Mayonnaise Market Share, Size, Growth, Demand and Forecast Till 2024
united states, 25 June 2019 -- The global mayonnaise market has witnessed a steady growth over the past few years. The demand for mayonnaise has experienced a positive thrust owing to hectic lifestyle of the consumers along with the introduction of innovative product variants by the manufacturers.
Mayonnaise is a thick creamy emulsion of egg yolk, oil, vinegar, lemon juice and seasonings. It is used both as the base for other sauces, such as thousand-island salad dressing and tartar sauce, as well as in the preparation of snacks, such as sandwiches, burgers, salads, dips and cupcakes. Over the years, the growing popularity of salads and fast-food products has resulted in an increased consumption of mayonnaise across the globe. A new research report by IMARC Group, titled “Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global mayonnaise market was worth US$ 10.3 Billion in 2018. The report further anticipates the market to reach a value of US$ 13.2 Billion by 2024, at a projected CAGR of 4.1% over the forecast period.
Due to the hectic schedules and busy lifestyles of the working population, there has been a shift towards convenience foods which has fuelled the demand for mayonnaise, in turn, impelling the market growth.
The manufacturers are introducing eggless variants of mayonnaise with different flavours so as to expand their consumer-base. This has resulted in a rise in the consumption of mayonnaise, particularly in the countries with high vegetarian population.
The high oil content in mayonnaise can result in obesity and various other health issues. This has restrained the sale of mayonnaise products, thereby declining the global mayonnaise market.
Breakup by Type:
1. Unflavoured Mayonnaise
2. Flavoured Mayonnaise
Based on type, the market has been segmented into flavoured and unflavoured mayonnaise. Currently, unflavoured mayonnaise is the most popular product type, accounting for the majority of the market share.
Breakup by End Use:
On the basis of end-use, the market has been segregated into institutional and retail sectors. Amongst these, the institutional sector dominates the market, holding around three-fourths of the market share.
Breakup by Distribution Channel:
1. Supermarkets and Hypermarkets
2. Convenience Stores
3. Online Retailers
4. Speciality Stores
On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer convenience to the consumers by providing a large variety of products and brands in one place. Supermarkets and hypermarkets are followed by convenience stores, online retailers and speciality stores.
Breakup by Region:
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Region-wise, North America accounts for the majority of the total market share on account of the growing popularity of Mexican and Latin American foods coupled with the rising demand for heathier varieties of mayonnaise in the region. North America is followed by Europe and Asia Pacific. Other major regions include the Middle East and Africa, and Latin America.
The global mayonnaise market is concentrated in nature with only few players sharing the majority of the market share. Some of the leading players operating in the market are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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