The condiments market size is estimated to grow by $44 billion from 2024 to 2028, according to a new report from Technavio.

The market is estimated to grow at a CAGR of almost 4.4% during that timeframe. Frequent product launches are driving market growth, with a trend towards increase in new deals and acquisitions, according to Technavio.

“However, frequent warnings and product recalls in the global condiments market poses a challenge.”

Vendors in the global condiments market are strategically expanding their reach in regional and international markets to expand their customer base, according to the report.

They’re also pursuing new distribution deals with organized retailers and local distributors to efficiently penetrate new markets.

For instance, Nestle SA completed the acquisition of The Bountiful Company’s core brands in August 2021, and the Kraft Heinz Company and Simplot Food Group signed a long-term agreement in February 2022, making Simplot the exclusive manufacturer and supplier of Ore-Ida.

“Such strategic collaborations will significantly contribute to the growth of the global condiments market in the forecast period.”

The condiments market is experiencing notable trends, with calcium-fortified yellow mustard sauce gaining popularity due to its health benefits for bones and teeth, according to the report.

Cultural influences from Western and international cuisines, such as Chinese, Japanese, Thai, Indian, and ethnic food variants, are driving demand for exotic condiment ingredients, and ready-to-serve meals, street foods, and foreign cuisine are increasingly popular among young adult customers.

Digital technology and delivery services like Deliveroo, meanwhile, are transforming the market, enabling easy access to a wide range of sauces, pickles, and sauce mixtures. Natural ingredients, veganism trend, and plant-based diets are also shaping the culinary landscape.

Brands like Kikkoman soy sauce, tomato ketchup, hot sauce, mayonnaise, mustard sauce, and Mother’s Recipe continue to dominate the market, while millennials prefer vegan-friendly and natural condiments, according to Technavio.

“The rising disposable incomes and expanding urbanization are fueling the growth of the condiments market.”