(I-BusinessNews.Com, June 13, 2021 ) The Mustard Market size is forecast to reach $2.37 billion by 2026, growing at a CAGR of 6.2% during the forecast period 2021-2026. The mustard plant is cultivated for its edible leaves and oilseeds with wide-ranging culinary use and is a seasonal crop grown in the winters. The increase in the application of mustard seeds in the food & beverage industry, pharmaceuticals, & others and increasing demand for mustard seeds in cooking is the major factor driving the growth of the market. Increasing use of mustard seeds as a substitute for other oils such as sunflower oil and other oils is set to further enhance the overall market demand for the Mustard Market during the forecast period 2021-2026.
Mustard Market Segment Analysis – By Form
The Seed held the largest share in the Mustard Market in 2020 and is estimated to grow at a CAGR of 6.81% during the forecast period 2021-2026. Brassica Nigra produces mustard seeds that are removed from their seed coats and are very small. They are ground into a spice or used whole to bring out the flavour. All plants of the mustard plant are edible, including the seeds, leaves, and flowers and is in the same genus as cabbage and turnips. Brown mustard seeds are less spicy than black and spicier than white mustard (Sinapis alba) seeds, as can be seen in most types of brown mustard condiments. White mustard seeds are milder than brown or black mustard seeds, but they still contain pungent flavour producers, especially sinalbin. Their heat stays mainly on the tongue rather than travelling up the nose, as it does with brown and black seeds. The heat is also shorter-lived than those varieties. Mustard seeds are high in essential oil and are a great source of plant sterols such as brassicasterol, campesterol, sitosterol, avenasterol, and stigmasterol. The seed is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
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Mustard Market Segment Analysis – By Applications
Food & Beverage held the largest share in the Mustard Market in 2020. Mustard is most often used as a condiment on cold and hot meats. It is also used as an ingredient in mayonnaise, vinaigrette, marinades, and barbecue sauce and is a popular accompaniment to hot dogs, pretzels, and bratwurst. Skin problems can be easily solved with the help of mustard seeds. Mustard seeds act as an extremely effective exfoliator. Like any other scrub, mustard seeds remove all the excess oil from the skin and replenish your skin back to its freshness. When mixed with aloe vera gel, mustard seeds can keep the skin hydrated at all times. Not only do they remove all the dirt and impurities from the skin, but also keep the skin moisturized. Food & Beverage is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2021-2026.
Mustard Market Segment Analysis – By Geography
Asia Pacific dominated the Mustard Market in 2020 with a share of more than 36.77%, followed by Europe owing to the growing consumer interest towards different taste preferences and eating habits. The rising trend of using more and more herbal and natural medicinal products coupled with rising awareness is increasing the growth of the Mustard Market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the rising awareness among consumers about the beneficial mustard herbs.
Mustard Market Drivers
Increased imports of mustard seeds
Increased import of mustard seed is increasing the growth of the Mustard Market owing to the wide range of mustard seed applications including flavoring agents in different food dishes, mayonnaise and dips, preparing condiments such as table mustard, and many more. Mustards seeds are an essential source of essential vitamins including, B-complex vitamins such as folates, niacin, thiamin, riboflavin, vitamin B-6, and pantothenic acid thus, increasing the synthesis of enzymes needed for the functioning of the nervous system and help in the regulation of body metabolism. Furthermore, oil extracted from mustard seeds is traditionally being used to relieve muscle pain, arthritis pain, for cancer risk prevention, asthma, and several other body ailments. Thus, increasing the growth of the Mustard Market during the forecast period 2021-2026.
Emergence of multi culinary food culture
The emergence of multi culinary food culture is increasing the growth of the Mustard Market. The choice of food practices is mostly been evaluated in light of the maintenance of cultural identity in migrant populations. Mustard has unique functional properties that can be applied to many foods, depending on the type of mustard ingredient used. It provides emulsification, stability, water, and fat binding, preservative, and nutritive properties to foods. It is primarily used in the meat industry as an emulsifier, a water-binding agent, and a filler in cooked, cured meats. Honey mustard dressing is filled with nutrients, such as omega-3 fatty acids, selenium, fiber, protein, magnesium, iron and calcium. Regular mustard (without de-heating) is used as a flavouring agent or as a preservative in various meat products such as hot dogs, bologna, sausages, and salami. Thus, increasing the growth of the Mustard Market during the forecast period 2021-2026.
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Mustard Market Challenges
High cost and increasing competition among manufacturers
Some of the factors that is set to impede the growth of the Mustard Market are high cost and increasing competition among manufacturers.
Mustard Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Mustard Market. In 2020, the Mustard Market share is consolidated by the top ten players present in the market. Mustard Market, the top 10 companies are Conagro Brands Inc., McCormick Foods, Unilever, Mustard and Co., H.J. Heinz Company, French’s, and Cargill Inc. among others.
Acquisitions/Product Launches
In November 2017, Unilever acquired Sir Kensington’s, a mission-driven company and a pioneer and leader in condiments sold in the organic and natural marketplace.
Key Takeaways
The Asia Pacific dominated the Mustard Market in 2020 owing to the growing consumer interest in different taste preferences and eating habits. The Mustard Market scope for different regions will be provided in the final report.
Increased imports of mustard seeds and rising migration levels with the emergence of multi culinary food culture and urge for new taste and food flavours are likely to aid in the market growth of the Mustard Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Mustard Market report.
High cost and increasing competition among manufacturers is poised to create hurdles for the Mustard Market.
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