The Business Research Company’s Seasoning And Dressing Global Market Report 2020-30: COVID-19 Impact and Recovery
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Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors in the seasoning and dressing manufacturing industry. Health concerns of consumers is increasing the sales of products with natural ingredients, additives, and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015. Food and beverage manufacturers should look to gain a stronger foothold in the increasingly popular healthy food products segment, either by introducing products with natural additives and coloring agents or by acquiring smaller firms that produce products with natural ingredients.
The global seasoning and dressing market is expected to grow from $141.1 billion in 2019 to $147.5 billion in 2020 at a compound annual growth rate (CAGR) of 4.6%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The seasoning market size is then expected to recover and grow at a CAGR of 9% from 2021 and reach $191.1 billion in 2023.
The major players in the global seasoning and spices market are MDH Spices, Nestle S.A, The Kraft Heinz Company, McCormick & Company Inc., and Everest Spices. The market is segmented by type into seasoning, dressing and by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, others subsegments covered: spices, herbs, others – seasoning, sauces dressings and condiments, food and salad dressings.
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