Globally the Condiments market share as a flavor enhancer is estimated to escalate at a higher growth rate which is supported by the rising consumption of ready-to-eat meals and convenience food products. The rising demand for food accompaniments are supporting the sale of Condiments in the market. The developing economy of various regions are fueling up the market demand for condiments. All these factors contribute to the calculated CAGR of 3.4% of Condiments market during 2017-2023.
The increasing sale of Condiments is driven by its diverse application across the food industries. The rich flavor imparted by the condiments to the food preparations is considered a major driver for the product. Technology developments in developed regions has led to the innovation in flavors along with increasing the shelf-life of the Condiments which has supported its sale globally. High focus on research and development sector of the food industries has influenced the positive growth rate of the market. The consumption of Condiments is found to be high in Europe and is evaluated to increase at a positive growth rate in various countries of North America and Asia-Pacific region.
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Some of the key players profiled in the global condiments market are ConAgra Food Inc. (U.S.), Kraft Foods Inc. (U.S.), Mars, Incorporated (U.S.), General Mills, Inc. (U.S.), Unilever Plc. (U.K.), Hormel Foods Corporation (U.S.), The Kroger Company (U.S.), and Nestlé S.A. (Switzerland), among many others.
Food & Beverage Industry
Convenience Food Manufacturers
Retailers and Wholesalers
Traders, Importers, and Exporters
The global condiments market is segmented into type, packaging material, and distribution channel.
On the basis of type, it is segmented into spices, sauces and ketchup, dressings, and others. Among all, the spices segment is dominating the market followed by sauces and ketchups owing to its higher application in “ready-to-eat” food products.
On the basis of packaging material, it is segmented into plastics, glass, paper, and others. Among all, the plastic segment holds the major market share due to its convenient packaging and convenience product usage property. Glass packaging is also evaluated to hold a significant share in the global market.
On the basis of distribution channel, it is segmented into store-based and non-store based. Among all, the store-based segment is dominating the market owing to convenience shopping and one-stop shopping experience witnessed by consumers. However, consumers’ high inclination towards adopting the advanced technology is influencing the high growth of e-commerce trading channels.
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The Global Condiments Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe region holds a major market share followed by North America. The high demands for Condiments and condiments as a key ingredient from the developed countries of these regions is contributing to the positive growth of Condiments market. Rising consumption of on-the-go and read-to-eat meals is supporting the growth of the market in developed countries of North America and Europe region. U.K., U.S., Canada, France, Germany and Netherlands are the major importers of Condiments.