Pune, India -- (SBWire) -- 12/20/2018 --Market Definition:

The consumption of Condiments is found to be high in Europe and is evaluated to increase at a positive growth rate in various countries of North America and Asia-Pacific region. Technology developments in developed regions has led to the innovation in flavors along with increasing the shelf-life of the Condiments which has supported its sale globally. High focus on research and development sector of the food industries has influenced the positive growth rate of the market. The increasing sale of Condiments is driven by its diverse application across the food industries. The rich flavor imparted by the condiments to the food preparations is considered a major driver for the product.

Market Scenario:

Globally the Condiments market share as a flavor enhancer is estimated to escalate at a higher growth rate which is supported by the rising consumption of ready-to-eat meals and convenience food products. The rising demand for food accompaniments are supporting the sale of Condiments in the market. The developing economy of various regions are fueling up the market demand for condiments. All these factors contribute to the calculated CAGR of 3.4% of Condiments market during 2017-2023.

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Key Players:

Some of the key players profiled in the global condiments market are ConAgra Food Inc. (U.S.), Kraft Foods Inc.  (U.S.), Mars, Incorporated (U.S.), General Mills, Inc. (U.S.), Unilever Plc. (U.K.), Hormel Foods Corporation (U.S.), The Kroger Company (U.S.), and Nestlé S.A. (Switzerland), among many others.

Key Findings:

In June 2017, Kensington's launched artisanal condiments in the 'organic profile' bottle. The product is also manufactured with premium packaging to seek consumers' attention towards their product line and to increase their sale further.

The Asia Pacific region is experiencing a high demand for condiments as a potential food additive

Top exporters of condiments include the U.S., China, Germany, Italy, the Netherlands and Thailand

Intended Audience:

Condiments Manufacturers

Food & Beverage Industry

Convenience Food Manufacturers

Retailers and Wholesalers

Traders, Importers, and Exporters

Segments:

On the basis of packaging material, it is segmented into plastics, glass, paper, and others. Among all, the plastic segment holds the major market share due to its convenient packaging and convenience product usage property. Glass packaging is also evaluated to hold a significant share in the global market.

On the basis of distribution channel, it is segmented into store-based and non-store based. Among all, the store-based segment is dominating the market owing to convenience shopping and one-stop shopping experience witnessed by consumers. However, consumers' high inclination towards adopting the advanced technology is influencing the high growth of e-commerce trading channels.

The global condiments market is segmented into type, packaging material, and distribution channel.

On the basis of type, it is segmented into spices, sauces and ketchup, dressings, and others. Among all, the spices segment is dominating the market followed by sauces and ketchups owing to its higher application in "ready-to-eat" food products.

Regional Analysis:

The high demands for Condiments and condiments as a key ingredient from the developed countries of these regions is contributing to the positive growth of Condiments market. Rising consumption of on-the-go and read-to-eat meals is supporting the growth of the market in developed countries of North America and Europe region. U.K., U.S., Canada, France, Germany and Netherlands are the major importers of Condiments. The Global Condiments Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe region holds a major market share followed by North America.

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