September 2022, Market Research Future has published a Report on the Global Mayonnaise Market
Market Overview:
Mayonnaise market is expected to reach USD 15.4 billion by 2030, growing at a CAGR of 4.56% from 2023 to 2030.
Mayonnaise is usually made from oil, egg yolks, vinegar, and seasonings. However, from the last few years, mayonnaise is made from eggless ingredients since it is preferred by vegan and allergic to egg population. Egg-free mayonnaise contains soy or pea protein instead of lecithin in egg yolk. Rising demand for mayonnaise due to fast food and ready to eat foods is driving the growth of the mayonnaise from last few years across the globe. Application of mayonnaise for salad dressing and processed food is increasing at a significant rate, especially, in developed countries.
Market Forecast:
It is used as an emulsifier in the food industry. It is a thick and creamy dressing used as a condiment on various cuisines. The global mayonnaise market is mainly driven by rising demand for convenience foods and increasing application of mayonnaise for salad dressing. Introduction of various mayonnaise products made from different ingredients is gaining attention of consumers.
Egg-free alternatives are also available for vegans and those allergic to eggs, which has increased the consumption of mayonnaise in the global market. Improving distribution network of mayonnaise manufacturers is influencing the sales of mayonnaise across the globe. However, intense competition among the key players may hamper the new entrants in the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.56% of mayonnaise market during the forecast period 2022-2030.
Downstream Analysis:
Mayonnaise market is segmented on the basis of raw material such as egg, eggless, and others. However, mayonnaise made from eggs is dominating the market whereas, mayonnaise made from the eggless raw material is likely to witness a substantial growth over the forecast period.
On the basis of specialty food type, the mayonnaise market is segmented into gluten-free, kosher, organic, vegan, GMO-free, and others. Growing inclination of consumers towards plant-based products is boosting the demand for organic mayonnaise segment. Moreover, increasing vegan population is expected to drive the growth of the market over the review period.
Based on the packaging, mayonnaise market is segmented into bottles, sachets, jar, and others. Among all, bottles packaging is dominating the market whereas sachets are expected to grow at a higher rate in the coming years.
On the basis of the distribution channel, mayonnaise market is segmented into store-based and non-store based. Store-based distribution channel is dominating the market in which hypermarket and supermarket hold the major share.
Competitive Analysis:
The major players in the mayonnaise market
- Unilever (U.K.)
- Marina Foods, Inc. (U.S.)
- ADM Antwerp (Belgium)
- Solo Foods (South Africa)
- Delicacy Foods (Cyprus)
- Paradise Food Ltd (U.K.)
- AR Brands (South Africa)
Regional Analysis:
The global mayonnaise market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Europe held the major market share followed by North America owing to increasing application of mayonnaise for salad dressing and for ready to eat foods. The inclination of consumers towards fast foods have helped mayonnaise gain popularity in North America. Changing lifestyle and consumption pattern in developing countries like India and China are boosting the mayonnaise market at a substantial rate in Asia Pacific. Moreover, increasing use of mayonnaise in different cuisines is growing the mayonnaise market in rest of the world.
Market Segmentation:
Mayonnaise market is segmented on the basis of raw material, specialty food type, packaging, distribution channel, and region.
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Report details
| Base Year | 2022 |
| Companies Covered | 15 |
| Pages | 110 |
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