Dipping Oil Market: Introduction:
Dipping Oil is one kind of an oil that is used for dipping, frying, baking as well as marinating. Dipping oil is cold pressed with the olive, a traditional tree crop of the Mediterranean Basin. Dripping oil mainly consist of ingredients such as olive oil, extracts of black pepper, dried tomato, basil extracts and garlic. For maintaining its quality, dipping oil are being advised to be kept in cool dry place and away from direct sunlight. Dipping oil is famously being used in European regions specifically Italy, Greece, Morocco, Spain and other major parts of Western Europe. Dipping oil is generally being used to enhance flavor of several food products such as pastas, meat products, soups etc.
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Dipping Oil Market: Segmentation:
Dipping Oil market can be segmented into type, applications, end users and distribution channel.
On the basis of type, Dipping Oil is segmented into Mediterranean dipping oil, Sicilian dipping oil, Balsamic dipping oil, Moroccan dipping oil, Parmesan dipping oil and others (Tuscan dipping oil, Mediterranean dipping oil). Due to higher preference for Balsamic and Parmesan dipping oil, the value sales for these two types of oils is expected to surge in the forecast period.
On the basis of application, Dipping Oil is segmented into salad dressings, vinaigrettes, soup & sauces, Marinades & drizzles for meat products, seafood, fast food and roasted vegetables. Usually dipping oil are used for frying or drizzling meat products and also in the preparation of salad dressings. Hence the volume share for these two is being anticipated to be higher in the dipping oil market.
On the basis of end users, Dipping oil is segmented into retail and food service industry. Though there is high demand for dipping oil from both the segments, retail segment is expected to grow at a faster in terms of value sales due to higher demand for the product from the household sector.
On the basis of distribution channel, Dipping oil is segmented into direct and indirect channel. The indirect channel is further sub segmented into Hypermarket/Supermarket, Convenience store, Specialty store and E-Retailers. Due to easy availability of the product in modern stores such as hypermarket/Supermarket, the value share for indirect channel is being anticipated to be higher as compared to direct channel. Moreover, taking into account the rise in penetration level of internet in the global market, distribution through E- Retailers is expected to surge over the forecast period.
Dipping Oil Market: Regional Outlook:
The global Dipping Oil market has been categorized into seven key regions including North America and Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, and the Middle East & Africa. Dipping oil has higher preference in European regions especially Italy, Morocco, Spain and the Mediterranean regions. These regions has witnessed higher consumption rate of dipping oil year-on-year. As a result, Europe has major share in the global dipping oil market in terms of value sales. Moreover North America has witnessed rise in consumption of salad dressing and meat products. Since dipping oil is being used to enhance the flavor of salad dressing and marinating meat product, North America is being tagged as the emerging market for dipping oil.
Dipping Oil Market: Demand Driver:
There is a rise in consumption of fast foods in developed regions such as the North America and Europe. This factor could be attributed to rise in number of working women which results in busy lifestyle adopted by these kind of consumers. As a result, consumer look out for easy and convenient way of satisfying their hunger in their daily routine. There is a rise in trend in Europe of having fresh baked bread with dipping oil which can be consumed with Parmesan cheese, garlic powder and red pepper. It is being considered one of the convenient way of satisfying hunger in one’s daily hectic routine. Hence, the busy lifestyle factor can help drive the demand for dipping oil especially in European market.
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Dipping Oil Market: Key Players:
Some of the key players in this market are McCormick & Company, Inc., Chicken Scratch LLC, AAK(UK) Limited, WINDSOR VINEYARDS, Olivier Napa Valley, Greek Mama and others.