by Mayonnaise is an emulsion-based spread made from egg yolk, oil, vinegar or lemon juice, and other seasoning agents. It is a thick creamy dressing that is primarily used as sandwich condiment or salad dressing. Mayonnaise is widely used in all kind of ready-to-eat food products owing to its flavors and texture enhancement abilities. The growing demand for convenience foods and on-the-go eating habits has prompted a spike in use of Mayonnaise in foods like sandwiches, burgers, wraps, salads and appetizers.
The global Mayonnaise Market is estimated to be valued at US$ 11.83 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing consumption of ready meals and packaged foods has been a key driver propelling the demand for Mayonnaise globally. With evolving lifestyles and busier schedules, consumers are increasingly opting for convenient food options that can be consumed quickly. Mayonnaise plays a vital role in enhancing the taste and flavors of these pre-packed and ready-to-eat meals. Its smooth texture and mild flavors allow food manufacturers to experiment with newer recipes and product lines. The rising uptake of Mayonnaise by food processing companies has significantly contributed to the revenues of Mayonnaise market over the recent past.
SWOT Analysis
Strength: Mayonnaise has a long shelf life and requires no refrigeration making it a convenient product. It is widely used across households and restaurants as a dressing or sauce.
Weakness: Mayonnaise contains a high amount of fat and calories. Growing health consciousness among consumers is driving demand for healthier plant-based and low-fat alternatives.
Opportunity: Product innovation and new product launches catering to changing consumer preferences for organic, gluten-free, vegan, and low-fat varieties present an opportunity for growth. Emerging markets of Asia Pacific offer untapped potential.
Threats: Stagnating demand in mature markets due to saturation. Intense competition from salad dressings and other savory spreads can impact sales. Stringent food quality and safety regulations pose compliance challenges.
Key Takeaways
The global mayonnaise market is expected to witness high growth. The global Mayonnaise Market is estimated to be valued at US$ 11.83 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis comprises North America dominates the global market led by the US. Changing lifestyles and frequent dining out are driving large scale consumption. Europe follows next with countries such as Germany, UK, and France being major contributors to demand.
Key players operating in the mayonnaise market are jinomoto Co., Inc., McCormick & Company, Inc., Kraft Heinz Company, Unilever, Kewpie Corporation, Sauer Brands, Inc. (Duke’s Mayonnaise), Kensinton & Sons, LLC, Spectrum Organic Products, LLC, Woodstock Foods, and others. Large players are investing in organic, plant-based, and international brands to strengthen their market position. Companies are innovating with new flavors, textures and packaging formats for sustained growth.
