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Global Condiments Market to Reach US$ 11.58 Billion by 2027, Supported by Rising Consumption of Ready-to-Eat (RTE) Foods

Published on Oct 05, 2022

IMARC Group’s latest report, titled “Condiments Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global condiments market size reached US$ 8.47 Billion in 2021. Condiments refer to prepared food compounds containing one or more spices or spice extracts. They are usually added to various products, such as pastries, vegetables, ice creams, dairy products, meat, and fruits, in small portions to enhance the taste of the food item and inculcate flavors in some cuisines. Some popularly used condiments are dips, sauces, dressings, jams, vinegar, syrups, ketchup, mustard, herbs, and spices. They are generally packed and stored in bottles, pouches, and sachets. They are commonly used to impart instant flavoring, aroma, and zest to the food while improving its taste, visual appeal, and shelf life. As a result, condiments are widely utilized as cooking ingredients and added to food items and cuisines before serving to enhance their flavor, texture, and nutrients.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.                                  

Global Condiments Market Trends:

The rising consumption of ready-to-eat (RTE) foods due to inflating consumer disposable incomes, changing taste preferences, and busy lifestyles represents the primary factor driving the market growth. Apart from this, the growing consumer interest in multi-cuisine culture and the surging popularity of flavorful ethnic sauces have catalyzed the demand for condiments. Moreover, there has been a substantial shift toward natural and organic food items that are tastier, healthier, and more nutritious, especially among the young adult population. Along with this, the increasing use of condiments in restaurants for sous vide, smoking, barbecuing, and pan and fire roasting has accelerated the product adoption rate. Furthermore, the leading players are launching healthier alternatives in condiments, such as guacamole, tahini, and balsamic vinegar, that are minimally processed and prepared using nutrient-dense ingredients. This is further supported by the growing health consciousness and food safety concerns coupled with the shifting consumer inclination toward clean-label products. Other factors, including the emerging trend of on-the-go food, the rapid expansion of the food service sector, increasing consumer willingness to try different international cuisines, and easy product availability via online and offline channels, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach US$ 11.58 Billion by 2027, growing at a CAGR of 5.50% during 2022-2027.

Market Summary:

  • Based on the type, the market has been segregated into spices, sauces and ketchup, dressings, and others. 
  • On the basis of the packaging type, the market has been classified into bottles, pouches and sachets, and others. 
  • The market has been divided based on the distribution channel into supermarkets and hypermarkets, specialty stores, convenience stores, and online stores. 
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.       
  • The competitive landscape of the market has also been examined, with some of the key players being Conagra Brands Inc., Del Monte Foods Inc., General Mills Inc., Hormel Foods Corporation, Kewpie Corporation, Kikkoman Corporation, Mars Incorporated, McCormick & Company Inc., Nestlé S.A., The Kraft Heinz Company, The Kroger Company, and Unilever PLC.
     

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