Mustard plant belongs to the genera of Brassica and Sinapis within the Brassicaceae family. Being native to sub-Himalayan region of the Indian sub-continent, Mustard plant is cultivated majorly for its edible leaves and oil seeds with wide-ranging culinary uses. Mustard is a seasonal crop grown in the winters and their leaves are more flavorful and crisp and available between November and March. The young tender leaves are used widely as a leafy vegetable and being extracted for from the plant when it got about two feet tall. Furthermore, the plant grows about four to five feet in height and endures flowers of golden-yellowish shade which later develop into mustard oil-seeds pods.
Mustard market Global Market Trends and Market Drivers:
The rising migration levels around the world with the emergence and acceptance multi-culinary food culture and urge for new taste and food flavors is driving the demand of mustard seed oil across the world as a prominent condiment sauces and cooking oil. Moreover, the rising trend of using more and more herbal and natural medicinal products coupled with rising awareness among consumers around the globe about the therapeutically beneficial mustard herb & oil is adding up in the rising demand for products in global mustard market. Being a seasonal crop of winter, the natural cultivation is not sufficient to maintain the supply to demand ration throughout the year leading to frequent price fluctuations.
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Mustard Market Segmentation
Mustard is segmented on the basis of type, nature, form, application, distribution channel, end use and region. On the basis of type mustard market is segmented as Black mustard and Indian mustard. Both these varieties of mustard possess distinctive properties and uses. However, Indian mustard is more common in use and is also known as yellow mustard. Black mustard plant is grown exclusively for its seed and seed oil which find more medicinal uses such as in the treatment of arthritis.
On the basis of nature Mustard market is segmented as; Organic and conventional. In the rising urge and demand of organic food products globally, mustard market is no longer remain as an untapped market. There is a growing demand of mustard products grown organically.
On the basis of form Mustard market is segmented as; seed, powder, paste and oil. The seed form mustard is marketed majorly in direct sales to various companies involved mustard oil manufacturing. However, a large number of powdered and paste form mustard products are also available in the retail market.
On the basis of application mustard market is segmented as; Food, Pharmaceuticals and personal care. The food segment of mustard market can be further categorized into seasonings & condiments sauces; spreads, dips & relishes; snacks and cooking oil.
On the basis of distribution channels mustard market is segmented as; direct and indirect sales. The indirect sales of mustard market can be further segmented into retail stores, food wholesale stores, modern trade, and online retail. The major share of revenue being driven by retail segment, the online retail is expected to attain a superior growth rate and a substantial market share by showcasing the information available on internet.
On the basis of region the mustard market is segmented into Asia Pacific, North America, Latin America, Europe and Middle East & Africa. Mustard plant with its higher culinary usage across minor Asian region with an established market for both its edible leafs and seed oil hold a prominent market share in the countries like Thailand, Indonesia, China, India and others in the Asia Pacific region. However, the cultivation of mustard plant as a crop is now naturalized in the areas of North Africa and in some of the European regions. The market for yellow mustard/Indian mustard is now growing even across the North American region.
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Mustard Market Key Players:
Variety of mustard formulations have been introduced by the manufacturers and some of the global market players in mustard market include; Conagro Brands Inc., McCormick Foods, Unilever, Mustard and Co., H.J. Heinz Company, French’s, Cargill Inc. among others.