According to IMARC Group’s latest report, titled “Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global mayonnaise market reached a value of more than US$ 9 Billion in 2016. Belonging to Spanish-French origin, mayonnaise is a type of thick and creamy cold sauce, which finds extensive applications as an accompaniment in the food industry. It is composed of whipped mixture of vegetable oil, egg yolks, salt, sugar, vinegar and spices, wherein egg yolk acts as the emulsifying agent. The authentic mayonnaise cannot be produced without eggs, however, to cater the vegan consumers, eggless mayonnaise has become highly popular in the market over the years.
Highlights of the global mayonnaise market:
- Diverse applications in culinary preparations represent the key growth inducing factor.
- Unflavored mayonnaise is the most popular product type, holding the majority of the shares.
- North America is the leading market, accounting for the largest share.
The market is driven by the trend of using sauces and spreads, specially mayonnaise, in numerous appetizer and main course preparations such as salads, breads, bagels, potatoes, sandwiches and burgers as well as to create other flavored sauces by adding herbs and ketchup. Moreover, changing consumer preferences have resulted in an inclination towards sophisticated and exotic tastes, thereby increasing the demand for mayonnaise globally. The thriving food service sector and growing popularity of fast food chains have positively influenced this trend. Some of the other factors that have contributed to the market growth are rising disposable incomes, growing popularity of Mexican and Latin American style food and introduction of healthier varieties of mayonnaise in the market. Owing to the above-mentioned forces, the market is anticipated to reach a value of around US$ 12 Billion by 2022, exhibiting a CAGR of around 4.5% during 2017-2022.
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The market has been segmented on the basis of product type as unflavored mayonnaise and flavored mayonnaise. Amongst these, unflavored mayonnaise dominates the market. Based on end-use, the market is categorized into institutional and retail sectors. The market is further segmented on the basis of distribution channels, wherein supermarkets and hypermarkets represent the biggest segment. Other major distribution channels include convenience stores, online retailers and speciality stores. Region-wise, North America accounts for the majority of the total share, followed by Europe and Asia Pacific. Other major regions include the Middle East and Africa, and Latin America. On analyzing the competitive landscape of the market, it is found that some of the key global players are Nestlé, Ajinomoto, McCormick, Kraft Heinz and Unilever.
The report by IMARC Group has examined the global mayonnaise market on the basis of:
- Unflavored Mayonnaise
- Flavored Mayonnaise
- Institutional sector
- Retail sector
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retailers
- Speciality Stores
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
- Kraft Heinz
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