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This statistic highlights McCormick & Co’s Revenue by Region, split across the United States, EMEA (Europe, Middle East, and Africa), and other countries, reported annually from 2013 onwards.
|Revenue by Region||2016||2017||2018||2019||2020||Contribution in 2020|
(All figures are in billions, except percentages)
McCormick generates a major part of its revenue from the sale of its products in the United States. In 2020, 61.50% of its revenue was generated from the United States while only 19.78% of the revenue was generated from other countries. This was followed EMEA countries contributing 18.72% to the total revenue of the company in 2020.
Distribution of Region-wise Revenue is bifurcated in the following way:
The United States
Constituting the major part of revenue, it contributes 61.50% to the total revenue in the year 2020. In 2020, the company generated $3.45 billion from the sale of its products in this region.
A huge rise in the share of United States in the company’s revenue is witnessed in the past 5 years. This is evident from the statistics, as revenue rose from $2.57 billion to $2.86 billion in 2016 and 2017 respectively, indicating 11.28% incline in revenue. Further, this increase in revenue continued as revenue rose from $2.86 billion to $3.27 billion in 2017 and 2018 respectively, registering an increase of about 14.33%. This incline was interrupted as revenue declined to $3.23 billion in 2019, indicating a meagre decline of 1.22%. Again, the revenue increased by 6.811%, from $3.23 billion in 2019 to $3.45 billion in 2020. Overall, revenue rose from $2.57 billion to $3.45 billion from 2016 to 2020. This indicates about 25.50% of the increase in the revenue. This region continues to have the largest share in revenue in the past 5 years (2016 to 2020).
EMEA consists of the regions of Europe, the Middle East, and Africa. With a mere 18.72% share in total revenue, the EMEA has the lowest share in the company’s revenue in the year 2020. The company has managed to generate just $1.05 billion by the sale of its products in this region in the year 2020. However, the revenue rose from $896 million in 2016 to $956 million in 2017, accounting for 6.69% of the increase. Further, this revenue increased to $1.02 billion in 2018. This indicated the same growth rate in revenue of 6.69%. Further, the revenue declined to $986 million, which indicated minor decrease of 3.33%. However, there has been an increase of about 17.18% in the revenue generated by the EMEA region in the previous 5 years. Its revenue has risen from $896 million in 2016 to $1.05 billion in 2020. Despite this rise, this region still had the lowest share of the revenue during the period from 2016 to 2020.
This region consists of Asian Pacific Countries. The company generated total revenue of $1.11 billion in the year 2020. This accounts for about 19.78% of the total revenue of the company for the year 2020.
During the period from 2016 to 2020, the revenue for the region has shown an upward rise. Revenue rose from $952 million to 1.02 billion from 2016 to 2017 respectively. This showed an incline of 7.14%. It has risen from $952 million to $1.11 billion from 2016 to 2020. This marks an overall increase of 16.59% in the share of revenue generated.
Currently, headquartered in Maryland (United States), McCormick & Co offers its products across more than 160 countries. It was established by Willoughby M. McCormick in the year 1889. It is also a part of the Fortune 500 companies. Its consumer segment is extended to more than 300 products. Based on revenue, it is the largest producer of spices and related food products worldwide.
The company’s main source of revenue can be attributed to the manufacturing, marketing, and distribution of spices, seasoning mixes, and condiments. The retail range extends to recipe mixes, extracts, marinades, stocks, broths, bouillons, sauces, toppings, homemade desserts, rice mixes, and salad dressings.McCormick also offers branded food services, products flavorings, coating systems, condiments as well as ingredients. It extends such services to food manufacturers, foodservice operators, and restaurants all over the globe.
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