Mayonnaise Market Size to Reach US$ 15.7 Billion 2023-2028 | Industry CAGR of 4.08%

IMARC Group, a leading market research company, has released a report titled "Mayonnaise Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". According to the report, The global mayonnaise market size reached US$ 12.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.08% during 2023-2028.

Mayonnaise is a stable emulsion of oil, egg yolk, and an acid such as lemon juice or vinegar, often seasoned with salt, mustard, and other flavorings. Known for its rich, creamy texture, it serves as a key ingredient in various culinary applications across the globe. Its origin is traced back to European cuisine, and it has since become a fundamental condiment in many international dishes. Mayonnaise can be found in different consistencies and flavors, catering to diverse consumer preferences and regional tastes. The product is commonly utilized in salads, sandwiches, dips, dressings, and sauces, thus becoming a staple in both household kitchens and commercial food services. Its versatility and ability to blend with various ingredients make it an essential part of the culinary landscape. Nowadays, mayonnaise is widely available in varied packaging formats, such as jars, squeeze bottles, and single-serving packets, which further facilitates its extensive applications in food preparation and consumption.

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Mayonnaise Market Trends and Drivers:

The global mayonnaise market is primarily driven by the growing popularity of Western cuisine and the shifting inclination toward convenience foods. The constant innovation in flavors and textures appeals to a broader consumer base, supporting market growth. Moreover, the availability of health-conscious options, such as low-fat and organic mayonnaise variants, is attracting health-aware consumers and fueling market growth. The surge in fast-food chains and eateries offering mayonnaise-based dishes has also augmented the product demand. Additionally, there is a substantial shift toward eco-friendly packaging solutions, reflecting a global trend toward sustainability. In line with this, the advent of online retail channels is facilitating accessibility and purchase of diverse mayonnaise products, catering to the individual preferences of consumers worldwide. This, coupled with the proliferation of mayonnaise in emerging economies, is favoring market growth as more consumers in these regions are exploring new flavors and convenience foods, including mayonnaise, owing to the inflating disposable incomes and rapid urbanization. Furthermore, the leading manufacturers and brands are heavily investing in strategic marketing and advertising activities to promote mayonnaise as a versatile condiment. Along with this, the launch of specialized mayonnaise products, such as vegan or allergen-free options, allows brands to cater to specific dietary needs and preferences, thereby positively influencing market growth. Besides this, many mayonnaise manufacturers are entering into collaborations and partnerships with restaurants, chefs, and food service providers, resulting in unique recipes and menu items, thus catalyzing the demand for mayonnaise. Other factors, including the growing need for compliance with strict food safety regulations and quality standards, globalization of culinary practices and flavors, and the shift in consumer behavior toward home cooking and online grocery shopping during the COVID-19 pandemic, are also creating a favorable market outlook.

Report Segmentation:

The report has segmented the market into the following categories:

Type Insights:

Unflavored mayonnaise
Flavored mayonnaise

End Use Insights:

Institutional
Retail

Distribution Channel Insights:

Supermarkets and hypermarkets
Convenience stores
Online retailers
Specialty store
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Competitive Landscape with Key Player:

Nestle SA
Ajinomoto Co.
McCormick & Company
Kraft Heinz
Unilever PLC

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