The Mayonnaise market is estimated to be valued at US$ 11.83 Billion in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Mayonnaise is an oil-and-vinegar or oil-based emulsion with a thick, creamy texture. It is used as a condiment and is commonly added to sandwiches, burgers, and salads to enhance their taste and flavors. Some key uses of mayonnaise include in chicken salads, tuna salads, potato salads, coleslaws, and deviled eggs. It acts as a binding and moisturizing agent in various food products.

Market Dynamics:
Rising demand from the foodservice industry: The growing demand for convenience foods from fast-food chains, restaurants, hotels, cafeterias, and other foodservice operators is driving the mayonnaise market growth. Mayonnaise is primarily used as a key ingredient in sandwiches, burgers, wraps, and other fried snacks, which witness heavy consumption in the foodservice sector.
Increasing health awareness : With growing health consciousness, consumers are looking for products with clean label, non-GMO ingredients and less sugar, fat, and cholesterol. In response, manufacturers are focusing on developing healthier options of mayonnaise with additional vegetables, nuts, and herbs to offer more nutrients.

SWOT Analysis
Strength: Mayonnaise is a popular condiment that adds flavor to many dishes. It has three main ingredients — oil, egg yolk, and acid — which gives it a creamy texture and distinctive taste. It is easy to make at home and affordable. The market is dominated by a few major brands that have wide brand recognition and consumer trust.
Weakness: Some people avoid mayonnaise due to its high fat and calorie content. Excessive consumption can lead to weight gain. It also has a short shelf life once opened which limits its commercial applications.
Opportunity: Growth of the food service industry has increased demand for mayonnaise in restaurants and cafes. Many brands are launching new healthier variants with less fat, calories, cholesterol and preservatives to cater to the growing health-conscious consumer base.
Threats: Rising health awareness is driving demand for other low-fat alternatives like hummus, tzatziki and avocado-based dips. Strict food regulations around ingredients, labeling and production standards pose compliance challenges for brands.

Key Takeaways

The global mayonnaise market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand from the food service industry. As more people dine out or order in, the consumption of mayonnaise in restaurants and fast food outlets is growing rapidly.

Regional analysis: North America dominates the global mayonnaise market currently. The U.S. alone accounts for over 40% value share due to widespread popularity and usage of mayonnaise in various dishes. Europe follows in terms of market size on the back of well-established brands and strong demand in countries like France, Germany and Russia. Asia Pacific is projected to be the fastest growing region in the coming years led by countries like China, India and Southeast Asian countries. As lifestyles change and more international cuisines gain popularity, the use of condiments like mayonnaise is increasing rapidly in urban Asia.

Key players operating in the mayonnaise market are Nestlé SA, Ajinomoto Co., Inc., McCormick Company, Inc., Kraft Heinz Company, Unilever, Kewpie Corporation, Sauer Brands, Inc. (Duke's Mayonnaise), Kensinton Sons, LLC, Spectrum Organic Products, LLC, Woodstock Foods, and others. Major players are focused on new product launches to diversify their portfolio and attract health-conscious consumers through variants with new formats, fewer additives and natural claims