Global condiments market size is forecast to grow by USD 37.02
billion during 2019-2023 at a CAGR of 4% with table sauces segment having the
largest market share. Condiments market analysis indicates growth will be
driven by the health benefits associated with consumption of condiments.
Condiments industry growth will also be impacted by the rise in popularity of
specialty, clean-labeled, organic, and gluten-free condiments. A key factor
driving the growth of the global condiments market is the health benefits
associated with the consumption of condiments. Major sub-categories of
condiments including sauces, dressings, mustards, and pickles are frequently
being infused with healthy ingredients. The consumption of these condiments
also lowers the risk of cardiovascular diseases as they are rich sources of
lycopene containing powerful antioxidants. Similarly, the regular intake of
buckwheat honey also protects the cells from the damaging effects of free
radicals and reduces the risk of cancer and muscular degeneration. The
consumption of other condiments such as various herbs and spices also helps in
detoxifying the body by removing carcinogens and suppressing the growth of the
existing tumors. Thus, growing awareness of the several health benefits offered
by condiments will eventually drive their adoption among the end-users during
the forecast period.
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As per Technavio, the rise in popularity of specialty,
clean-labeled, organic, and gluten-free condiments will have a positive impact
on the market and contribute to its growth significantly over the forecast
period. This global condiment market
2019-2023 research report also analyzes other important trends and
market drivers that will affect market growth over 2019-2023.
Global condiments market: Rise in popularity of specialty,
clean-labeled, organic, and gluten-free condiments
Clean-labeled, organic, gluten-free condiments are gaining
popularity owing to the growing shift in preferences among the consumers owing
to growing health-consciousness. Vendors are increasingly striving toward
manufacturing condiments from natural, organic, and high-quality ingredients
for providing better-quality options to the consumers. In addition, there has
been a growing prominence of specialty condiments in the recent years.
Innovations in the specialty condiments category including the demand for
plant-based spreads, low sugar cooking sauces, and an array of authentic and
ethnic offerings such as harissa. As a result, with the launch of new products,
the growth of organic and shelf-stable condiments is likely to foster the
market growth during the next few years.
Global condiments market: Segmentation analysis
This market research report segments the global condiments
market by product (table sauces, cooking ingredients, mustard, and others) and
geographic regions (APAC, Europe, North America, South America, and MEA).
APAC led the market in 2018, followed by Europe, North America,
South America, and MEA respectively. The market growth in APAC can be
attributed to the increasing adoption of health and wellness-based condiments
among the consumers in the emerging as well as advanced economies of the
region.
Some of the key topics covered in the report include:
Market Landscape
·
Market ecosystem
·
Market characteristics
·
Market segmentation analysis
Market Sizing
·
Market definition
·
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
·
Regional comparison
·
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
·
Vendors covered
·
Vendor classification
·
Market positioning of vendors
·
Competitive scenario
