Market Overview
The global Mayonnaise Market Share is growing at a rapid pace, mainly due to the augmented demand from the fast-food joints. Increasing globalization and the acceptance of different cuisines are the key driving forces impacting the growth of the market. Besides, improving economic conditions in developing countries are accelerating the market growth on a global platform.
According to recent research published by Market Research Future (MRFR), the global Mayonnaise Market is booming and expected to reach a valuation of over USD 13.5 BN by 2024. MRFR also stats that the market would register a CAGR of 4.3% during the forecast period (2019 to 2024). Mayonnaise is projected to garner a colossal market prominence over the forecast period.
Rising numbers of consumers have opened new opportunities for industrial size mayonnaise manufacturers. The demand for Mayonnaise has been witnessing a constant rise due to the changing lifestyle and eating trends.
Even in its industrialized form, Mayonnaise is considered a natural food due to its all-natural ingredients, and by all means, healthier than most other dips available in the market. On the other hand, most of the populace from developing countries are still unaware of the taste and nutritional values of Mayonnaise, which is a significant restraint to market growth.
Global Mayonnaise Market - Segmentation
The market is segmented into five dynamics to widen the scope of understanding,
By Type : Egg Mayonnaise and Eggless Mayonnaise
By Category : Flavoured and Plain
By Packaging Type : Bottles, Pouches, and others.
By Distribution Channel : Store-based (Hypermarkets & Supermarkets, Convenience Stores, others) and Non-Store-based.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Global Mayonnaise Market - Regional and Country Analysis
Europe leads the global Mayonnaise Market Share. The largest share of the market attributes to the increasing consumption of Mayonnaise as dressing salads and in the fast-food restaurants. Strong growth can be seen in European countries such as Sweden, Denmark, and Finland. Mayonnaise flourishes in these countries, even with an influx of Mayonnaise loving consumers.
Another somewhat surprising region of strong growth is South America. Countries such as Peru, Columbia, Argentina, and Chile are strongholds of Mayonnaise. The Mayonnaise Market in the Asia Pacific region is expected to register the fastest growth during the review period owing to the increasing trend for the westernization of food patterns and acceptance of different cuisines.
Global Mayonnaise Market - Competitive Analysis
Characterized by the presence of a large number of big and small-scale players, the global Mayonnaise Market Share appears to be hugely competitive and fragmented. To gain a substantially larger share, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. To expand their footprints, players acquire small yet promising companies from emerging markets. This, as a result, challenges the local players in terms of features such as quality, technology, and price.
Fluctuations in raw material prices impact the production cost. The production cost is also an important factor that could affect the overall rates. Producers strive to establish a supply chain to meet the growing demand. Manufacturers engaged in the industry are trying to develop new techniques that can increase production and reduce the cost.
Major Players:
Players leading the global Mayonnaise Market include Unilever PLC (UK), Nestle S.A. (Switzerland), ADM Antwerp (Belgium), Kraft Heinz Company (US), Ajinomoto Co., Inc. (Japan), McCormick & Company, Inc. (US), Archer Daniels Midland Company (ADM Antwerp NV - US), Marina Foods, Inc. (US), Delicacy Foods (Cyprus), Solo Foods (South Africa), Paradise Food Ltd (UK), AR Brands (South Africa), Dr. Oetker GmbH (Germany), American Garden Products Inc. (US), and Del Monte Foods Inc. (US), among others.
Industry/Innovation/Related News
June 20, 2019 --- Falfurrias Capital Partners (the US), a private equity investment firm, announced the acquisition of the food business of Sauer Brands, Inc. (the US). The deal also includes the venerable Duke’s mayonnaise brand. Sauer makes the popular Mayonnaise, and Falfurrias Capital Partners acquires or invests in lower, middle-market businesses. The transaction still needs approval from the shareholders of C.F. Sauer.
September 18, 2019 --- Cremica Agro Foods Limited (India), a leading food product company, launched an exciting range of Mayonnaise. The food product conglomerate is known for its innovative offerings and commitment to quality. This time the company has come up with seven new flavors of Mayonnaise.
The new product range includes Mount Fuji Japanese Mayo, Akshay Bector category; Wild Spice, Tomakhan Mayo, Mushroom Willow, Creamy Basil Pesto, Frontier Josh Mayo, and Pickle Tickle which are a perfect combination of both classic Indian and International flavors to meet the evolving taste of Indian customers.
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