Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global mayonnaise market was worth around US$ 10.3 Billion in 2018. The market is further projected to reach US$ 13.2 Billion by 2024, growing at a CAGR of 4.1% during the year 2019-2024. Mayonnaise refers to a thick and creamy sauce which is conventionally prepared using egg yolks, oil, vinegar or lemon juice, and seasonings. It is an emulsion which is produced by slowly adding one ingredient to another, simultaneously stirring the mixture. Nowadays, mayonnaise is considered as a popular condiment which is used as a spread for sandwiches or burgers, dips for snacks, and base for tacos or rolls. Apart from this, it is used as a base for making other sauces, like tartar sauce and thousand-island salad dressing. Mayonnaise also offers several health-benefits which include lowering of cholesterol levels, assisting in nutrient absorption, and improving the heart health, if consumed in moderation.
Global Mayonnaise Market Drivers/Constraints:
Factors such as growing urbanisation, increasing disposable incomes and thriving fast-food chains have resulted in the changing lifestyles and altering eating patterns of the consumers. Presently, there is a high preference for affordable, convenient and on-the-go meal options which require minimal cooking. This has created numerous remunerative opportunities for the manufacturers.
Currently, there are different types of mayonnaise available in the market, which offers a large variety and unique flavours for the consumers. These include multiple flavours like cheese, mint, tangy pickle, chipotle, tandoori, etc., and also low-fat and no fat mayonnaise which can cater to the taste and preferences of a large number of consumers.
Developing regions are expected to drive the global mayonnaise market in the upcoming years. Earlier, the consumption of mayonnaise was largely confined to the western countries. However, with the confluence of increasing trend of westernisation of food patterns and acceptance of different cuisines along with burgeoning middle-class population, the consumption of mayonnaise in developing countries has risen.
The growth of the organised retail sector is witnessing a positive impact on the global mayonnaise market. Earlier, a number of global players were hesitant to sell their products in developing countries due to lack of infrastructure, storage facilities and appropriate knowledge about the developing markets. Nevertheless, with an increase in the number of organised retail stores, various players are investing in these markets. This is expected to eventually result in the increased consumption of mayonnaise in the next few years.
Breakup by Product Type:
On the basis of type, the market is segregated as unflavoured mayonnaise and flavoured mayonnaise. Currently, unflavoured mayonnaise accounts for the majority of the market share as it is excessively used in the preparation of dishes like salads, pasta, dips, etc. It is also regarded as a good source of proteins, calories, fats, vitamins and carbohydrates.
Breakup by End-Use:
Based on end-use, the report finds that institutional sales currently dominate in the global mayonnaise market and is followed by the retail sale.
Breakup by Distribution Channel:
On the basis of distribution channel, supermarkets and hypermarkets represent the biggest segment on account of the convenience and rising trend of supermarket shopping culture. Supermarkets and hypermarkets are followed by convenience stores, online retailers, specialty stores and others.
On a geographical front, North America enjoys a leading position in the global mayonnaise market on account of extreme popularity of fast-food and snacking items, specifically in the United States and Canada, where consumers dine-out on an everyday basis. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
The market is concentrated in nature with the presence of only few manufacturers who are competing in terms of prices and quality. Nonetheless, in the emerging regions like India and China, there exists various unorganised manufacturers of mayonnaise. There prevails a rigid competition in the market which makes it difficult for small players to enter. Some of the major players functioning in the market include:
This report provides a deep insight into the global mayonnaise market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the mayonnaise industry in any manner.
Key Questions Answered in This Report:
How has the global mayonnaise market performed so far and how will it perform in the coming years?
What are the key regions in the global mayonnaise market?
Which are the popular product types in the global mayonnaise market?
What are the key distribution channels in the global mayonnaise market?
What are the major end-use sectors in the global mayonnaise market?
What are the various stages in the value chain of the global mayonnaise market?
What are the key driving factors and challenges in the global mayonnaise market?
What are the import and export trends of the global mayonnaise market?
What is the structure of the global mayonnaise market and who are the key players?
What is the degree of competition in the global mayonnaise market?
How is mayonnaise manufactured?
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