Spice, Sauce and Condiment Industry
To get, for the spice, sauce and condiment industry, the industry trends/outlook, key drivers, customer demographics, pyschographics, user journey and competitive landscape for McCormick & Company.
Spice, Sauce and Condiment Industry: Overview
- The US Seasoning/spice, Sauce and Condiment industry is worth US$ 22 billion in 2019.
- The industry was growing at a CAGR of 1% between 2014 and 2019.
- Number of Businesses: 3,924
- Industry Employment: 38,338
- The companies holding the largest market share in the Seasoning, Sauce and Condiment Production in the US industry include McCormick & Company Inc. and The Kraft Heinz Company.
McCormick & Company
- Since 1889, McCormick & Company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry.
- The Company's consumer segment offers spices, herbs, and seasonings, as well as desserts, and markets them under various brand names.
- Its industry segment provides seasoning blends, spices and herbs, condiments, coating systems and compound flavors to multinational food manufacturers and foodservice customers.
- In 2018, the company's annual sales were US$ 5.3 billion. Sixty-one percent of its revenue came from its consumer segment, while 39% came from its industry segment.
- The company operates in 150 countries.
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