Asia-Pacific Condiments Market Growing Rapidly - Top Dominating Market Players Kraft-Heinz, Inc., Nestl, Yeo Hiap Seng Ltd, Three Threes Condiments Pty Limited

The Asia-Pacific condiments market size was $45,762.75 million in 2017 and is projected to reach $71,862.43 million by 2025, registering a CAGR of 5.8% from 2018 to 2025. In 2017, the sauce segment accounted for more than half of the share in the Asia-Pacific market in terms of value.

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Increase in popularity of fast food restaurants, also known as the quick service restaurants (QSRs), majorly boosts the growth of the Asia-Pacific condiments market. China and Japan are the largest consumers of condiment owing to the presence of a large population base and surge in the number of QSRs such as McDonald's, Burger King, Wendys, Subway, and Dunkin Donuts.

These outlets rely on the use of condiments such as sauce, puree, marinade, and more to improve taste and visual appeal of the served food items, which in turn contribute toward the market growth of condiments in that region. A surge in the growth of retail chains in India, China, Thailand, Vietnam, and others leads to the huge availability of condiments as well as beef, pork, poultry, seafood, and other meat products. The condiment is an important ingredient used while cooking meat, which further increases its demand, thereby driving the Asia-Pacific condiments market growth.

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In 2017, the sauce condiment type accounted for the highest market share in Asia-Pacific and is anticipated to grow at a significant CAGR of 6.2% during the forecast period. Sauces are served with certain meals such as pizza, noodles, and meat & seafood as taste enhancers. Some of the most common cuisines in which sauces are added include Asian, British, French, and Italian cuisines. In 2017, the meat & seafood segment accounted for the highest market share in the Asia-Pacific condiments market.

Comprehensive and Competitive Analysis of Leading Market Players

-Kraft-Heinz Inc.
-Nestl
-Yeo Hiap Seng Ltd
-Three Threes Condiments Pty Limited
-Hormel Foods Corporation
-NutriAsia
-Unilever
-Kikkoman Corporation
-McCormick & Company Inc.
-Del Monte Foods Inc.

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