Seasoning And Dressing Global Market Report 2023
Major companies in the market include Archer-Daniels-Midland Company (ADM), Unilever plc, The Kraft Heinz Company, McCormick & Company, KIKKOMAN CORPORATION, Ajinomoto Co. Inc., Kewpie Corporation, Barilla Group, Bell AG, Tate & Lyle.
New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Seasoning And Dressing Global Market Report 2023" - https://www.reportlinker.com/p06284482/?utm_source=GNWThe global seasoning and dressing market grew from $156.5 billion in 2022 to $170.17 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The seasoning and dressing market is expected to grow to $227.99 billion in 2027 at a CAGR of 7.6%.
The seasoning and dressings market consists of sales of mayonnaise, salad dressing, vinegar, mustard, horseradish, soy sauce, tartar sauce, worcestershire sauce, spices, table salt, natural food colorings, gravy and sauce mixes, frosting mixes, and other seasoning and dressings.The companies in the seasoning and dressing industry process raw materials into seasonings and dressings, package and distribute them through various distribution channels to both individual customers and commercial establishments.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Seasoning is defined as an ingredient that is added to enhance the flavor of food. Dressing is defined as sauces that add flavor to the food that is typically utilized to prepare food or serve with other food dishes.
Asia-Pacific was the largest region in the seasoning and dressing market in 2022.North America was the second-largest region in the seasoning and dressing market.
The regions covered in the seasoning and dressing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of seasoning and dressings are seasonings and dressings.Seasoning is the process of adding salt, pepper, or other spices to enhance the flavour of food.
Seasoning and dressings are made available through supermarkets, hypermarkets, convenience stores, e-commerce, and other distribution channels. The seasonings and dressings are used in meat and poultry products, snacks & convenience foods, soups, sauces, and dressings, bakery & confectionery, frozen products, beverages, and other distribution channels.
Many countries across the globe are experiencing falling prices of crops due to overcapacity.This is expected to result in low raw material costs for seasoning and dressing manufacturing companies.
For instance, in November 2022, according to the report Frontline, an India-based national magazine on agriculture, the Cabinet Committee on Economic Affairs announced a bailout package of Rs 7000 crore for farmers involved in the sugar production sectors to fix the minimum selling price of refined sugar at Rs 29 per kilogram (prices dropped to Rs 23-24 recently due to overproduction) and to create a buffer stock of 3 million tonnes of sugar for one year.Thus, the overproduction of certain crops is likely to result in higher profit margins for seasoning and dressing manufacturing companies.
Higher profit margins will enable food and beverage companies to increase their productivity and drive the market going forward.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the seasoning and dressing manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the seasoning and dressing manufacturing market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Seasoning and dressing manufacturing companies are adopting automation and artificial intelligence (AI) technology to maximize production efficiency.Robotic systems automate the batching, conveying, processing, storage, and packaging of products, thus decreasing production cycle time and increasing output.
AI incorporates novelty and creativity into the food by identifying a base formula for a flavour category, AI incorporates novelty and creativity into food.Automation enables seasoning processing companies to improve plant conditions, reduce contamination, and operate with minimal human interaction, thus making processing safer for workers as well as consumers.
Plants with fixed automation systems increase yields by at least 2-3%.Kraft Heinz, Givaudan, McCormick, Ajinomoto, Kikkoman, and Kerry Group are some of the companies that use food automation equipment.
For instance, McCormick, in collaboration with IBM Research, is using AI to create new palatable flavors. Kraft Heinz has invested in robotics and artificial intelligence to implement automation to reduce manufacturing inefficiencies.
The countries covered in the seasoning and dressing market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The seasoning and dressings research report is one of a series of new reports that provides seasoning and dressings statistics, including seasoning and dressings industry global market size, regional shares, competitors with seasoning and dressings share, detailed seasoning and dressings segments, market trends and opportunities, and any further data you may need to thrive in the seasoning and dressings industry. This seasoning and dressings research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284482/?utm_source=GNW
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