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Globe and Mail
4 days ago
- Business
- Globe and Mail
Global Condiments, Sauces & Seasonings Market to Surpass USD 359 Billion by 2030
"Global Condiments Market Research Report by Focus Reports Store" Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2025–2030. According to Focus Reports Store, the Global Condiments Market is projected to grow at a CAGR of 4.22% from 2024 to 2030, reaching USD 358.96 billion by 2030. Looking for More Information? Click: Report Summary: Market Size (2030): USD 358.96 Billion Market Size (2024): USD 280.09 Billion CAGR (2024-2030): 4.22% Historic Year: 2021-2023 Base Year: 2024 Forecast Year: 2025-2030 Largest Region (2024): APAC Market Segmentation: Product Type, Packaging Type, Distribution Channel, Category, and Geography Geographic Analysis: North America, Europe, APAC, Latin America, and the Middle East & Africa $80 Million Sales of Plant-based Condiments in U.S. Signals Rising Demand for Organic & Vegan Condiments The global shift toward plant-based nutrition is driving significant growth across the vegan condiments segment. In the U.S. alone, organic sauces and dressings generated nearly $80 million in sales, according to the Good Food Institute, highlighting strong consumer momentum for clean-label, sustainable food alternatives. Consumers are increasingly choosing vegan options, such as dressings, sauces, and spreads made from nuts, seeds, or avocado, to align with sustainable, ethical, and health-conscious lifestyles. In India, Assocham reports that eateries and coffee chains are expanding their plant-based menus. Major restaurant brands like McDonald's, Subway, and KFC now offer more plant-based items in India than in the U.S., driving higher demand for egg-free mayonnaise and dairy-free sauces, particularly in the food service sector. Leading brands are responding. Unilever, for instance, has launched vegan mayonnaise and pledged to grow its plant-based portfolio while cutting its carbon footprint. Premiumization and Global Flavors Redefine the Condiments Market in 2024 The global condiments market in 2024 is evolving rapidly as consumers demand premiumization, clean-label ingredients, and authentic, globally inspired flavors. Mass-produced options are giving way to artisanal, small-batch sauces and dressings that emphasize quality and provenance. Key trends include umami-forward recipes, plant-based alternatives, fusion condiments, and ethnic flavors like gochujang, harissa, and fermented chili pastes. Brands such as Melinda's Hot Sauce and Mike's Hot Honey are expanding shelf share in upscale grocery, premium food service, and gourmet subscription boxes by offering unique, craft-inspired profiles that appeal to consumers seeking experiential eating and bold flavors. As premium and globally inspired condiments move into the mainstream, producers and retailers have a clear opportunity to differentiate through authenticity, sustainable sourcing, and distinctive taste experiences that resonate with today's quality-focused consumer. Condiments Market Trends Unilever Invests £40 Million in UK Condiments Expansion In November 2024, Unilever completed a £40 million upgrade at its Burton food factory in the UK, adding a second high-tech facility and expanding production lines for brands like Hellmann's. The site now produces 9 million jars and bottles monthly, boosting output efficiency by 13% over three years. Nestlé's MAGGI Targets Africa with New Dry Condiments In 2025, Nestlé's MAGGI brand launched new dry seasonings, including Khaleeji, Truffle, and Smoked blends, to meet growing demand for affordable, locally inspired flavor solutions across Africa. The launch reinforces MAGGI's position in everyday African kitchens. Quick-Service Restaurants & Cloud Kitchens Reshape Global Condiments Market The global condiments market is positioned for sustained growth as rapid expansion across the foodservice industry, led by quick-service restaurants (QSRs) and the rise of cloud kitchens, continues to reshape global consumption patterns. According to International Franchise Ownership, QSR outlets are projected to grow by over 2% through 2025, while the US foodservice industry alone is forecast to surpass $1.5 trillion in sales during the same period. Major operators, including McDonald's, KFC, and Domino's, are increasingly relying on branded sauces, flavor innovation, and portion-controlled packaging to enhance menu customization and meet rising consumer demand for convenience foods and experiential dining. Meanwhile, the surge in cloud kitchens, particularly in emerging markets, is driving fresh demand for diverse, high-quality condiments that elevate takeaway and home-style meal delivery. This shifting landscape highlights how condiments have become a vital, high-value category within the evolving foodservice ecosystem Asia-Pacific Strengthens Its Lead in the Global Condiments Market The Asia-Pacific region remains the largest contributor to the global condiments market, holding more than 43% of total share. Rising demand for meat and seafood dishes is driving this momentum, supported by trends like the growth of cultivated meat, with 10 new facilities opening across Asia and other regions in 2023 (GFI). Changing consumption patterns, especially in India, are fueling demand for ready-to-eat meals and convenience foods, with the WHO noting a clear rise in ultra-processed food intake. This is boosting sales of sauces, dressings, and seasonings as consumers look for authentic, easy flavor solutions at home. In response, global and local brands are launching wider portfolios, from fusion condiments to masala-based spreads, to meet evolving tastes. Fast food's rapid expansion and greater acceptance of global flavors continue to make APAC the strongest growth hub for the global condiments industry. Key Vendors Unilever Nestlé The Kraft Heinz Company Conagra Brands Del Monte Foods Associated British Foods Kikkoman Corporation McCormick & Company Other Prominent Vendors Hormel Foods Frito-Lay Mars NutriAsia AAK Three Threes Midas Foods International Sing Cheung The Kroger Ajinomoto Carl Kühne Lee Kum Kee Edward & Sons Trading Veeba Texas Pete Goya Foods Melinda's Edward & Sons Trading Marker Segmentation & Forecasts Product Type Wet Condiments Dry Condiments Packaging Type Bottles & Jars Sachets & Pouches Others Distribution Channel B2B B2C Category Branded Unbranded Geography APAC China India Japan South Korea North America US Canada Europe Germany UK France Italy Middle East & Africa Turkey Saudi Arabia South Africa UAE Latin America Brazil Mexico U.S. Private Label Food Market – Focused Insights 2025-2030 U.S. Frozen Food Market - Focused Insights 2024-2029 What Key Findings Will Our Research Analysis Reveal? Which Category provides more business opportunities in the global condiments market? What are the key trends in the global condiments market? How big is the global condiments market? What is the growth rate of the global condiments market? Who are the major players in the global condiments market? Why Focus Reports? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Focus Reports Focus Reports, an esteemed Arizton Advisory & Intelligence subsidiary committed to delivering precise and insightful market research reports across all key geographies. Our unique selling proposition lies in our affordable pricing, accurate data, in-depth research, and presentation-ready reports. With us, expensive market research is outdated. We aim to be strategic, providing valuable data.
Time of India
6 days ago
- Business
- Time of India
Govt working on modalities to mandate green steel public procurement
The government is working on modalities to mandate public procurement of green steel , a move towards smoother transition from the traditional carbon steel, a senior official said. Green steel refers to steel produced with significantly reduced carbon emissions compared to traditional methods. "Green steel will be in the market and will be competing with not so green steel," Ashwini Kumar, Economic Adviser in the steel ministry said adding that "there is need to mandate some kind of public procurement of green steel. We are working on that also." He was addressing the India Steel Conclave 2025 organised by Assocham. "It is a tricky business. I don't know when we will see green steel public procurement coming into force but still modalities are being worked out," he said adding that the government is also working on Green Steel Mission . He further said that European Union's Carbon Border Adjustment Mechanism (CBAM) is against the spirit of free trade agreement. CBAM is the EU's proposed tax on energy-intensive products, such as iron, steel, cement, fertilizers and aluminium imported from countries like India and China. Ministry of Steel is preparing Green Steel Mission with an estimated cost of ₹15,000 crore for helping the steel industry reduce carbon emission and progress towards the net-zero target . The mission includes PLI scheme for green steel, incentives for use of renewable energy and mandates for government agencies to buy green steel.
News18
25-07-2025
- Business
- News18
Govt working on modalities to mandate green steel public procurement: Official
New Delhi, Jul 25 (PTI) The government is working on modalities to mandate public procurement of green steel, a move towards smoother transition from the traditional carbon steel, a senior official said. Green steel refers to steel produced with significantly reduced carbon emissions compared to traditional methods. 'Green steel will be in the market and will be competing with not so green steel," Ashwini Kumar, Economic Adviser in the steel ministry said adding that 'there is need to mandate some kind of public procurement of green steel. We are working on that also." He was addressing the India Steel Conclave 2025 organised by Assocham. 'It is a tricky business. I don't know when we will see green steel public procurement coming into force but still modalities are being worked out," he said adding that the government is also working on Green Steel Mission. He further said that European Union's Carbon Border Adjustment Mechanism (CBAM) is against the spirit of free trade agreement. (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 25, 2025, 15:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
24-07-2025
- Business
- Time of India
Credit costs, gross NPA ratio of affordable housing financiers seen going up
Credit costs and gross non-performing assets ratio of housing finance companies operating in the affordable housing segment is expected to increase in the current financial year, according to a joint report by industry body Assocham and rating agency CareEdge. Gross NPA is expected to increase to 1.6% from 1.4% in the previous year, while credit costs are seen rising to 0.4% from 0.3% mainly because of a relatively weaker borrower profile, especially in the self-employed segment. Explore courses from Top Institutes in Please select course: Select a Course Category Management Data Analytics healthcare Finance Leadership CXO Healthcare Others Degree Artificial Intelligence Design Thinking Data Science Public Policy others Product Management PGDM MCA Operations Management Data Science Project Management Digital Marketing MBA Cybersecurity Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details 'Improvement in the seasoning of the loan book will lead to some natural elevation in delinquencies. Policy initiatives, such as interest subsidies, will provide a fillip for the sector. However, higher delinquencies are visible for HFCs with a higher composition of self-employed borrowers,' the report said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Redefine Your Future with a Top Online MBA JAIN Online Learn More Undo The growth in assets under management of these HFCs is likely to taper to 23% in FY26 from 25% a year ago. On the other hand, AUM growth of prime HFCs is estimated to increase to 12.1% from 10.6% in the same period. In this segment, gross NPA is likely to reduce to 1.6% in the current financial year from 1.7% in the previous year. Live Events 'Credit costs would remain low at 0.3% for FY26. Incidentally, the NPA in this segment mostly represents high-yield wholesale loans for builders or commercial premises,' the report said.
News18
19-07-2025
- Business
- News18
India to attract USD 100 bn in FDI from EFTA countries: Comm Min Goyal
Mumbai, Jul 19 (PTI) India remains a key destination for overseas investments and is likely to attract USD 100 billion in foreign direct investments (FDIs) from the four-nation European bloc EFTA, Union Commerce and Industry Minister Piyush Goyal said on Saturday. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Speaking at an Assocham Managing Committee meeting here, Goyal also emphasised the need to stay competitive. Earlier, he said the free trade agreement between India and the EFTA will be implemented from October 1. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. At a separate event in the financial capital, Goyal also inaugurated the Data Security Council of India (DSCI) Advanced Cyber Skill Centre at CII Model Career Centre in the western suburb Kandivali. 'My calculation, or my gut sense, is that USD 100 billion FDI, along with Indian promoter equity, when they come into your companies, it will catalyse to at least USD 500 billion investment in India into brownfield or greenfield," said the minister at the Assocham event. The minister said the FDI commitment would also create a million direct jobs in the coming years, and help technology and innovation through Swiss SMEs entering Indian markets. He asked Assocham members to focus on scale and quality to remain competitive and take advantage of these FTAs. Citing a game-changing initiative, Goyal said that the Cabinet has sanctioned Rs 1 lakh crore towards an innovation fund to drive R&D in the country. 'It can be given out to all of you or any company willing to do it in research and development in the form of a grant, in the form of a low-cost loan, interest-free loan, or term loan," he said. Recognising the key role of MSMEs, the minister stressed the need for enabling these enterprises with access to global markets, modern technology, and affordable capital. With 2.4 million STEM graduates annually, including 43 per cent women, India is well-positioned to scale up its manufacturing and innovation capabilities. Recognising India's potential as a global capability hub, he said the country can emerge as a high-quality destination for Global Capability Centres (GCCs), as India now offers comparable or superior talent at a fifth of global costs, lower-than-expected real estate and energy costs, and a compelling alternative to offshore operations amid declining H1B dependency. On the social security pact with the UK, Goyal said India has successfully negotiated a social security agreement with the UK, enabling Indian professionals on short-term UK work visas (up to 3 years) to contribute to their Indian EPF accounts rather than losing 25 per cent of their overseas earnings in UK social security contributions. On the government's Bharat Mart initiative, the minister said there are plans to replicate a similar model for Indian MSMEs, particularly leveraging Mumbai's strategic and financial advantage, with government support and incentives promised. On the upcoming EU Deforestation Regulation (EUDR), which mandates supply chain traceability for seven commodities like coffee, wood, and furniture, among others, requiring detailed farmer and production data to be uploaded, the minister acknowledged this regulation as a non-tariff barrier. He urged Indian industries to proactively engage and negotiate such barriers and emphasised that quality compliance, not just quantity, must be a national priority. The centre at Kandivli is equipped with advanced training infrastructure and facilities to conduct in-depth training in cybersecurity to create industry-ready talent. PTI IAS BAL BAL First Published: July 19, 2025, 21:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
