health concerns as a reason for reducing their consumption of meat products in 2018. This could provide a significant opportunity to vegan products manufacturers in the near future.
Dressings are projected to exhibit the fastest CAGR of 10.4% over the forecast period owing to rising consumer preference for international cuisines. Moreover, an increasing number of consumers are trying to prepare restaurant-style dishes at home and this is anticipated to boost the demand for various dressings in the region.
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Target buyers of Latin America vegan sauces, dressings & spreads market databook
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Our clientele includes a mix of vegan sauces, dressings & spreads market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America vegan sauces, dressings & spreads market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America vegan sauces, dressings & spreads market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Latin America vegan sauces, dressings & spreads market
Latin America Vegan Sauces, Dressings & Spreads Market Outlook Share, 2019 & 2027 (US$M)
Latin America vegan sauces, dressings & spreads market
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