Market Size of Mustard Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.87 Billion |
| Market Size (2029) | USD 9.10 Billion |
| CAGR (2024 - 2029) | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Africa |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mustard Market Analysis
The Mustard Market size is estimated at USD 6.87 billion in 2024, and is expected to reach USD 9.10 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).
According to data provided by National Commodity & Derivatives Exchange Limited, it is a significant oilseed crop that produces roughly 14% of the world's vegetable oil production. After palm and soybean oil, mustard is among the top three vegetable oil sources (NCDEX). India is the leading producer of mustard in Asia, and mustard oil is the principal cooking oil in Indian cuisine. At the same time, the uses for the defatted mustard cake include animal feed and fertilizer. The market is projected to be significantly increasing for mustard oil in the upcoming years because mustard seeds are increasingly used in food and beverage, pharmaceutical, personal care, cosmetic, and other industries.
Mustard seed is another excellent source of protein. This crop's seed is also high in fiber, erucic acid, palmitic acid, tocopherols, tocotrienols, carotene, oryzanol, squalene, and thiamine, among other minerals, vitamins, antioxidants, and phytonutrients.
COVID-19 had a significant effect on the market. This was due to the health benefits that the mustard carries with it, such as blocking microbial growth, promoting skin health, reduces inflammation. The consumer's consciousness towards the health benefits has tremendously dragged the per capita spending towards the mustard market. McCormick & Company, which is one the major players in the industry, has estimated growth of 26% in sales of french's mustard during fiscal 2021.
Currently, scientists are looking for nitrate-free alternatives to preserve meat products. The shelf life of meatballs can be increased by mixing ground mustard into the mixture. White mustard-based products received a better sensory review than controls or those made with black and brown mustard. The inclusion of mustard efficiently stops microbial growth in the final product. Therefore, mustard has vast application opportunities.
