Cooking Spray Market to Reach $15,027.7 million, Globally, by 2032 at 5.4% CAGR: Allied Market Research
Key factors driving the growth of the cooking spray market include versatility in cooking applications, reduction in oil/fat consumption, and demand for precision in cooking ingredients. Furthermore, the rising obesity concerns globally is a driving factor behind the increased market demand for cooking spray.
Wilmington, Delaware, March 20, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled,* “Cooking Spray Market By End Use (Commercial Use, Home Use), Type (Vegetable Oil Spray, Olive Oil Spray, Coconut Oil Spray, Butter Flavored Spray, Baking Spray, Others), and Distribution Channel (B2B, B2C): Global Opportunity Analysis and Industry Forecast, 2023-2032”. *The global cooking spray market was valued at $8,967.0 million in 2022, and is projected to reach $15,027.7 million by 2032, registering a CAGR of 5.4% from 2023 to 2032.
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*Prime determinants of growth*
The cooking spray market has experienced substantial growth in recent years, driven by several key determinants. Firstly, the increasing consumer preference for healthier cooking options has significantly contributed to the expansion of this market. Cooking sprays offer a convenient way to reduce the amount of oil or fat used in cooking, aligning with the growing health consciousness among consumers. With concerns over obesity and related health issues rising, individuals are actively seeking out alternatives to traditional cooking methods, thereby fueling the demand for cooking sprays.
Secondly, the rise in popularity of cooking shows, social media influencers, and online recipe platforms has played a pivotal role in driving the growth of the cooking spray market. These platforms often promote innovative cooking techniques and recipes that advocate for using cooking sprays as a healthier and more efficient alternative to traditional cooking oils. As a result, consumers are increasingly incorporating cooking sprays into their culinary routines, driving up sales and market growth. Furthermore, the convenience factor associated with cooking sprays has also contributed significantly to market expansion. Cooking sprays offer ease of use, allowing for precise application and reducing the hassle of measuring and pouring oils. This convenience appeals to busy consumers seeking efficient cooking solutions without compromising on taste or health. Additionally, the versatility of cooking sprays, which can be used for various cooking methods including grilling, sautéing, baking, and frying, further enhances their appeal and drives market growth.
*Report coverage & details:*
*Report Coverage* *Details*
Forecast Period 2023–2032
Base Year 2022
Market Size in 2022 $8,967.0 million
Market Size in 2032 $15,027.7 million
CAGR 5.4%
No. of Pages in Report 476
Segments Covered End Use, Type, Distribution Channel, and Region
Drivers · Health Awareness
· Obesity Concerns
· Convenience and Versatility
Opportunities · Strategic Partnerships and Marketing Initiatives
· Expansion into New Markets
Restraints Perceived Inferior Taste Compared to Traditional Oils
*The commercial use segment to maintain its leadership status during the forecast period*
By end use, the commercial use segment held the highest market share in 2022, accounting for nearly three-fourths of the global cooking spray market revenue, and is estimated to maintain its leadership status during the forecast period. However, the home use segment is projected to manifest a significant CAGR of 6.1% from 2023 to 2032.
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*The vegetable oil spray segment to maintain its leadership status during the forecast period*
By type, the vegetable oil spray segment held the highest market share in 2022, accounting for nearly two-fifths of the global cooking spray market revenue, and is estimated to maintain its leadership status during the forecast period. Additionally, the others segment is projected to manifest the highest CAGR of 7.0% from 2023 to 2032.
*The B2B segment to maintain its leadership status during the forecast period*
By distribution channel, the B2B segment held the highest market share in 2022, accounting for more than half of the global cooking spray market revenue, and is estimated to maintain its leadership status during the forecast period. Additionally, the B2C segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032.
*North America to maintain its dominance by 2032*
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global cooking spray market revenue. In addition, the Latin America region is also expected to witness the fastest CAGR of 7.2% from 2023 to 2032 and is likely to dominate the market during the forecast period.
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*Leading Market Players: -*
· Baker’s Joy
· Crisco
· Frylight
· Mazola
· PAM
· Pompeian
· Smart Balance
· Spectrum
· Vegalene
· Wesson
The report provides a detailed analysis of these key players in the global cooking spray market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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