The global gravy mixes market is forecasted to be valued at USD 18,101.9 million in 2023. During the forecast period, ranging from 2023 to 2033, sales of gravy mixes are expected to flourish at a CAGR of 7.1%, to be valued at USD 34,563.0 million by 2033.
Due to the increasing number of nutrition and health benefits that are associated with this gravy mix, the market is expected to grow significantly shortly. A gluten-free and low-sodium gravy mix pack is also available from gravy mix manufacturers to suit special dietary requirements. From 2018 to 2022, gravy mixes demand expanded at a 4.8% value CAGR.
Data Points | Key Statistics |
---|---|
Expected market value (2023) | USD 18,101.9 million |
Anticipated forecast value (2033) | USD 34,563.0 million |
Projected growth rate (2023 to 2033) | 7.1% CAGR |
Gravy mixes are widely regarded as perfect flavor enhancers. Gravy mix manufacturers offer a range of pack sizes, with options ranging from family packs to single-serving packs.
The convenience of gravy mixes is a reason why many families favor them for any social event or weekend meal, as they provide a convenient solution for family meals. In the food preparation process, gravy mixes eliminate the need for the involvement of numerous ingredients as they comprise all the necessary ingredients and are all available at the same time. Globally, it is gaining attention due to its simplicity and ease of preparation in various regions.
Due to the popularity of convenience foods, gravy mixes are in greater demand. Convenience foods have shown a keen inclination due to the change in lifestyles and the growing working population, which is a key trend anticipating gravy mix growth in the market.
Several factors have led to the emergence of the vegan diet movement, including the desire to preserve animals along with the benefits of eating plant-based foods, leading to a rise in vegan gravy mix sales in the market.
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Gravy mixes are expected to rise on account of a growing demand for semi-processed and easy-to-prepare foods that are balanced with fresh herbs and spices. A gravy mix is very convenient for family gatherings, which is why they are a staple product in many Western countries. Additionally, gravy mix sales are expected to grow as retail penetration and easy access to department stores grow in developing countries.
There has been a sudden change in lifestyles, an increase in spending, and a growing number of busy individuals that has led to a growth in people's need for gravy mixes. Due to the trend toward quick-to-grab eateries, fast-food joints, and restaurants that need gravy mixes, the demand for these mixes has increased significantly in the market.
Due to the long working hours, the growing generation of millennials is opting for convenience food to maintain their lifestyles. Likewise, consumers will likely show a great deal of interest in gravy mixes due to their convenient nature and ease of preparation.
In light of its ease of use across industries in the hospitality and food services sector, the global gravy mix market is expected to grow substantially during the forecast period.
A significant reason behind the small growth of gravy mixes in developing countries may be the consumption of traditional spice mixes, which may limit the growth of the market. Managing the supply chain of gravy mixes can be challenging owing to the complexity that is involved in the process.
The shelf life of gravy mixes depends on the ingredients that are used to make them which might further hinder the growth of the market.
Gravy mixes retail sector neglects one of the biggest issues, which prevents its expansion, namely the lack of suitable preparation, storage, and packaging facilities. The ongoing upkeep and temperature monitoring necessary for storing gravy mixes will be a significant obstacle to the expansion of the market. The presence of excessive preservatives and the possibility of causing allergies to consumers could further depress the market.
North American gravy mixes are expected to retain their dominant position over the forecast period and will rise further between 2023 and 2033. As a result in the region's well-established retail sector, this is attributed to the strong demand for gravy mixes in the market. North America is anticipated to account for a market share of 30% by the end of 2023.
Technology advances in food processing and packaging that extend the shelf life of food contribute greatly to its growth. In addition to the fact that these technologies are aimed at increasing product life, they are also aimed at preserving the nutritional value of the food and minimizing health risks.
As a result of improvements in cold storage facilities, a broader range of packaged gravy mixes is now able to penetrate the market with greater ease. Since they are so affordable, they are the most sought-after meal on the market. Hence, gravy mixes are expected to be very popular in these regions, and this trend is expected to continue in the future.
Asia Pacific currently leads the market for gravy mixes and will continue to do so into the future. Within the next ten years, sales of gravy mixes in the Asia Pacific region will likely increase. As a result of changing tastes and preferences, growing affordability, willingness to try out new products, and desire to experiment with gravy mixes are all driving the growth of gravy mixes in the market.
The Indian food industry has seen a number of domestic players enter the market by introducing several traditional Indian gravies as convenience foods in the market. Single-serve packaging and portability are on the rise in response to consumer demands. In addition, the presence of significant key players will drive the growth of the gravy mixes market throughout the forecast period. As long as traditional recipes and spices continue to be used, penetration for gravy mixes will be low in the market.
Food packaging is of utmost importance when it comes to your product’s freshness, convenience, and safety. Flexible packaging can help manufacturers increase their product visibility at retail by printing attractive and custom-designed designs. Hence, sales of gravy mixes will increase in the market.
Besides being a more environmentally friendly packaging option, flexible packaging also requires fewer resources and less energy to manufacture than rigid packaging. Because flexible packaging is heat-resistant, food packed in these containers is safe for microwave use. In addition, the demand for flexible packaging for gravy mixes is expected to surge due to regulatory pressures driving more food sectors to seek sustainable packaging solutions in the market.
A variety of flexible packaging solutions have been developed for packaging gravy mixes to protect and preserve food products. The need for packaging that withstands the harshest environments has grown exponentially in the gravy mixes market. Food marketers are finding it increasingly important to minimize food waste and keep their food safe throughout the value chain; as a result, market demand for flexible packaging in the food industry is growing.
There is a constant evolution in grocery shopping behaviour. For brands and retailers, it is an ongoing question of adapting to the changing expectations of consumers to remain competitive in the market. Market share for e-retail distribution channels is projected to grow in the next few years. A growing number of new online retailers selling diverse food products on a small and large scale, resulting in a surge in demand for gravy mixes.
Gravy mixes are most popular in online retailers. Due to the wide range of products and attractive discounts, gravy mixes are expected to gain popularity among consumers on e-retail channels. Many regions are relying on these e-retailers for convenient home shopping for groceries.
Innovations in technology and numerous e-retailer apps currently available on the market are expected to grow demand for gravy mixes in the market. Growth in the market is challenging due to a fierce competitive environment. Gravy mixes are becoming increasingly popular primarily due to the availability of e-commerce apps that provide the fastest delivery of gravy mixes online.
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Gravy mixes have become increasingly popular, leading to numerous start-up companies offering traditional gravy mixes to the market. The global food packaging industry continues to demand packaging solutions that are safe and robust.
The nutritional value and personalization of pre-prepared frozen meals are generally lacking in ready-to-eat meals purchased from a store or microwaved. The products, however, offer an easy solution for those individuals who are short on time or don't possess the skills necessary to cook elaborate dishes.
The global gravy mixes market is very fragmented and competitive, with various local and regional rivals. Marketing tactics used by key companies include mergers and acquisitions, expansions, collaborations, and partnerships.
Some of the key participants present in the global Gravy Mixes market include Southeastern Mills, Inc., McCormick & Company, Inc., Campbell, Edward & Sons, Kent Precision Foods Group, Inc., Knorr, Food Club, Schwartz, Pioneer Foods, Suhana Masala, MountainKing Potatoes, Pioneer Gravy, Hellmann’s, ALCO FOODS PRIVATE LIMITED and Others.
The gravy mixes market is anticipated to reach USD 34,563.0 million by 2033.
Asia Pacific currently leads the market for gravy mixes and will continue to do so into the future.
Some of the key participants present in the global Gravy Mixes market include Southeastern Mills, Inc., McCormick & Company, Inc.,
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2033 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Origin 5.1. Organic 5.2. Conventional 6. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Product Type 6.1. Vegan 6.1.1. Brown Mushroom 6.1.2. Other 6.2. Non-vegan 6.2.1. Beef 6.2.2. Poultry 6.2.3. Pork 6.2.4. Other 7. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Packaging Type 7.1. Rigid Packaging 7.2. Food Cans 7.3. Jars 7.4. Flexible Packaging 7.5. Pouches 7.6. Sachets 8. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Distribution Channel 8.1. Modern Grocery Retail 8.2. Hypermarket/Supermarkets 8.3. Departmental Stores 8.4. Convenience Stores 8.5. Traditional Grocery Retail 8.6. Specialty Stores 8.7. Independent Grocery Stores 8.8. E-retail 9. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By End Use Industry 9.1. Household 9.2. Commercial Establishments 10. Global Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2033 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Southeastern Mills, Inc. 20.2. McCormick & Company, Inc. 20.3. Campbell 20.4. Edward & Sons 20.5. Kent Precision Foods Group, Inc. 20.6. Knorr 20.7. Food Club 20.8. Schwartz 20.9. Pioneer Foods 20.10. Suhana Masala 20.11. MountainKing Potatoes 20.12. Pioneer Gravy 20.13. Hellmann’s 20.14. ALCO FOODS PRIVATE LIMITED 21. Assumptions & Acronyms Used 22. Research Methodology
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