Plant-Based Condiments Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Source (Plant Milk, Beans, Vegetables And Fruits, Others), By Product (Table Dressings, Paste, Purees, And Sauce, Seasoning, Pickled), By Application (Bakery, Snacks, Toppings And Dressings, Others), By End-User (HoReCa, Household And Retail), And By Geography - Forecasts From 2021 To 2026
Published:  Nov 2021 Report Code: KSI061614158 Pages: 120

The plant-based condiments market is projected to witness a CAGR of 18.58% during the forecast period to reach a total market size of US$1,717.128 million by 2026, increasing from US$520.862 million in 2019.

Introduction.

Condiments are complementary to preparing food by adding a layer of flavor to it. These plant-based products are made from soy milk, almond milk, cashew milk, vegetable and leaves, beans, etc mixed with herbs and spices. They not only add flavor to food but also contains nutritional values.

Market Drivers.

Plant-based condiments have diverse uses ranging from soups, sandwiches, salads in different types of cuisine. These varied uses make it a popular product in both households and food services. These condiments are low in fat and gluten-free satisfying fitness enthusiasts. The plant-based condiments minimize the chances of diabetes, hypertension, heart diseases, and gastrointestinal inflammations. Additionally, product launches and extensive investment in R&D are also pushing the market further. Also, an increase in the purchasing power and accessibility of the products on a global scale, are responsible for increasing the demand for the products.

By end-user, the HoReCa segment is expected to hold the largest share of the market as this sector continues to expand and make use of the condiments extensively. Geographically, the North American region is dominating the market due to the presence of a large number of players in the region, food safety norms, easier handling & storage, & environmental sustainability. By product, the paste, puree, and sauces segment holds a significant share due to its application in different cuisines across the globe.

Growth Factors.

  • Change in dietary trends.

Vegetarianism is a relatively new diet being widely adopted all over the world as health awareness rises. Plant-based condiments are an optimal solution to add flavor to food while keeping calories in check as fitness becomes a major motive along with a reduced risk of diseases. These new dietary trends are inducing growth in the market. Animal-based products are blamed for using antibiotic doses while rearing the animals and the growing concern for animal welfare is diverting consumers to plant-based condiments. The market is thriving with opportunities due to its high potential to reach a wider consumer base with the latest products.

  • Innovative marketing strategies.

The plant-based condiment products are well-marketed with eye-catching taglines and celebrity endorsements which is the chief propeller of the growth of the market. Rising the commercialization scale and innovation by the market players will further boost the business of plant-based condiments. The novel packaging and labeling of the condiments attract consumers to the market thereby, increasing the product's demand.

Restrains.

The processing and marketing costs of the plant-based products raise the final price of the products which refrains people from purchasing the products regularly. These products are widely used in food services and gastro-cuisines which have a limited consumer base. These factors slow down the growth of the otherwise, highly potential market.

Impact of COVID-19 on the Plant-Based Condiments Market

The pandemic has impacted the food industry negatively on both the supply and demand sides. The plant-based condiment market saw a drop in the output due to the lack of raw material and manufacturing plants operating at low capacity. Trade also suffered as exports were cut down and imposition of import quotas. However, production began to rise over the past months. On the demand side, the household sector's demand increased as people resorted to home cooking during the lockdowns. The HoReCa segment gradually caught up with the demand as online food delivery systems were allowed to ply in.

Competitive Insights.

The market leaders for the Plant-based Condiments Market are Nestle SA, Kraft Heinz, Unilever PLC, Archer Daniel Midland Companies, General Mills, Daiya Foods Inc, Huy Fong Foods, Danone SA, Amy’s Kitchen, and Eden Foods. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,

  • Kraft Heinz in 2021 collaborated with PB Creative to design its new range of Vegan Condiment Products and invested $199 million in its U.K. food plant to meet the rising demand for ketchup and salad cream. In the same year, Kraft Heinz acquired sauces and condiments manufacturer Assan Foods from the Turkish firm Kibar Holding. The transaction has an enterprise value of $100 million.
  • In 2021, Danoe SA acquired 100 percent of the shares of US plant-based foods specialist Earth Island who had the brand Follow Your Heart maker of the egg-free mayonnaise Vegenaise. 
  • In 2018, Unilever PLC acquired The Vegetarian Butcher to expand its product portfolio of plant-based products.
  • In 2021, Archer Daniels Midland Co. (ADM) acquired Sojaprotein, a European provider of non-GMO soy ingredients, and in 2020 acquired a natural plant-based extracts and ingredients manufacturer Yerbalatina Phytoactives to strengthen its position in the health and wellness market.
  • In 2018, Amy's Kitchen expanded its operation to India and in 2020 opened a new pizza production facility in California.

Plant-Based Condiments Market Scope:

Report Metric Details
 Market size value in 2019  US$520.862 million
 Market size value in 2026  US$1,717.128 million
 Growth Rate  CAGR of 18.58% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  Source, Product, Application, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Nestle SA, Kraft Heinz, Unilever PLC, Archer Daniel Midland Companies, General Mills, Daiya Foods Inc, Huy Fong Foods, Danone SA, Amy’s Kitchen, Eden Foods
 Customization scope  Free report customization with purchase

Segmentation:

  • By Source
    • Plant Milk
    • Beans
    • Vegetables and fruits
    • Others
  • By Product
    • Table Dressings
    • Paste, purees, and sauce
    • Seasoning
    • Pickled
  • By Application
    • Bakery
    • Snacks
    • Toppings and dressings
    • Others
  • By End-User
    • HoReCa
    • Household and retail
  • By Geography
    • North America
      • USA
      • Canadá
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Indonesia
      • Taiwan
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the plant-based condiments market size by 2026?
A1. The plant-based condiments market is projected to reach a total market size of US$1,717.128 million by 2026.


Q2. What is the size of the global plant-based condiments market?
A2. Plant-Based Condiments Market was valued at US$520.862 million in 2019. 


Q3. What are the growth prospects for the plant-based condiments market?
A3. The global plant-based condiments market is projected to witness a CAGR of 18.58% during the forecast period.


Q4. Which region holds the maximum market share of the plant-based condiments market?
A4. Geographically, the North American region is dominating the plant-based condiments market due to the presence of a large number of players in the region, food safety norms, easier handling & storage, & environmental sustainability.


Q5. What factors are anticipated to drive the plant-based condiments market growth?
A5. The plant-based condiment products are well-marketed with eye-catching taglines and celebrity endorsements which is the chief propeller of the growth of the plant-based condiments market.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. Plant-based Condiment Market Analysis, By Source
5.1. Introduction
5.2. Plant Milk
5.3. Beans
5.4. Vegetables and fruit
5.5. Others


6. Plant-based Condiment Market Analysis, By Product
6.1. Introduction
6.2. Table Dressings
6.3. Paste, purees, and sauce
6.4. Seasoning 
6.5. Pickled


7. Plant-based Condiment Market Analysis, By Application
7.1. Bakery
7.2. Snacks
7.3. Toppings and dressings
7.4. Others


8. Plant-based Condiment Market Analysis, By End-User
8.1. HoReCa
8.2. Household and retail


9. Plant-based Condiment Market Analysis, By Geography
9.1. Introduction
9.2.  North America 
9.2.1. United States
9.2.2. Canada
9.2.3. Mexico 
9.2.4. Others 
9.3. South America 
9.3.1. Brazil
9.3.2. Argentina 
9.3.3. Others
9.4. Europe 
9.4.1. United Kingdom
9.4.2. Germany 
9.4.3. France 
9.4.4. Italy 
9.4.5. Spain 
9.5. Middle East and Africa 
9.5.1. Saudi Arabia
9.5.2. Israel 
9.5.3. Others 
9.6. Asia Pacific 
9.6.1. Japan
9.6.2. China 
9.6.3. India
9.6.4. Indonesia
9.6.5. Taiwan
9.6.6. Thailand 
9.6.7. Others 


10. Competitive Intelligence
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrative
10.3. Mergers, Acquisition, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix


11. Company Profiles
11.1. Nestle SA
11.2. Kraft Heinz
11.3. Unilever PLC
11.4. Archer Daniel Midland Companies
11.5. General Mills
11.6. Daiya Foods Inc
11.7. Huy Fong Foods
11.8. Danone SA
11.9. Amy’s Kitchen
11.10. Eden Foods

Nestle SA

Kraft Heinz

Unilever PLC

Archer Daniel Midland Companies

General Mills

Daiya Foods Inc

Huy Fong Foods

Danone SA

Amy’s Kitchen

Eden Foods

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