West Africa Mayonnaise Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
Mayonnaise is a thick and creamy sauce made from egg yolks, oil, vinegar or lemon juice, and seasonings. It may vary in appearance with its colour ranging from white and cream to pale yellow. It is extensively used as a spread for sandwiches or burgers, dips for snacks, base for tacos or rolls. Mayonnaise is also utilised as an alternative to ketchup for the preparations of numerous appetisers as well as several main course dishes in western cuisines. Recently, the growing popularity of salads and fast-food products has resulted in an increased consumption of mayonnaise in West Africa. According to IMARC Group’s latest report, titled “West Africa Mayonnaise Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the West Africa mayonnaise market reached a value of nearly US$ 31 Million in 2018.
Over the past few years, it has been noted that there is an inclination towards convenience and fast food amongst consumers. This is one of the primary factors which is proliferating the growth of the mayonnaise market in West Africa. In addition to this, in countries like Nigeria and Algeria, there has been a rise in urbanisation as well as in the adoption of western lifestyles which has resulted in a consequent surge in the demand for ready-to-use food products. This has, in turn, contributed towards an augmented demand for mayonnaise across the region. Moreover, manufacturers have also started introducing smaller packaging options along with low-fat versions of mayonnaise on account of rising health consciousness. Apart from this, an emerging middle-class with high disposable incomes of the consumers is another factor which has been driving the growth of the West Africa mayonnaise market. Looking forward, the market is projected to exceed a value of US$ 50 Million by 2024, expanding at a CAGR of 8.5% during 2019-2024.
On the basis of product type, the market has been segmented into flavoured and unflavoured. Amongst these, flavoured mayonnaise represents the leading segment on account of the availability of innovative flavours such as zingy pesto, and hot and spicy wasabi.
Based on the raw material, the mayonnaise market has been segregated into with egg and eggless. Currently, mayonnaise containing egg dominates the entire market in West Africa.
Based on end-use, mayonnaise is being majorly used in institutional sector which includes food processing companies, restaurants, food chains, cafes, hotels, bakery and confectionaries. Institutional sector is followed by retail sector.
On the basis of distribution channel, supermarkets and hypermarkets represent the largest means for purchasing mayonnaise across the region. These stores are followed by convenience stores, online retailers, specialty stores and others.
On a geographical front, Nigeria dominates the West Africa mayonnaise market with the majority of the market share.
The competitive landscape of the market has also been examined with some of the key players being GB Foods, Nestle SA, Nurevas, McCormick Corporation, Kraft Heinz, TGI, Pure Food Processing Industries and BM Foods.
This report provides a deep insight into the West Africa 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 West Africa mayonnaise market in any manner.
Key Questions Answered in This Report:
How has the West Africa mayonnaise market performed so far and how will it perform in the coming years?
Which are the popular product types in the West Africa mayonnaise market?
What are the raw material requirements to manufacture mayonnaise?
What are the different end-use sectors in the West Africa mayonnaise market?
What are the major distribution channels in the West Africa mayonnaise market?
What are the key regions in the West Africa mayonnaise market?
What are the various stages in the value chain of the West Africa mayonnaise market?
What are the key driving factors and challenges in the West Africa mayonnaise market?
What is the structure of the West Africa mayonnaise market and who are the key players?
What is the degree of competition in the West Africa mayonnaise market?
How is mayonnaise manufactured?
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