By 2033, the global gravy mixes market shows promise of reaching a market value of USD 34,563.0 million. Expanding at a surprising CAGR of 7.1%, this market is likely to end in 2023 with a valuation of USD 18,101.9 million.
This growth is owed mainly to augmenting consumer awareness of the health benefits of the gravy mixes. A gluten-free and low-sodium gravy mix pack is also available from gravy mix manufacturers to suit special dietary requirements.
The simplicity and convenience of gravy mixes are found appealing by all kinds of consumers- housewives in a hurry to cook for a large group of people, meals on weekends, or complicated spice mixes needed for preparing certain products. 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.
The popularity of convenience foods raises the demand for gravy mixes. 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. With the trend of quick-to-grab eateries, fast-food joints, and restaurants that need gravy mixes, the demand for these mixes has increased significantly.
Key Takeaways:
- The United States held a significant market share of 20.8% in the gravy mixes market in 2022, indicating the country’s strong position as a major player and its substantial consumer demand for convenient and flavorful gravy options.
- Germany, with a market share of 7.1%, demonstrates its presence and contribution to the gravy mixes market, reflecting the country’s culinary preferences and the availability of a diverse range of gravy mix products.
- Japan’s market share in the gravy mixes market stood at 4.0% in 2022, highlighting the country’s growing adoption of international flavours and the incorporation of gravy mixes in its cuisine, adding richness and depth to dishes.
- Australia contributed to the gravy mixes market with a market share of 2.7% in 2022, showcasing the country’s interest in quick and easy meal solutions and its appreciation for the convenience and taste that gravy mixes offer.
- China exhibits a robust compound annual growth rate (CAGR) of 11.1% in the gravy mixes market, indicating the country’s increasing consumer awareness and demand for convenient and ready-to-use gravy mixes as a way to enhance the flavour of their meals.
- India experiences a steady CAGR of 3.9% in the gravy mixes market, reflecting the country’s evolving culinary landscape and the rising interest in incorporating different flavours and culinary techniques, including the use of gravy mixes, in Indian cuisine.
- The United Kingdom showcases a CAGR of 4.8% in the gravy mixes market, reflecting the country’s ongoing demand for convenient meal solutions and its interest in exploring a variety of flavours and options when it comes to gravy mixes, adding depth and taste to traditional British dishes.
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Competitive Landscape
The global gravy mixes market is highly fragmented and competitive, featuring numerous local and regional players. Major companies in the sector employ a range of strategies, including mergers and acquisitions, expansions, collaborations, and partnerships, to strengthen their market position.
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.
Recent Developments
- In March 2023, Hellmann’s launched a new gravy mayonnaise to accompany its takeaway trio. Using its brand new takeaway-inspired condiment trio, the American-born brand hopes to connect Northerners and Southerners alike. As part of a new set of flavours, which also include Coronation and Chilli Charger, the condiment claims to be the first of its kind.
- In August 2023, MountainKing Potatoes collaborated with Pioneer, a long-time maker of rich, flavorful gravy mixes, to create a retail promotion for fall-time meals. A special Kwik Lok tag will be featured in November where MountainKing Butter Russets five-pound bags, offering .75 cents off any two Pioneer gravy mixes (2.75 oz. or smaller). To accompany any meal, each Pioneer gravy mix bag yields two cups.
Key Segments Profiled in the Gravy Mixes Industry Survey
Gravy Mixes Market by Origin:
- Organic Gravy Mixes
- Conventional Gravy Mixes
Gravy Mixes Market by Product Type:
- Vegan Gravy Mixes
- Brown Mushroom Gravy Mixes
- Other Gravy Mixes
- Non-vegan Gravy Mixes
- Beef Gravy Mixes
- Poultry Gravy Mixes
- Pork Gravy Mixes
- Other Gravy Mixes
Gravy Mixes Market by Packaging Type:
- Rigid Packaging
- Food Cans
- Jars
- Flexible Packaging
- Pouches
- Sachets
Gravy Mixes Market by Distribution Channel:
- Modern Grocery Retail
- Hypermarkets/Supermarkets
- Departmental Stores
- Convenience Stores
- Traditional Grocery Retail
- Specialty Stores
- Independent Grocery Stores
- E-retail
Gravy Mixes Market by End-Use Industry:
- Household
- Commercial Establishments
Gravy Mixes Market by Region:
- North America Gravy Mixes Market
- Latin America Gravy Mixes Market
- Europe Gravy Mixes Market
- Asia Pacific Gravy Mixes Market
- Middle East and Africa Gravy Mixes Market
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