Mayonnaise Market Share, Global Overview, Business Prospect, Covid-19 Analysis, Future Growth and Forecast to 2024
Mayonnaise Market Global Research Report by Type (Egg Mayonnaise and Eggless Mayonnaise), Category (Flavoured and Plain), Packaging Type
pune, India – June 18, 2020 /MarketersMedia/ —
Market Dynamics
Global Mayonnaise Market is estimated to account for USD 13.5 billion, with a CAGR of 4.3% from 2020 to 2024 (forecast period). The report covers COVID-19 impact on the global mayonnaise market and provides an extensive analysis of market segments, market trends, growth projections, and market challenges to identify the prevailing market opportunities.
Mayonnaise is a thick, creamy condiment or dressing made from oil, egg yolk, acid (lemon or vinegar), and seasonings. It is used mainly in the preparation of salads, sandwiches, burgers, and dips. Mayonnaise is available as egg mayonnaise and eggless. Many players have recently launched eggless mayonnaise, based on current trends and demand for vegan products. Factors such as growing urbanization, rising disposable incomes, and burgeoning fast-food chains have resulted in changing lifestyles and changing consumer eating patterns. There is currently a strong preference for inexpensive, convenient, and on-the-go food choices that require minimal cooking. This has created multiple lucrative opportunities for manufacturers.
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Various kinds of mayonnaise are available on the market, offering a wide variety of flavors that are unique to consumers. These include multiple flavors such as cheese, mint, tangy pickle, chipotle, tandoori, etc., as well as low-fat and no fat mayonnaise that can appeal to the taste and needs of a wide variety of customers. Previously, the use of mayonnaise was mainly limited to western countries. However, the consumption of mayonnaise in developing countries has increased due to the confluence of the increasing trend of westernization of food patterns and the acceptance of different cuisines along with the burgeoning middle-class population. The growth of the organized retail sector has had a positive impact on the global market for mayonnaise. Earlier, several global players were reluctant to sell their products in developing nations due to insufficient resources, storage facilities, and sufficient awareness of emerging markets. Nevertheless, increasing number of organized retail stores, different players are investing in these markets. This is expected to result in increased consumption of mayonnaise over the next few years.
Key Players
Some of the major participants in the Global Mayonnaise Market are Nestle S.A. (Switzerland), Unilever PLC (UK), ADM Antwerp (Belgium), Ajinomoto Co., Inc. (Japan), Kraft Heinz Company (US), McCormick & Company, Inc. (US), Marina Foods, Inc. (US), Archer Daniels Midland Company (ADM Antwerp NV) (US), Delicacy Foods (Cyprus), Paradise Food Ltd (UK), Solo Foods (South Africa), AR Brands (South Africa), American Garden Products Inc. (US), Dr. Oetker GmbH (Germany), and Del Monte Foods Inc. (US)
Segmentation
Global Mayonnaise Market has been segmented based on type, category, packaging type, and distribution channel
By type, the global market for mayonnaise has been bifurcated into egg mayonnaise and eggless mayonnaise.
By category, the global market for mayonnaise has been bifurcated into flavored and plain.
Based on packaging type, the global market for mayonnaise has been classified as bottles, pouches, and others.
Based on the distribution channel, the global market for mayonnaise has been classified as store-based and non-store-based. The segment for store-based has been further classified as hypermarkets & supermarkets, convenience stores, and others.
Regional Analysis
The global mayonnaise market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Europe is predicted to dominate the global mayonnaise market during the forecast period. Increased demand for mayonnaise as dressing salads and an increase in ready-to-eat consumption have resulted in increased demand for mayonnaise in Europe.
The market in Asia Pacific is expected to grow faster during the forecast period due to the growing trend in the westernization of food patterns and the acceptance of different cuisines.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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