Gravy Mixes Market

Gravy Mixes Market Size and Forecast (2023-2028):

The Global Gravy Mixes Market size is expected to grow at a CAGR of 7.1% during the forecast period 2023-2028 to reach USD 25.15 billion by 2028 from USD 17.23 billion in 2022.

Market Overview:

Convenient culinary products, the gravy mixes are created to make it easier to prepare outstanding gravy. These mixes provide a quick and easy way to produce rich, savory gravies or curries for dishes like roast meats, mashed potatoes, and much more. They typically consist of a blend of seasonings, thickeners, and sometimes dehydrated meat drippings. Just mix the contents of the package with water or other liquids, then heat the mixture until the appropriate consistency is obtained. To fit a range of tastes, gravy mixes are available in various flavors, including traditional, mushroom, turkey, etc. They are an increasingly common option for home cooks who want to make tasty gravy with quick and minimal effort.

Recent Developments in the Gravy Mixes Industry:

• In August 2023, MountainKing Potatoes partnered with Pioneer, a well-known producer of savory, thick, flavorful gravy mixes, to develop a retail campaign for meals during the fall season.

REPORT COVERAGE:

Drivers:

The growing demand for convenience foods is a major driver propelling the gravy mixes market growth. Gravy mixes offer an easy and quick means to enhance the flavor of dishes without spending a lot of time cooking in today's fast-paced lifestyles. They are an attractive choice for consumers wishing to simplify meal preparation due to their ease of use, extended shelf life, and variety. Gravy mixes are an essential component in the convenience food market because they offer constant flavor and convenience for both regular meals and special occasions, perfectly balancing the current search for quick, reliable, and delicious culinary alternatives. Therefore, this attribute is majorly boosting the market demand.

The flavor enhancement factor is another significant driver fueling the increasing demand for gravy mixes. The gravy mixes products seamlessly enhance the flavor of consumers' meals, transforming basic food into delicious food experiences. Gravy mixes provide a consistent approach to adding rich, savory, and well-seasoned flavors to numerous dishes. For those seeking to boost their home-cooked meals without the effort of sourcing and mixing particular ingredients, this flavor enhancement feature is very appealing. The growing demand for convenient and tasty flavor enhancement in regular cooking, gravy mixes are in high demand, influencing the market shares.

The availability of healthier gravy mixes in the market is further driving the market expansion as dietary preferences and consumer well-being become more important. Manufacturers of gravy mixes respond to the demand from health-conscious consumers for options that are consistent with their dietary requirements by providing healthier gravy mix alternatives. These alternatives, which cater to a wide range of dietary preferences, frequently include low fat, reduced salt, organic ingredients, or clean labels. The availability of healthier gravy mixes has emerged as a significant component driving market growth as more consumers seek ways to enjoy flavorful meals without compromising on health.

Restraints:

The consumption of traditional spice mixes is an obstacle to the gravy mixes market demand. Many people prefer homemade spice mixes over pre-packaged gravy mixes because of their distinctive flavors and authenticity. Traditional spice mixes are preferred as it is possible to alter the flavor profile and align with gravies to specific tastes and regional preferences. Natural herbs and spices are a further choice that health-conscious people could use when making gravies since they consider them to be a healthier option. The market's wider adoption of gravy mixes faces challenges from this preference for traditional and customizable options along with a rising interest in culinary authenticity. Hence, this attribute is contributing to a decline in the market demand.

Also, the high cost of raw materials presents a notable restraint on the gravy mixes market growth. Increased costs for thickeners, flavorings, spices, and other ingredients can result in higher production costs and, ultimately, higher retail pricing. This may push away consumers who are price-sensitive and affect manufacturers' profit margins in a sector where competition is already intense. It becomes challenging to maintain consistent product quality, and methods for reducing costs might reduce gravy mix quality as a whole.

Opportunities:

The surging demand for vegan and gluten-free gravy mixes offers a significant growth opportunity for the market during the anticipated period. As dietary restrictions and preferences continue to change, gravy mix manufacturers are likely to consider targeting this particular market segment. Beyond vegans and people with gluten sensitivities, the market can reach a wider consumer base by increasing product categories, focusing on health benefits, and promoting inclusion. A focus on sustainability, the use of plant-based ingredients, online shopping strategies, and restaurant collaborations can all help to increase the appeal of vegan and gluten-free gravy mixes. Grabbing this opportunity is possibly aligned with the market's potential for growth and innovation at a point when consumers are more health-conscious and looking for allergen-friendly and vegan alternatives in the coming years.

COVID-19 Impact on Gravy Mixes Market:

The COVID-19 pandemic had several impacts on the gravy mixes market growth. During this time, people preferred to stay at home due to stringent regulations and lockdowns, which influenced cooking practices. This factor majorly promoted the adoption of gravy mixes in households as people were trying out new ways to make their foods delicious and healthy. This positive side of the pandemic significantly boosted the market demand. However, on the other hand, the restricted supply chains, shortage of raw materials, and challenges in production & distribution majorly affected the market expansion during the lockdowns.

Gravy Mixes Market Segmentation Analysis:

By Origin:

• Organic
• Conventional

By origin, the organic segment is anticipated to dominate the gravy mixes market share during the forecasted period. As organic gravy mixes are made from organic ingredients, without adding any synthetic additives, they are in high demand, boosting market growth. However, the conventional segment is expected to grow at the fastest rate during the projected period. Though these gravy mixes are made from non-organic ingredients, their affordability is attracting a large consumer base, leading to influencing the market shares.

By Product Type:

• Vegan
  • Mushroom
  • Others
• Non-vegan
  • • Beef
    • Poultry
    • Pork
    • Others

By product type, the non-vegan segment is ruling the gravy mixes market demand during the projected period. Non-vegan gravy mixes include ingredients like dairy, beef, poultry, pork, or other products derived from animals, giving them a rich, classic flavor. This helps to enhance the flavors of many dishes, contributing to boosting the market demand for this segment. However, the vegan segment is expected to grow at a healthy CAGR during the forecasted period. As the demand for plant-based products is increasing rapidly, these vegan gravy mixes, such as gravy blends made from mushrooms, satisfy those who are following vegan diets. Therefore, with the rising veganism trend, there is an increase in the market demand for this segment. 

By Packaging Type:

• Rigid Packaging
• Food cans
• Jars
• Flexible Packaging
• Pouches
• Sachets

By packaging type, the flexible packaging segment is dominating the gravy mixes market share during the anticipated period. This segment involves materials like pouches or sachets as this type of packaging is lightweight, easy to carry, and additionally offers more convenience due to their easy-to-pour and resealable properties. This factor is greatly influencing the market shares. At the same time, the rigid packaging segment is expected to grow at the fastest rate during the forecasted period. This segment includes jars, cans, etc., which offer durability and protection against any physical damage. Also, these are the mixes with a longer shelf life, overall contributing to an increase in the demand for this segment.

By End Use:

• Households
• Commercial establishments

By end use, the household segment is anticipated to dominate the gravy mix market demand during the projected period. Gravy mixes are used in households to enhance the flavor of a variety of dishes, including roast dinners and regular meals. As they provide convenience with delicious offerings, demand for gravy mixes in this segment is accelerating rapidly. However, the commercial establishments segment is deemed to grow significantly during the forecasted period. Gravy mixes are commonly used by commercial establishments like restaurants, food service providers, and catering services to speed up their culinary processes, ensure consistency in flavor and texture, and save the time required for food preparation. This attribute significantly promotes market expansion.

By Distribution Channel:

• Modern Grocery Retail
• Hypermarkets/Supermarkets
• Departmental Stores
• Convenience Stores
• Traditional Grocery Retail
• Specialty Stores
• Independent Stores
• E-retail

Modern grocery retail segment is leading with the largest shares of the market whereas hypermarkets/supermarkets segment is growing at higher rate. Growing urban areas is majorly elevating the growth rate of these segments.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

By region, North America is anticipated to rule the market share during the forecasted period. Gravy mixes are used for making traditional meals; they are also used in everyday cooking, which makes this region a sizable market for these gravy mixes. Furthermore, there is an increasing demand for convenience foods in this region, pushing the market size forward. However, the Asia Pacific region is deemed to grow at the fastest CAGR in the upcoming years. Growing urbanization, busy lives, and rising interest in Western-style culinary creations are the main factors driving this region's gravy mixes market demand.

Key Players in the Market:

Major Key Players in the Global Gravy Mixes Market are

• 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 LTD