Asia-Pacific Condiments Market to Reach $71.86 Bn by 2025 at 5.8% CAGR

Allied Market Research published a report, titled, Asia-Pacific Condiments Market by Type (Marinade, Sauce, Ketchup, Mayonnaise, Pickle, and Others), Application (Meat & Seafood Product, Convenience & Ready Meal, Snack, Baked Goods, and Others), and Form (Liquid, Paste, and Dry): Opportunity Analysis and Industry Forecast, 2018-2025.

Get Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/5066

Increase in cross-cultural interaction owing to globalization and increased foreign travel drives the Asia-Pacific condiments market. Moreover, rise in the number of fast-food outlets and a surge in retail network supplements the growth of the market. However, fluctuations in raw material prices impact the overall cost of manufacturing, thereby restraining the market growth. On the contrary, augmentation of products leading to the emergence of healthier options such as gluten-free sauces, organic sauces, and sauces with no/less preservative concentration is expected to create opportunities for the growth of the Asia-Pacific condiments market in the years to come.

the Asia-Pacific Condiments Market garnered $45.76 billion in 2017 and is expected to reach $71.86 billion by 2025, registering a CAGR of 5.8% from 2017 to 2025.

Frontrunners of the industry

The leading market players analyzed 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. Various strategies such as expansions, joint ventures, mergers & acquisitions, collaborations, partnerships, and others have been implemented by these players to gain a stronghold in the industry.

Sauces segment to maintain lion's share during the forecast period

The sauces segment generated more than half of the total market share in 2017 and would maintain its lion's share through 2025, due to their increased use as taste enhancers in almost all kinds of meals, meat & seafoods, and convenience food. Moreover, higher consumption of soy sauces in South East Asian countries, along with growing popularity of chili sauces, barbeque sauce, and other table sauces in Asia-Pacific drives the market growth. However, the marinades segment is expected to register the fastest CAGR of 6.6% from 2017 to 2025. This is due to the increased use of marinades in foodstuffs such as chicken, fish, and other forms of meat. Increasing disposable income of consumers, particularly in China, India, and Indonesia, has led to the rise in consumption of high value meat products, which in turn, boosts the consumption of marinades. The report also analyzes ketchup, mayonnaise, pickles, among others.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5066

Convenience foods & ready meals to overtake meat & seafood products

Among the applications, meat & seafood products captured one-third of the market share in 2017 and would maintain its lead through 2025. Growing disposable income of consumers, increase in urbanization, and rise in health consciousness in the Asia-Pacific region contribute to the higher consumption of protein rich food such as meat & seafood, thereby driving the demand for condiments in the market. However, the convenience foods & ready meals segment would grow at the fastest CAGR of 6.6% from 2017 to 2025, due to busy lifestyles of consumers. China and India are among the largest consumers of condiment, owing to the presence of large population base and surge in number of QSRs such as McDonalds, Burger King, Wendy's, Subway, and Dunkin' Donuts, which contribute toward the market growth. The study also discusses applications such as snacks, baked goods, among others.

Paste segment to contribute major revenue share throughout 2025

Among the forms, the paste segment accounted for 60% of the market share in 2017 and would maintain its dominance through 2025, as most of the condiments in paste form such as mayonnaise, ketchup, mustard, pickles, pasta sauce are highly consumed with all kinds of food products. However, the liquid segment would grow at the fastest CAGR of 7.0% during the study period. This is because soya sauce is one of the most consumed sauce in Asia-Pacific owing to its application in a lot of dishes such as noodles, Sushi, marinated chicken, pad Thai, and more. The dry segment would grow at a steady pace during the study period.

Request For Customization: https://www.alliedmarketresearch.com/request-for-customization/5066

India to exhibit the fastest growth through 2025

Among the countries in Asia-Pacific, Japan held a major market share, contributing more than one-third of the total revenue in 2017. This is due to the higher consumption of condiments in meat & seafood products and higher affluent population in the region. However, India would register the fastest CAGR of 11.7% from 2017 to 2025, owing to rise in disposable income of consumers, increase in popularity of fast-foods, and expanding retail network in the region. The others regions analyzed in the study are China, Australia, Indonesia, Thailand, Singapore, Malaysia, Vietnam, and the rest of Asia-Pacific.

Contact:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.