Demand for diet-friendly salad dressings and mayonnaise options is rising during the global pandemic, which creates opportunities for manufacturers to enhance their product portfolio.
DUBAI / ACCESSWIRE / May 25, 2020 / Future Market Insights, The global COVID-19 pandemic has been resulting in more cautious food choices by consumers, with preferences largely inclined towards healthier lifestyle options. In addition, the demand for Latin American and Mexican foods is currently growing strong, supporting the demand for myriads of salad dressing varieties. On the other hand, the pandemic has also resulted in extensive disruptions in terms of procuring essential raw materials and international trade, which will restrict market growth, by hurting production and distribution capabilities during this period as projected by a new study of Future Market Insights (FMI). The global salad dressings and mayonnaise market will regain momentum post pandemic, on the back of demand for ready-to-eat and convenience foods. The market will reach a US$ 29.46 Bn valuation through 2029, says the FMI report.
"In a bid to prevent the spread of the COVID-19 virus, governments form around the world have set up restrictions on the export and import activities that are having a major impact on the salad dressing and mayonnaise market during the crisis, generating a larger gap between demand and supply in the industry," says the FMI study.
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Salad Dressings and Mayonnaise Market- Key Takeaways
Foodservice applications of salad dressings and mayonnaise will continue to remain highly sought-after owing to growing numbers of fast food businesses.
Mayonnaise is expected to retain its lead over other salad dressing products, driven by the development of low-calorie and vegan alternatives.
Industrial sector applications are anticipated to experience a boom during the forecast period, despite uncertainties in global economic activity.
North America and Europe are the leading regional markets driven by efforts to bolster product inventories. Middle East and Africa and Oceania offers a number of remunerative opportunities.
Salad Dressings and Mayonnaise Market- Key Driving Factors
Growing incidences of lifestyle-based ailments such as diabetes and obesity have resulted in development of healthy salad dressing and mayonnaise variants, aiding market growth.
Investments in product innovations and attractive packaging, is key to the adoption of salad dressings and mayonnaise.
New remunerative opportunities for salad dressings and mayonnaise have arisen from applications in food service and industrial sectors.
Inefficiencies in the food industry supply chains, bolster demand for salad dressing and mayonnaise in the role of flavored preservatives.
Salad Dressings and Mayonnaise Market- Key Restraints
Unfavorable government regulations associated to manufacturing and labeling practices for salad dressings and mayonnaise remain a key obstacle for market players.
The growing health awareness among consumers restrict adoption of conventional dressings in the market.
COVID-19 Impact on Salad Dressings and Mayonnaise Market
The spread of the pandemic has resulted in notable problems in the adequate procurement of essential raw materials. In addition, governments around the world have also announced strict curbs on export and import activities, which are hindering the distribution aspects of the industry.
However, growing health awareness among consumers during this pandemic has resulted in changes in consumer preferences towards healthier food products, including low-fat and low-calorie variants of salad dressings and mayonnaise, creating new revenue streams in the industry.
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Major players are seeking strategic collaborations and acquisitions to bolster the expansion of product portfolios in addition to seeking collaborations with regional/local manufacturers. Further, manufacturers are seeking to develop products for a wider range of end use applications. Also, partnerships, acquisitions, and mergers for regional expansion remain among the preferred growth strategies. Heinz, Tostito's Salsa, Hellmann's Inc., Kraft Food Group Inc., Best Foods Mayonnaise, and French's Classic Mustard are some of the leading salad dressings and mayonnaise producers in the global market.
About the Report
This study offers readers a comprehensive market forecast of the Salad dressings and mayonnaise market. Global, regional and country-level analysis of the latest industry trends impacting the salad dressings and mayonnaise market is covered in this Future Market Insight (FMI) study. The report offers compelling insights on salad dressings and mayonnaise market on the basis of product type (salad dressings and mayonnaise), and application (daily use and food industry), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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SOURCE: Future Market Insights
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