Mayonnaise Market Worldwide Scope, Industry Share and Forecast to 2024
Research Reports
Jan 18, 2021
Market Overview
Mayonnaise is usually made from oil, egg yolks, vinegar, and seasonings. However, from the last few years, mayonnaise is made from eggless ingredients since it is preferred by vegan and allergic to egg population. Egg-free mayonnaise contains soy or pea protein instead of lecithin in egg yolk. Rising demand for mayonnaise due to fast food and ready to eat foods is driving the growth of the mayonnaise from last few years across the globe. Application of mayonnaise for salad dressing and processed food is increasing at a significant rate, especially, in developed countries.
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Egg-free alternatives are also available for vegans and those allergic to eggs, which has increased the consumption of mayonnaise in the global market. Improving distribution network of mayonnaise manufacturers is influencing the sales of mayonnaise across the globe. However, intense competition among the key players may hamper the new entrants in the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.3% of mayonnaise market during the forecast period 2020-2024.
Major Key Players Analysis
Some of the key players profiled in the global Mayonnaise Market are Delicacy Foods (Cyprus), Unilever (U.K.), Marina Foods, Inc. (U.S.), ADM Antwerp (Belgium), Solo Foods (South Africa), Paradise Food Ltd (U.K.) and AR Brands (South Africa)
Industry Segments
Mayonnaise market is segmented on the basis of raw material such as egg, eggless, and others. Mayonnaise made from eggs is dominating the market whereas, mayonnaise made from eggless raw material is expected to grow at a substantial rate.
On the basis of specialty food type, the mayonnaise market is segmented into gluten-free, kosher, organic, vegan, GMO- free, and others. Growing inclination of consumers towards plant-based products is boosting the demand for organic mayonnaise segment.
Based on the packaging, mayonnaise market is segmented into bottles, sachets, jar, and others. Among all, bottles packaging is dominating the market, whereas sachets are expected to grow at a higher rate in the coming years.
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