Global Condiments Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Condiments Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Condiments market report, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global condiments market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
Condiments are various flavorful substances or ingredients used to enhance the taste, texture, and overall enjoyment of food. They are added to dishes in small quantities to provide extra flavor, tanginess, sweetness, spiciness, or other desired attributes. Condiments can be available in various forms, including sauces, spreads, powders, and liquids. They play a crucial role in diversifying flavors and enhancing the culinary experience. They allow individuals to tailor their meals according to personal preferences, which adds layers of taste and complexity to different dishes.
Global Condiments Market Trends and Drivers:
The establishment of commercial spaces, such as cafes, restaurants, and quick-service restaurants (QSRs), represents one of the major factors driving the use of condiments in french fries, pizza, burgers, hot dogs, and noodles around the world. Moreover, the emerging trend of gourmet restaurants and luxury hotels is catalyzing the demand for premium-quality condiments around the world. In addition, the rising popularity of fast-food products, especially among the millennial population, and the burgeoning food and beverage (F&B) industry is favoring the growth of the market. Apart from this, the easy availability of condiments in innovative packaging solutions with attractive labels via e-commerce channels that offer a wide catalog, free delivery, and remarkable offers is propelling the growth of the market.
Global Condiments Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Conagra Brands Inc., Del Monte Foods Inc., General Mills Inc., Hormel Foods Corporation, Kewpie Corporation, Kikkoman Corporation, Mars Incorporated, McCormick & Company Inc., Nestlé S.A., The Kraft Heinz Company, The Kroger Company and Unilever PLC
The report segmented the market on the basis of region, type, packaging type and distribution channel.
Breakup by Type:
- Sauces and Ketchup
Breakup by Packaging Type:
- Pouches and Sachets
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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