Frequently Asked Questions
The global plant based spreads market was valued at USD 0.6 Billion in 2022.
The plant based spreads market is expected to grow at a CAGR of 5.8% between 2023 and 2030, reaching USD 0.8 Billion in 2030.
Nut butter is the leading segment by type, holding over 75% share in value in 2022.
Nuts govern the global demand for plant based spreads, holding a massive share of over 30% in 2022.
The hypermarket and supermarket segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the plant based spreads industry, with an over one-third share in 2022.
The top players include Follow Your Heart, DAIYA FOODS INC., Meridian Group., Amy’s Kitchen, Inc., and B&G Foods, Inc.
The major market drivers are increasing consumer awareness and concern for health and wellness, a rise in the vegan and vegetarian population, and growing demand for healthier and sustainable food options.
Higher cost compared to traditional spreads and perception of plant-based spreads having different taste and texture are the major market restraints.
Expansion into new geographical regions and emerging markets, product diversification to cater to various dietary preferences and restrictions, and innovation in flavors, ingredients, and packaging formats.