Mayonnaise: Key market research findings
- Inclination towards low-fat and healthier varieties of mayonnaise
- Growing demand from foodservice industry
Technavio has released a new market research report on the global mayonnaise market, which is expected to grow at a CAGR of 4.5% between 2016 and 2020. Fast-paced lifestyles and transforming eating habits with a shift towards ready-to-eat (RTE) meals, has made mayonnaise a staple ingredient. The availability of a range of flavors or variants and increased consumption of snacks like sandwiches, burgers, and salads are driving the growth of the mayonnaise market. The Americas dominate the global mayonnaise market, occupying around 59% of the overall market share. The prevalence of fast foods such as burgers and sandwiches is driving the market in this region
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market is witnessing growing demand for vegan variants in mayonnaise. Vendors are offering vegetarian, gluten- free, gourmet, low-fat mayonnaise, and olive oil-based mayonnaise, keeping the growing health trend. The demand for vegetarian or egg-free spreads in countries like India is rising, where the vegan mayonnaise contributes to 80% of overall mayonnaise sales. Consumers and vendors opting for these plant-based egg alternatives given their identical nutritional profile. These products find favor with vegetarians, vegans, and those with egg allergy,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Surging demand for high convenience food has led to a greater interest in readymade sauces and dressings, in turn resulting in increased demand for mayonnaise. Mayannaise account for 54% of the market share in the overall dressings market. Increased interest in varied cuisines has also necessitated usage of mayonnaise, as it is a staple salad dressing. Demand from quick service restaurants (QSRs) and the fast food industry has also led to the growth of the mayonnaise market, as it is an important ingredient in several popular foods like burgers and sandwiches.
The key vendors in the global mayonnaise market are Kraft Heinz, Unilever, McCormick & Company, and Dr. Oetker. The market is highly fragmented and has numerous vendors including international and regional players. Vendors compete on the basis of product differentiation, portfolio, brand recognition, technology, and pricing. Competition in this market is expected to intensify during the forecast period, as most of the vendors are launching gourmet variants and unique flavors.
A more detailed analysis is available in the Technavio report, Global Mayonnaise Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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