Global Vinegar Market Spurred by Therapeutic Properties & Versatility in Uses
Driven by its multiple uses, the global vinegar market has been growing continuously over the past decade. This market was worth US$ 1.23 Billion in 2015. It is further anticipated to grow at a CAGR of 2.8% during 2016-2021, reaching US$ 1.44 Billion by 2021.
Vinegar is a sour-tasting liquid prepared by the fermentation of dilute alcoholic liquids - typically wine, cider or beer. Being a good source of vitamin B-1, riboflavin as well as mineral salts, vinegar has been considered as an essential ingredient in food preparations for centuries. Its tangy taste reduces the need for salt in many soups and bean dishes. Although mainly used as a flavouring and preserving agent in the food and beverage industry, vinegar has gained prominence across various other industries due to its innumerable benefits. The therapeutic properties of vinegar has enabled its applications in the healthcare industry. Vinegar helps to reduce cholesterol levels, control blood sugar levels, replace unhealthy sodium and combat diabetes, weight loss and cardiovascular diseases. Moreover, it also acts as a natural cleaning agent due to its antimicrobial properties, thereby facilitating its usage in the cleaning industry as well. Further, vinegar also finds applications in the agriculture industry where it is used as a herbicide.
Driven by its multiple uses, the global vinegar market has been growing continuously over the past decade and according to research analysts at IMARC Group, this market was worth US$ 1.23 Billion in 2015. It is further anticipated to grow at a CAGR of 2.8% during 2016-2021, reaching US$ 1.44 Billion by 2021.
Versatility of vinegar to bolster the growth of the global vinegar market
Vinegar has multifunctional properties and is gaining popularity among consumers as new blends, applications and specialty products continue to enter the market. The increasing usage of vinegar in various cuisines has led to an increase in the global demand for vinegar. This is due to the consumers’ growing interest in cooking different types of cuisines which require different dressings that have vinegar as one of the essential ingredients. Other factors that have influenced the demand for vinegar include population growth, rising disposable incomes, increasing health consciousness and growing food and beverage industry.
Balsamic vinegar represented the largest vinegar category
The global vinegar market can be segmented on the basis of product type - balsamic vinegar, white vinegar, red wine vinegar, cidar vinegar and rice vinegar. Each of these types has a very different and useful purpose. Among these, balsamic vinegar exhibited a clear dominance in the market accounting for nearly 30% of the total global market.
On a geographical front, the market has a presence in many countries across the globe. Europe was the world’s largest market accounting for more than half of the total global market share. In Europe, Italy represented the largest market and the world’s largest exporter of vinegar. Europe was followed by North America and Asia-Pacific.
Aggressive marketing and control over production levels capable of buoying businesses
The highly fragmented global market for vinegar features a number of small and big players operating in the market. Some of the key players are Acetificio Acetum S.R.L, Acetificio Marcello De Nigris, Aspall, Burg Groep B.V., Castelo Alimentos S/A, Fleischmann’s Vinegar Company, Inc., Heinrich Frings GmbH & CO KG, Heinz U.S.A, Mizkan Americas, Inc., Monari Federzoni S.P.A., National Vinegar Company, Old Dutch Mustard CO., Inc., Ponti S.P.A., Porta Hnos S.A. and Reinhart Foods Limited. The global vinegar market is a consumer-oriented industry with keen competition among its players, as a result of which, companies need to reinvent business and market strategies for their survival. Some of the success factors that will ensure greater output and higher profitability include Improving the product quality, aggressive marketing, manufacturing efficiency and a strong distribution network.
For more information on the vinegar industry, please visit: http://www.imarcgroup.com/vinegar-manufacturing-plant
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ABOUT THE AUTHOR
IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the vinegar industry, which has enabled the clients to successfully setup and expand their businesses. Some of the company’s offerings include:
For more information please visit: http://www.imarcgroup.com/