The global traditional balsamic vinegar market is experiencing robust growth, driven by the preservation trend in food. With vinegar recognized for extending the shelf life and nutritional value of various food items, the demand for traditional balsamic vinegar is amplifying over the forecast period. Furthermore, the surge in demand for ready-to-eat food products is bolstering the market. Evolving dietary habits, increasing disposable incomes, and hectic lifestyles are fueling the popularity of convenient food choices, contributing to the market's sustained expansion.
According to Data Bridge Market Research, the Global Traditional Balsamic Vinegar Market was valued at USD 1.30 billion in 2021 and is expected to reach the value of USD 2.17 billion by 2029, at a CAGR of 6.60% during the forecast period of 2022 to 2029.
“Escalating demand for traditional balsamic vinegar among end-users drive the market growth”
The escalating demand for traditional balsamic vinegar among end-users serves as a compelling driver in the global market. As consumers increasingly appreciate the distinct flavors and culinary value of traditional balsamic vinegar, its popularity has surged. This demand is driven by both gourmet enthusiasts and health-conscious consumers, drawn to its versatile usage and perceived health benefits. The expanding consumer base seeking authentic, high-quality culinary experiences is fueling the market's growth, with traditional balsamic vinegar becoming a sought-after ingredient in diverse cuisines worldwide.
What restraints the growth of the global traditional balsamic vinegar market?
“Fluctuating prices of raw materials”
The global traditional balsamic vinegar market faces a restraint in the form of fluctuating prices of raw materials. The production of traditional balsamic vinegar relies on specific grape varieties and meticulous aging processes. Any fluctuations in the prices of these raw materials, including grapes and barrels, can significantly impact production costs. Such volatility can disrupt the supply chain and pose challenges for producers in maintaining consistent product quality and pricing. This constraint potentially hampers market growth as producers grapple with cost uncertainties and potential disruptions to their production processes.
Segmentation: Global Traditional Balsamic Vinegar Market
The traditional balsamic vinegar market is segmented on the basis of type, flavour, usage, application, and distribution channel.
- On the basis of type, the traditional balsamic vinegar market is segmented into traditional balsamic vinegar of modena, traditional balsamic vinegar of reggio emilia, and balsamic vinegar of Modena.
- On the basis of flavour, the traditional balsamic vinegar market is segmented into sweet, sour.
- On the basis of usage, the traditional balsamic vinegar market is segmented into salad dressings, marinade, and sauces.
- On the basis of application, the traditional balsamic vinegar market is segmented into household, and commercial.
- On the basis of distribution channel, the traditional balsamic vinegar market is segmented into hypermarket/supermarket, convenience stores, specialty stores, grocery stores, and online retailing.
Regional Insights: Europe dominates the Global Traditional Balsamic Vinegar Market
Europe is poised to maintain its dominance in the traditional balsamic vinegar market during the forecasted period. The region's supremacy is primarily attributed to the surging commercialization efforts undertaken by businesses. Furthermore, emerging countries such as Italy, in Europe, are witnessing an increased appetite for premium vinegar products. This demand surge not only drives market growth but also establishes Europe as a pivotal player in the global traditional balsamic vinegar landscape.
Asia-Pacific is set to emerge as a growing force in the traditional balsamic vinegar market. This shift is underpinned by the escalating demand for traditional balsamic vinegar across the region. Additionally, the awareness of the health benefits associated with balsamic vinegar is on the rise, further propelling its consumption. This dual push of increasing demand and heightened health consciousness is expected to drive significant market growth in the Asia-Pacific region.
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Recent Developments in Global Traditional Balsamic Vinegar Market
- In February 2022, Scarlets proudly unveiled a partnership with iPRO. This collaboration entails iPRO's supply of its wholesome isotonic iPRO Sport Edition line to women, age-grade, and senior teams. Beyond beverage provision, the partnership also emphasizes environmental responsibility by introducing recyclable hardware, aiming to reduce reliance on single-use plastic water bottles.
- In a significant move in November 2021, Coca-Cola announced an unprecedented acquisition, expanding its influence in the sports drink sector. The company revealed its acquisition of an 85% stake in BodyArmor for a notable USD5.6 billion, marking the largest acquisition in Coca-Cola's history. This strategic step followed Coca-Cola's initial purchase of a 15% stake in BodyArmor back in 2018.
The Prominent Key Players Operating in the Global Traditional Balsamic Vinegar Market Include:
- Kerry Group plc. (Ireland)
- The Burg B.V. (Netherlands)
- Lee Kum Kee. (Hong Kong)
- qianhefood.com. (China)
- Fontanara S.r.l. (Italy)
- aceto scaligero (Italy)
- Shanxi Shuita Vinegar Co., Ltd. (China)
- The Kraft Heinz Company. (U.S.)
- PONTI S.p.A. (Italy)
- Fischerauer Feinstes GmbH (Austria)
- Mizkan Holdings Co., Ltd. (Japan)
- Lehmann Food Ingredients.(U.K.)
- Porta Hermanos S.A. (Argentina)
- Acetificio Varvello S.r.l. (Italy)
- Acetaia Montale Rangone Srl (Italy)
- Acetum (Italy)
- Monari Federzoni SpA (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of global traditional balsamic vinegar market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Traditional Balsamic Vinegar Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
