Apr 20, 2022, 09:40 ET
Increase in demand for prepared mustards as a flavorful spice and rapid growth of food & beverage industry drive the growth of the global prepared mustard market.
PORTLAND, Ore., April 20, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Prepared Mustard Market by Nature (Organic, Conventional), by Type (Yellow, Brown, Black), by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global prepared mustard industry generated $7.5 billion in 2020, and is anticipated to generate $11.9 billion by 2030, witnessing a CAGR of 4.9% from 2021 to 2030.
Prime determinants of growth
Increase in demand for prepared mustards as a flavorful spice and rapid growth of the food & beverage industry drive the growth of the global prepared mustard market. However, lack of packaging, non-availability of processing plan, and fluctuating prices of raw materials hinder the market growth. On the other hand, the growing awareness of the health benefits of prepared mustard presents new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global prepared mustard market, especially during the initial phase. This is owing to disruptions in the supply chain.
- However, the market is now recovering steadily.
The conventional segment to maintain its leadership status throughout the forecast period
Based on nature, the conventional segment held the highest market share in 2020, accounting for two-thirds of the global prepared mustard market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to various benefits such as easy availability. Moreover, the organic segment is projected to manifest the highest CAGR of 5.5% from 2021 to 2030, owing to growing concerns regarding environment, sustainability, and healthy food.
The yellow segment to maintain its lead position during the forecast period
Based on type, the yellow segment accounted for the largest share in 2020, contributing to nearly half of the global prepared mustard market, and is projected to maintain its lead position during the forecast period. This is due to trend of consuming fast food among consumers. However, the brown segment is expected to portray the largest CAGR of 5.2% from 2021 to 2030. Driver???
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global prepared mustard market. North American consumers have begun to show an interest in fast food that provide benefits beyond basic refreshment, which boosts growth of the prepared mustard market. Moreover, the Europe region is expected to witness the fastest CAGR of 5.5% during the forecast period, which is driven by desire of consumers for tasty and healthy foods.
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Leading Market Players
- Conagra Brands, Inc.
- H. J. Heinz Company
- McCormick Foods
- Mustard and Co.
- Taylors Inc.
- Dijon Mustard
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