Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global mayonnaise market is experiencing significant growth, with the market size reaching US$ 12.3 billion in 2022. Looking ahead, the market is expected to continue expanding and is projected to reach US$ 15.7 billion by 2028, with a compound annual growth rate (CAGR) of 4.15% during 2022-2028
Mayonnaise, a versatile condiment, is a crucial ingredient in various dishes like burgers, sandwiches, salads, dips, and more, making it a staple in restaurants, bakeries, and cafes worldwide.
The robust growth in the food and beverage (F&B) industry is a primary driver of the mayonnaise market. Factors such as the increasing working population, urbanization, rising purchasing power, and improved living standards are propelling the demand for convenient, on-the-go mayonnaise-based food products.
Additionally, manufacturers are innovating by introducing new flavors like cheese, mint, lime, BBQ, chipotle, and tandoori, and expanding their product lines to include vegan, organic, and egg-less variants to cater to the growing vegan and vegetarian consumer base.
Marketing efforts, including celebrity endorsements and social media campaigns, are also contributing to increased sales and profitability. The market is currently concentrated, with a few major players dominating the industry. Unflavored mayonnaise holds a prominent position in the market due to its versatility in various culinary applications.
Institutional sectors widely use mayonnaise, and supermarkets and hypermarkets are the primary distribution channels for these products. North America leads the global mayonnaise market, driven by the growing demand for snacks in the region.
The expansion of organized distribution channels, such as hypermarkets, supermarkets, convenience stores, grocery stores, and online shopping applications, is creating lucrative opportunities for industry players.
Key Questions Answered in This Report
- What was the size of the global mayonnaise market in 2022?
- What is the expected growth rate of the global mayonnaise market during 2023-2028?
- What are the key factors driving the global mayonnaise market?
- What has been the impact of COVID-19 on the global mayonnaise market?
- What is the breakup of the global mayonnaise market based on the type?
- What is the breakup of the global mayonnaise market based on the end use?
- What is the breakup of the global mayonnaise market based on the distribution channel?
- What are the key regions in the global mayonnaise market?
- Who are the key players/companies in the global mayonnaise market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $12.3 Billion |
| Forecasted Market Value (USD) by 2028 | $15.7 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Some of the leading players operating in the market are:
- Nestle SA
- Ajinomoto Co., Inc.
- McCormick & Company, Inc.
- Kraft Heinz Company
- Unilever PLC
Key Market Segmentation:
Breakup by Type:
- Unflavored mayonnaise
- Flavored mayonnaise
Breakup by End Use:
- Institutional
- Retail
Breakup by Distribution Channel:
- Supermarkets and hypermarkets
- Convenience stores
- Online retailers
- Specialty store
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/d97vqa
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