The worldwide gravy mixes market is gauged to be esteemed at US$ 16,933.5 Million of 2022. During the estimated time frame going from 2022-2032, deals of Gravy Mixes are supposed to develop at a CAGR of 6.9%, to be esteemed at US$ 33,000.7 Million.
Gravy mixes are highly preferred as ideal flavor enhancers. Manufacturers of gravy mixes offer a wide range of pack sizes ranging from single serving to family packs. Furthermore, gravy mixes consume less time in preparation and therefore, the preference for gravy mixes is expected to grow during the forecast period as the demand for easy-to-cook products increases.
Gravy mixes are preferred by many households for family gatherings and weekend dinners, as a perfect solution to eliminate the need to stand in the kitchen for long hours. The outlook for the growth of the global gravy mixes market is expected to remain largely positive during the next ten years.
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Global gravy mixes market: Market Dynamics
The global gravy mixes market is expected to grow on the backdrop of growing demand for semi-processed and easy-to-prepare food products with a healthy balance of fresh herbs and spices. Gravy mixes are ideal for family gatherings, and therefore, are a staple in many western countries.
In addition, growing penetration of retail and easy access to departmental stores in developing countries is expected to lead to the growth in sales of gravy mixes. Despite the positive outlook, one of the key factors that might possibly act as a restraint to the growth of the global gravy mixes market is that a significant population of consumers in developing countries prefer traditional spice mixes for their recipes.
Global gravy mixes market: Regional Outlook
The global gravy mixes market has been divided into seven key regions – North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Middle East & Africa (MEA), and Japan. The North America gravy mixes market is anticipated to retain the leading position over the forecast period.
This is attributed to the well-established retail sector in the region. The Western Europe gravy mixes market is expected to follow closely. The APEJ region might witness growth in sales of gravy mixes during the next ten years. However, penetration is expected to be low due to prevalence of traditional recipes and spices for cooking. The key contributor to the growth of the gravy mixes market in the MEA region is expected to be the migrating population from foreign countries in the region.
Global gravy mixes market: Key Players
Few of the key players operating in the global gravy mixes market are – Southeastern Mills, Inc., McCormick & Company, Inc., Campbell Company of Canada, Edward & Sons., and Kent Precision Foods Group, Inc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global gravy mixes market: Segmentation
The global gravy mixes market has been segmented on the basis of product origin, type, packaging type, distribution channel, and end use.
On the basis of origin, the global gravy mixes market has been segmented as –
- Organic
- Conventional
On the basis of product type, the global gravy mixes market has been segmented as –
- Vegan
- Brown
- Mushroom
- Others
- Non-vegan
- Beef
- Poultry
- Pork
- Others
On the basis of packaging type, the global gravy mixes market has been segmented as –
- Rigid Packaging
- Food cans
- Jars
- Flexible Packaging
- Pouches
- Sachets
On the basis of distribution channel, the global gravy mixes market has been segmented as –
- Modern Grocery Retail
- Hypermarket/Supermarkets
- Departmental Stores
- Convenience Stores
- Traditional Grocery Retail
- Specialty stores
- Independent grocery stores
- E-retail
On the basis of end use, the global gravy mixes market has been segmented as –
- Households
- Commercial establishments
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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