Condiments Market size to grow by USD 13.8 billion from 2022 to 2030: Growth driven by health benefits associated with the consumption of condiments.
Research Reports
Jul 12, 2023
Condiments Market Overview:
According to MRFR analysis, the global condiments market is expected to register a CAGR of ~5.20% from 2022 to 2030 and hold a value of over USD 13.8 billion by 2030.
The Condiments Market encompasses the production, distribution, and consumption of a wide range of food seasonings, sauces, and accompaniments that enhance the flavor and taste of meals. It includes popular products like ketchup, mayonnaise, mustard, salsa, soy sauce, barbecue sauce, salad dressings, and spice blends. The COVID-19 pandemic has had a significant impact on the condiments market globally. Firstly, changes in consumer behavior during lockdowns and restrictions have led to increased home cooking and reduced dining-out experiences. As a result, consumers have shown a greater inclination towards purchasing condiments to enhance the flavor of their homemade meals. Secondly, the foodservice industry, including restaurants and cafes, has been severely affected by the pandemic. Reduced footfall and temporary closures have resulted in lower demand for condiments in the foodservice sector. However, the growth of takeout and food delivery services has partially offset this decline, as condiments are often included with these orders. Thirdly, the pandemic has influenced the demand for specific condiments. For instance, products such as ketchup and mayonnaise have witnessed increased sales due to their versatile use in homemade meals and as accompaniments for sandwiches and burgers. On the other hand, condiments associated with specific cuisines or dining-out experiences, such as soy sauce and specialty dressings, have experienced a temporary decline in demand due to reduced restaurant consumption.
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Top Key Players:
Some of the market key players are Nutri-Asia Inc. (Philippines), Del Monte Foods Inc (US), Three Threes Condiments Pty Limited (Australia), Incorporated (US), Midas Foods International (US), Sing Cheung Co.(India), McCormick & Company (US), ConAgra Food Inc. (US), The Kroger Co. (US), Nestlé (Switzerland), Mars, Kikkoman Corporation (Japan), Kraft Foods Inc. (US), General Mills Inc. (US), Unilever (UK) and Hormel Foods Corporation (US).
Market Segmentation:
The Global Acupuncture market has been segmented into type, Packaging Type, Distribution Channel.
Based on Type: Spices, Sauces & Ketchup, Dressings and Others
Based on Packaging Type: Bottles, Pouches & Sachets and Others
Based on Distribution Channel: Store-Based and Non-Store-Based
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Regional Analysis:
In terms of regional analysis, the impact of the pandemic on the condiments market has varied across different regions. Developed markets like North America and Europe have seen a surge in retail sales of condiments as consumers cook more at home. In contrast, emerging markets in Asia and Latin America have experienced a mixed impact, with reduced restaurant consumption offset by increased demand for home cooking and takeaway options.
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