Asia-Pacific Condiments Market estimated worth will $71,862.43 Million by 2025 - Top Trending Industry

Globalization has been one of the prime factors behind increase in international travel that led to the exchange of cultural beliefs and food preferences across the globe. This has also resulted in the adoption of exotic foods and condiments in the past few decades. Similarly, the growth of the Asia-Pacific condiments market is driven by increase in cross-cultural interaction owing to globalization and increased foreign travel.

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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.

Rise in the number of fast-food outlets and a surge in the growth of retail network also supplement the growth of the market. However, fluctuations in raw material prices impact the overall cost of manufacturing, thereby restraining the Asia-Pacific market growth. On the contrary, augmentation of products leading to the emergence of healthier options in condiment product lines such as gluten-free sauces, organic sauces, or sauces with no/less preservative concentration, and others is expected to create opportunities for the growth of the Asia-Pacific condiments market in the years to come.

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The Asia-Pacific condiments market is segmented based on type, application, form, and country. Based on type, the market is divided into marinade, sauce, ketchup, mayonnaise, pickle, and others, which includes pasta sauce, bouillon, dry sauce, cooking sauce, dip, tomato paste, and purée. As per application, the market is categorized into meat & seafood products, convenience food & ready meals, snacks, baked goods, and others (confectionaries and ready-to eat (RTE) cereals).

Based on form, the Asia-Pacific condiment market is categorized into liquid, paste, and dry. Based on country, the market is analyzed across China, India, Australia, Japan, Indonesia, Thailand, Singapore, Malaysia, Vietnam, and rest of Asia-Pacific.

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.

In 2017, Japan is anticipated to account for the highest share in the Asia-Pacific condiments market while India is anticipated to grow at the highest CAGR making it one of the lucrative markets in the Asia-Pacific region. The leading players in the Asia-Pacific condiments market have focused on product launch as their key strategy to gain a significant share in the market. The key players profiled in the report include Kraft-Heinz, Inc., Nestlé, Yeo Hiap Seng Ltd, Three Threes Condiments Pty Limited, Hormel Foods Corporation, NutriAsia, Unilever, Kikkoman Corporation, McCormick & Company, Inc., and Del Monte Foods, Inc.

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