How Are Sustainability and Clean Label Trends Affecting the Condiments Market?
Condiments Market Overview:
Condiments are the spices used as flavor enhancers that enhance the overall organoleptic properties of food preparations. Market Research Future (MRFR) has published a research report about the global condiments market that predicts growth for this market between 2024 and 2032.
Condiments Market Size was estimated at USD 9.2 billion in 2023. The condiments industry is projected to expand from USD 9.6 billion in 2024 upto USD 13.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2024 - 2032).
The major factor in helping the growth of the global condiments market is increased demand for dips, sauces, spices, & others. Other factors include growing demand for condiments in the food & beverage industry, new product launches due to research and development (R&D) investments, and the convenience packed food products.
Key Players:
The global Condiments Market Companies include ConAgra Food Inc. (USA), General Mills Inc. (USA), Hormel Foods Corporation (USA), Kraft Foods Inc. (USA), Mars Incorporated (USA), Nestlé S.A. (Switzerland), The Kroger Company (USA), and Unilever PLC (UK).
Segmentations:
The global condiments market has been segmented into the distribution channel, packaging material, type, and lastly, region. Based on the distribution channel, this market has been segmented into store-based distribution and non-store-based distribution. Store-based distribution channels hold the major market share. However, due to technological advancement and rising internet facilities, e-commerce distribution is also rising. Regarding packaging material, the market has been segmented into glass, paper, plastics, and others. Among these segments, the plastic segment holds the maximum market share due to its convenient packaging and convenience product usage property. Glass packaging also holds a significant share. By type, this market has been segmented into dressings, sauces & ketchup, spices, and others.
Regional Analysis:
The regional segmentation of the global Condiments Industry segments the global market into regional markets namely North America, Asia Pacific, Europe, and rest of the world (RoW). North America is the largest regional market. In this region, especially in the USA, the demand for condiments is very high from the “on-the-go” food products’ manufacturers. After the USA, Canada and Mexico are the most important country-specific markets in this region.
The Asia Pacific is the second most important regional market. In this region, the market is growing due to increased consumption of dips, sauces, and ketchup in China, India, and Japan. The high density of population in China and India makes them lucrative markets. Another significant country-specific market in this region is Australia, followed by the remaining countries of the Asia Pacific region.
Europe is the fastest growing regional market due to the increasing demand for condiments as an additive in foods. The major regional markets in this region are France, Germany, and Italy. Other important regional markets are Spain and the UK, followed by the remaining countries of Europe.
In the RoW segment, the crucial country-specific markets that have been covered in the study are Argentina (South America), Brazil (South America), and South Africa (Africa), followed by the remaining countries in the world.
Latest Industry News:
• Kraft Heinz has signed an agreement to acquire US condiments, and sauces brand Primal Kitchen for approximately $200 mn. 30 NOV 2018
• Yellowbird Sauce is set to release their latest line of 100% organic, no-added-sugar version of spicy condiments at Amazon online retail store, their official website, and on Whole Foods Markets in March 2019. 3 DEC 2018
• The Eastport-South Manor Central School District is limiting the students at one to two packets of condiment, per child, depending upon the meal they purchase. 27 NOV 2018
• At the Connected Community HackerSpace in Melbourne, the innovative SauceBot has been introduced. Built entirely from laser-cut acrylic that can be seen in printers, SauceBot features twin peristaltic pumps for extruding the ketchup and mustard. 29 NOV 2018
• McCormick & Co. Inc. is expanding its sponsorship with the Baltimore Ravens with a new deal. As per the new deal, McCormick & Co. Inc. will be the exclusive condiment provider at M&T Bank Stadium. 18 OCT 2018
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