Condiments are defined as a spice used as a flavor enhancer to enhance the overall organoleptic property of food preparations. Condiments are mainly used as a food additive and include sauces, dressings, dips and others. They are also used in the pickled and preserved food products to increase the shelf-life of the product. The increasing consumption of flavor enhancers backed up by a shift in consumers’ food preferences is anticipated to propel the growth of Condiments Market on a global platform.
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.
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The mounting growth rate of flavor enhancers in developing countries is causing an increased demand for sauces, dips, spices, and others. This has uplifted the demand for condiments in the food & beverage industry. Moreover, the convenience packed food products have demanded an improved condiments product line, which has positively impacted the market growth of condiments.
Furthermore, R&D investments have led to new product launches in the range which has further added fuel to the growth of this market. Additionally, improvement in the production process and development of improved products from major key players are expected to support the growth of the global condiments market during the forecast period, 2017–2023.
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.
The Global Condiments Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is dominating the condiments market followed by Asia Pacific. The U.S. in the North American region is experiencing a high demand for condiments from the “on-the-go” food products’ manufacturers. Moreover, increased consumption of sauces, dips, and ketchup in China, India, and Japan is supporting the growth of the condiments market in the Asia Pacific region.
Europe is the fastest growing region for the condiments market owing to the increasing demand for condiments as an additive in foods in the markets of Germany, France, and Italy.