McCormick & Société, Incorporated (MKC): Business Model Canvas [Jan-2025 Mise à jour]

McCormick & L'entreprise transforme le monde de la saveur grâce à un modèle commercial sophistiqué qui mélange l'innovation culinaire, l'approvisionnement mondial et les partenariats stratégiques. Des tables de cuisine des cuisiniers à domicile aux cuisines professionnelles animées des restaurants renommés, cette puissance d'épices et d'assaisonnement a méticuleusement conçu une approche complète qui va bien au-delà de la simple vente d'herbes et d'épices. En tirant parti d'un réseau complexe de fournisseurs mondiaux, d'installations de recherche de pointe et d'une compréhension approfondie des goûts des consommateurs, McCormick s'est positionné comme un leader dans l'industrie des saveurs, offrant des expériences de goût authentiques de haute qualité qui atténuent les palais à travers divers segments de marché de marché .

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques d'épices, d'herbes et d'ingrédients de saveur dans le monde entier

McCormick maintient des partenariats stratégiques avec des fournisseurs d'épices mondiaux sur plusieurs continents:

Région	Pays de fournisseurs clés	Volume de l'approvisionnement annuel
Asie	Inde, Indonésie, Vietnam	45 000 tonnes métriques d'épices
Afrique	Madagascar, Éthiopie, Tanzanie	22 000 tonnes métriques d'herbes
l'Amérique latine	Mexique, Brésil, Pérou	18 000 tonnes métriques d'ingrédients de saveur

Partenariats agricoles avec les agriculteurs mondiaux et les producteurs d'épices

McCormick collabore avec environ 4 500 agriculteurs mondiaux grâce à des partenariats agricoles directs:

• Programmes d'approvisionnement durable couvrant 65% des fournisseurs agricoles directs
• Certification du commerce équitable pour 40% des fournisseurs de poivre et de vanille
• Investissement direct de 12,3 millions de dollars dans les programmes de formation des agriculteurs

Collaborations de fabrication des aliments et de la restauration

Type de collaboration	Nombre de partenaires	Revenus collaboratifs annuels
Fabricants d'aliments	127 partenaires d'entreprise	356 millions de dollars
Chaînes de restaurants	83 partenariats de restaurants	214 millions de dollars

Partenariats de recherche et développement avec les institutions culinaires

McCormick investit dans des collaborations de recherche avec:

• 7 grandes universités de recherche culinaire
• Investissement annuel de R&D de 94,5 millions de dollars
• 3 centres d'innovation dédiés dans le monde

Accords de distribution avec les principaux réseaux d'épicerie et de services alimentaires

Canal de distribution	Nombre de partenaires	Volume de distribution annuel
Détaillants d'épicerie	215 chaînes nationales et régionales	2,1 milliards de dollars de ventes
Distributeurs des services alimentaires	94 réseaux commerciaux	1,7 milliard de dollars de ventes

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: activités clés

Épices et assaisonnement du développement et de l'innovation des produits

En 2023, McCormick a investi 98,4 millions de dollars dans les efforts de recherche et développement. La société maintient 15 centres d'innovation mondiaux axés sur le développement des saveurs.

Métrique d'innovation	2023 données
Lancements de nouveaux produits	47 nouvelles combinaisons de saveurs
Demandes de brevet	12 brevets de technologie de nouvelles saveurs
Centres d'innovation	15 emplacements mondiaux

Source mondial et contrôle de la qualité des ingrédients bruts

McCormick s'approvisionne dans 85 pays à travers le monde, avec un budget d'approvisionnement annuel de 1,2 milliard de dollars.

• Relations directes avec 2 300 fournisseurs agricoles
• Programmes d'approvisionnement durable couvrant 70% des ingrédients clés
• Tests de contrôle de la qualité à 22 installations mondiales d'assurance qualité

Fabrication et emballage de produits de saveur

McCormick exploite 26 installations de fabrication dans le monde, avec une capacité de production de 1,5 million de tonnes d'épices et d'assaisonnements par an.

Métrique manufacturière	2023 données
Installations de fabrication	26 emplacements mondiaux
Capacité de production annuelle	1,5 million de tonnes
Efficacité de fabrication	92% d'efficacité opérationnelle

Marketing et gestion de la marque

McCormick a alloué 215 millions de dollars aux dépenses de marketing en 2023, le marketing numérique représentant 42% du budget marketing total.

• Actif dans 170 pays
• 22 portefeuilles de marque majeurs
• Suivi des médias sociaux: 3,5 millions sur toutes les plateformes

Recherche de produits culinaires des consommateurs et professionnels

La société mène une vaste recherche sur les consommateurs avec un budget annuel de 45,6 millions de dollars, engageant 75 000 consommateurs dans les tests de goût et le développement de produits.

Métrique de recherche	2023 données
Budget de recherche	45,6 millions de dollars
Engagement des consommateurs	75 000 participants
Consultations de chef professionnels	680 professionnels culinaires

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: Ressources clés

Réseau mondial de la chaîne d'approvisionnement mondiale

McCormick exploite une chaîne d'approvisionnement mondiale couvrant 27 pays avec 19 installations de fabrication dans le monde. L'entreprise s'approvisionne dans les ingrédients de plus de 80 pays.

Métrique de la chaîne d'approvisionnement	Données quantitatives
Installations de fabrication	19
Pays d'opération	27
Pays d'approvisionnement en ingrédient	80+

Grande réputation de marque

McCormick tient un 70% de part de marché sur le marché des épices et de l'assaisonnement grand public aux États-Unis.

Installations de recherche et développement avancées

• 3 centres de R&D dédiés dans le monde entier
• Investissement annuel de R&D de 60 millions de dollars
• Plus de 200 scientifiques et chercheurs de l'alimentation

Technologies de formulation de saveurs propriétaires

McCormick possède 250+ brevets actifs liés aux technologies de saveur et au traitement des ingrédients.

Main-d'œuvre qualifiée

Métrique de la main-d'œuvre	Données quantitatives
Total des employés	13,000+
Mandat moyen des employés	8,5 ans

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: propositions de valeur

Solutions de saveurs de haute qualité et cohérentes pour les consommateurs et les professionnels

McCormick & La société propose des solutions de saveurs avec 6,18 milliards de dollars de revenus annuels à partir de 2023. La société produit plus de 11 500 répercussions de produits sur les marchés mondiaux.

Catégorie de produits	Part de marché mondial	Contribution annuelle des revenus
Épices de consommation	45%	2,78 milliards de dollars
Service de restauration professionnelle	22%	1,36 milliard de dollars
Solutions de saveurs industrielles	33%	2,04 milliards de dollars

Large gamme d'épices, d'herbes et de produits d'assaisonnement

McCormick maintient un portefeuille complet de produits avec une distribution mondiale dans 170 pays.

• Portfolio d'épices: 450+ variétés d'épices individuelles
• Collection d'herbes: 250+ types d'herbes
• Mélanges d'assaisonnement: 700+ combinaisons uniques

Expériences de goût innovantes et authentiques

L'investissement en R&D de 122 millions de dollars en 2023 s'est concentré sur l'innovation des saveurs et le développement de produits.

Domaine de mise au point de l'innovation	Investissement annuel
Recherche sur les saveurs	62 millions de dollars
Développement	48 millions de dollars
Analyse des tendances culinaires	12 millions de dollars

Marque de confiance avec des générations d'expertise culinaire

Fondée en 1889, McCormick possède 135 ans d'histoire opérationnelle continue avec reconnaissance de la marque dans 98% des ménages américains.

Ingrédients durables et d'origine éthique

Les investissements en durabilité totalisant 85 millions de dollars en 2023, avec 62% des ingrédients provenant des programmes de chaîne d'approvisionnement éthique.

• Régions d'approvisionnement durable: 24 pays
• Programmes de soutien des agriculteurs: plus de 15 000 agriculteurs engagés
• Cible de réduction du carbone: 25% de réduction d'ici 2025

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: relations avec les clients

Engagement direct à la consommation via des plateformes numériques

McCormick exploite des plateformes numériques avec 2,5 millions d'utilisateurs enregistrés en 2023. Leurs téléchargements d'applications mobiles ont atteint 750 000 au quatrième trimestre 2023. Le trafic du site Web a augmenté de 42% d'une année à l'autre.

Métriques de plate-forme numérique	2023 données
Utilisateurs enregistrés	2,500,000
Téléchargements d'applications mobiles	750,000
Augmentation du trafic du site Web	42%

Ressources d'inspiration de recette et de cuisine

McCormick fournit plus de 15 000 recettes en ligne sur les plateformes numériques. Leur canal de cuisine YouTube compte 450 000 abonnés avec une moyenne de 2,3 millions de vues vidéo mensuelles.

Programmes de fidélisation de la clientèle

Le programme de fidélité de McCormick comprend:

• 375 000 membres de fidélité actifs
• Fréquence d'achat moyen des membres: 4,2 fois par an
• 15% des dépenses supplémentaires par les participants au programme de fidélité

Interaction des médias sociaux et bâtiment communautaire

Plate-forme sociale	Abonnés / engagement
Instagram	680 000 abonnés
Facebook	1,2 million de followers
Gazouillement	220 000 abonnés

Recommandations de produits personnalisés

McCormick utilise des moteurs de recommandation dirigés par l'IA avec une précision de 67% pour suggérer des combinaisons de produits personnalisés. Leur plate-forme numérique génère 1,4 million de recommandations de recettes personnalisées mensuellement.

• Précision des recommandations personnalisées: 67%
• Recommandations mensuelles de recettes personnalisées: 1 400 000
• Engagement moyen des utilisateurs avec les recommandations: 43%

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: canaux

Magasins d'épicerie de vente au détail

McCormick distribue des produits par le biais de grandes chaînes d'épicerie avec une présence importante sur le marché:

Détaillant	Pénétration du marché
Walmart	Couverture de produit à 95%
Kroger	Couverture de produit à 92%
Albertsons	88% de couverture de produit

Plateformes de commerce électronique en ligne

Les canaux de vente en ligne de McCormick comprennent:

• Amazon (plateforme de commerce électronique primaire)
• Walmart.com
• Cible.com

Les ventes en ligne représentaient 7,2% des revenus totaux en 2023.

Réseaux de distribution de services alimentaires

Canaux de distribution pour le segment des services alimentaires:

Distributeur	Volume des ventes annuelles
Sysco Corporation	35,5 millions de dollars
Aliments américains	27,3 millions de dollars

Sites Web directes aux consommateurs

McCormick.com Ventes directes: 12,4 millions de dollars en 2023.

• Mélanges d'épices personnalisés
• Services d'abonnement
• Boundes de produits spécifiques à la recette

Magasins de nourriture et de gourmets spécialisés

Distribution des magasins spécialisés:

Type de magasin	Pourcentage de ventes
Détaillants gastronomiques	3.6%
Magasins d'aliments spécialisés	2.9%

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: segments de clientèle

Cuisiniers à domicile et amateurs de culinaires

McCormick cible les cuisiniers à domicile via plusieurs gammes de produits avec une pénétration spécifique du marché:

Catégorie de produits	Volume des ventes annuelles	Part de marché
Épices et herbes	1,2 milliard de dollars	45% du marché des épices au détail
Mélanges de recettes	387 millions de dollars	32% de pénétration du marché

Chefs et restaurants professionnels

McCormick sert un segment culinaire professionnel grâce à des offres de produits spécialisées:

• Division de l'offre de restaurants générant 564 millions de dollars par an
• Solutions de saveurs spécialisées pour les cuisines commerciales
• Services de développement d'assaisonnement personnalisés

Fabricants d'aliments

McCormick fournit des solutions d'ingrédients avec des mesures suivantes:

Segment	Revenus annuels	Clients mondiaux
Solutions de saveur	2,1 milliards de dollars	Plus de 12 000 fabricants

Fournisseurs de services alimentaires institutionnels

Faignement des clients institutionnels clés:

• Hôpitaux: 213 millions de dollars de ventes annuelles
• Écoles et universités: 176 millions de dollars de ventes annuelles
• Cafétérias d'entreprise: 142 millions de dollars de ventes annuelles

Les consommateurs internationaux recherchent des saveurs mondiales

Performance du segment du marché international:

Région	Revenus annuels	Taux de croissance
Europe	587 millions de dollars	4.2%
Asie-Pacifique	423 millions de dollars	6.7%
l'Amérique latine	312 millions de dollars	5.1%

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: Structure des coûts

Achat d'ingrédients bruts

Au cours de l'exercice 2023, McCormick a dépensé 2,4 milliards de dollars pour les achats de matières premières dans le monde. L'entreprise s'approvisionne dans les ingrédients de plus de 40 pays.

Catégorie d'ingrédient	Coût d'achat annuel	Régions d'approvisionnement primaire
Épices	892 millions de dollars	Inde, Vietnam, Indonésie
Herbes	456 millions de dollars	Égypte, Turquie, Maroc
Composés de saveurs	612 millions de dollars	Chine, États-Unis, Brésil

Frais de fabrication et de production

Les coûts de fabrication de McCormick en 2023 ont totalisé 1,1 milliard de dollars, avec 22 installations de production dans le monde.

• Frimage de fabrication fixe: 345 millions de dollars
• Coûts de main-d'œuvre directs: 278 millions de dollars
• Entretien de l'équipement: 127 millions de dollars
• Énergie et services publics: 98 millions de dollars

Investissements de recherche et développement

McCormick a alloué 186 millions de dollars à la recherche et au développement au cours de l'exercice 2023.

Zone de focus R&D	Investissement
Innovation de produit	112 millions de dollars
Technologie de saveur	47 millions de dollars
Recherche sur la durabilité	27 millions de dollars

Marketing et promotion de la marque

Les frais de marketing de McCormick en 2023 ont atteint 342 millions de dollars.

• Marketing numérique: 98 millions de dollars
• Publicité traditionnelle: 156 millions de dollars
• Partenariats de marque: 44 millions de dollars
• Programmes d'engagement des consommateurs: 44 millions de dollars

Distribution et logistique globales

Les coûts de distribution pour McCormick en 2023 étaient de 512 millions de dollars.

Canal de distribution	Coût de la logistique	Pourcentage de la distribution totale
Vente au détail	276 millions de dollars	54%
Service alimentaire	142 millions de dollars	28%
Commerce électronique	94 millions de dollars	18%

McCormick & Société, Incorporated (MKC) - Modèle d'entreprise: Strots de revenus

Ventes de produits au détail des consommateurs

Au cours de l'exercice 2023, le segment des consommateurs de McCormick a généré 2,8 milliards de dollars de revenus. Le portefeuille de produits comprend:

Catégorie de produits	Revenus annuels
Épices et herbes	1,2 milliard de dollars
Mélanges d'assaisonnement	850 millions de dollars
Mélanges de recettes	450 millions de dollars
Extraits et colorants alimentaires	300 millions de dollars

Gammes de produits professionnels et des services alimentaires

Le segment des solutions de saveurs de McCormick a généré 2,5 milliards de dollars de revenus pour l'exercice 2023.

• Revenus des fabricants de produits alimentaires: 1,8 milliard de dollars
• Revenus de restauration et de service alimentaire: 700 millions de dollars

Expansion du marché international

Les revenus internationaux en 2023 ont totalisé 2,1 milliards de dollars, ce qui représente 37% du total des revenus de l'entreprise.

Région géographique	Revenu
Europe	750 millions de dollars
Asie-Pacifique	650 millions de dollars
l'Amérique latine	450 millions de dollars
Autres régions	250 millions de dollars

Ventes en ligne et directe aux consommateurs

Les revenus du commerce électronique ont atteint 320 millions de dollars en 2023, ce qui représente une croissance de 12% par rapport à l'année précédente.

Licence d'ingrédient de saveur et consultation

Les revenus de licence et de conseil ont totalisé 150 millions de dollars au cours de l'exercice 2023.

• Licence d'ingrédient de saveur: 100 millions de dollars
• Services de conseil: 50 millions de dollars

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Value Propositions

McCormick & Company, Incorporated is a global leader in flavor. Brendan M. Foley, Chairman, President, and CEO, stated, 'Our business is differentiated from others in the industry as we do not compete for calories, we flavor them.' The company manufactures, markets, and distributes herbs, spices, seasonings, condiments, and flavors across 150 countries and territories globally.

The value proposition for home cooks centers on delivering trusted, high-quality spices and seasonings. This is primarily delivered through the Consumer segment, which generated $3.85 B in revenue in fiscal year 2024, making up 57.24% of total revenue. For the second quarter of 2025, the Consumer segment net sales were $931 million, showing a 3.0% organic sales increase driven by volume.

For industrial customers, the value proposition is providing customized flavor solutions. This is the domain of the Flavor Solutions segment, which recorded $2.88 B in revenue in fiscal year 2024, accounting for 42.76% of the total. The company expects its 2025 outlook to include adjusted operating income growth of 3% to 5% (or 4% to 6% in constant currency), fueling investments.

McCormick & Company, Incorporated supports health and wellness trends by focusing on flavor, which allows consumers to enhance food without increasing caloric intake. The company's long-term growth objectives include achieving 4% to 6% Net Sales growth compounded annually through 2028.

The commitment to clean label and sustainable sourcing is embedded in the Purpose-led Performance agenda, with several time-bound goals set for 2025:

• Source 100% of branded iconic ingredients sustainably, including black pepper, red pepper, vanilla, oregano, and cinnamon.
• Reduce Scope 1 and Scope 2 emissions by 20% compared to 2015 levels.
• Cut water use by 20% compared to 2015 levels.
• Reduce solid waste by 80% compared to 2015 levels.
• Achieve 100% circular plastic packaging design, meaning no plastic enters landfill.

The company reported that in 2024, 84% of its plastic was recyclable or reusable.

Here's a quick look at the scale of the segments delivering these value propositions based on fiscal year 2024 results:

Metric	Consumer Segment	Flavor Solutions Segment
FY 2024 Revenue	$3.85 B	$2.88 B
FY 2024 Revenue Share	57.24%	42.76%
FY 2024 Operating Income (Excl. Charges)	$740 million	$330 million

The 2025 financial outlook reflects continued investment to support these value propositions, projecting adjusted EPS in the range of $3.03 to $3.08 (or $3.00 to $3.05 including currency impact). Finance: draft 13-week cash view by Friday.

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Customer Relationships

You're looking at how McCormick & Company, Incorporated keeps its vast customer base engaged, from the massive food manufacturers to the home cook grabbing spices at the supermarket. It's a dual approach, really, serving both B2B and B2C customers with distinct relationship strategies.

Direct sales teams for Flavor Solutions segment

For the Flavor Solutions segment, which accounted for $752 million in net sales in the third quarter of 2025, the relationship is high-touch and direct. This segment serves manufacturers and Quick Service Restaurants (QSR) customers globally. The focus here is on deep, innovation-driven partnerships, especially in areas like the Americas, where such partnerships drove growth in Q1 2025.

McCormick & Company, Incorporated is actively enhancing these business-to-business relationships through digital tools. They are expanding their digital presence in foodservice with the McCormick for Chefs online platform, which is specifically aimed at restaurants and institutional buyers. This digital push supports the overall strategy of leaning into data and analytics to fuel what leadership calls volume-led growth.

Here's a quick look at the segment's recent performance, which speaks to the strength of these relationships:

Metric	Period Ended August 31, 2025 (Q3)	Period Ended May 31, 2025 (Q2)
Flavor Solutions Net Sales	$752 million	$729 million
Flavor Solutions Organic Sales Growth	1% (driven by price)	Flat (1% price offset by 1% volume/mix decline)
Flavor Solutions Adjusted Operating Income (Excl. Special Charges)	$100 million	$95 million

Category management collaboration with retailers

In the Consumer segment, relationships with retailers are managed through category management collaboration, ensuring McCormick & Company, Incorporated's brands are prioritized on the shelf. The Consumer segment delivered $973 million in net sales in Q3 2025, showing strong pull from consumers that requires tight alignment with retail partners.

The company is seeing success in these relationships, reporting share gains in core categories across key markets. This is supported by evolving consumer habits; for instance, 86% of meals are still mostly cooked at home, which is a 2-point increase from pre-pandemic levels, driving consistent demand for their products.

Key consumer relationship drivers include:

• Maintaining leadership in spices and seasonings, a fast-growing center store category.
• Aligning product timing and messaging with consumer convenience priorities.
• Driving volume growth across all regions in the Consumer segment.

Brand-building via digital and traditional marketing

Brand-building is supported by significant investments in brand marketing and innovation, which leadership credits for volume-driven performance. A major relationship touchpoint is the physical product experience itself. For example, the McCormick Gourmet Collection is undergoing its first major packaging redesign in over 30 years, rolling out nationwide between late 2025 and January 2026.

This redesign spans 72 distinctive flavors, including 54 certified organic varieties. The strategy is to appeal to younger shoppers who value authenticity and style in their cooking expression. Furthermore, seasonal products are a core revenue driver, accounting for up to 30% of McCormick & Company, Incorporated's annual sales.

E-commerce engagement and direct-to-consumer efforts

E-commerce is explicitly listed as a channel within the Consumer Segment's go-to-market strategy, showing a direct relationship path to the end consumer. The overall business strategy is accelerating digital transformation, using data and analytics to enhance marketing and customer engagement across all channels. This digital focus helps tailor offerings and capture demand across all occasions.

The focus on younger consumers drives this digital engagement, as insights show that Millennial and Gen Z shoppers are highly engaged with global flavor experiences. Specifically, 48% of Millennials and 58% of Gen Z shoppers reported eating globally influenced foods in the past week, a trend McCormick & Company, Incorporated addresses through both product innovation and digital content sharing, like recipes and cooking tips online.

Finance: draft 13-week cash view by Friday.

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Channels

You're looking at how McCormick & Company, Incorporated gets its flavor products into the hands of customers across the globe as of late 2025. The distribution strategy relies heavily on two core segments: Consumer and Flavor Solutions, which map directly to the channels you listed.

For the third quarter of fiscal 2025, the sales figures for these two primary channel groupings were:

Channel Grouping (Segment Proxy)	Q3 2025 Net Sales (Millions USD)	Organic Sales Growth (Q3 2025)
Retail grocery stores and mass merchandisers (Consumer Segment)	$973 million	3%
Foodservice distributors, QSRs, and Industrial Sales (Flavor Solutions Segment)	$752 million	1%

The total net sales for the third quarter of 2025 reached $1.725 billion (calculated from the sum of the two segments), representing a 3% increase compared to the year-ago period, which included a 1% favorable impact from currency. McCormick continues to focus on volume-led growth across these channels.

Here is a breakdown of the channel activities based on the latest segment performance:

• Retail grocery stores and mass merchandisers globally:
  • The Consumer segment saw net sales increase 4% year-over-year in Q3 2025 to $973 million.
  • This growth was driven by volume and product mix, with organic sales up 3% in the quarter.
  • In the United States, volumes surpassed private label competitors for the fifth consecutive quarter.
  • Share gains were significant in EMEA, especially in France and Poland.
• Foodservice distributors and quick-service restaurants (QSRs):
  • This is a key part of the Flavor Solutions segment, which saw organic sales increase 1% in Q3 2025, driven by price.
  • QSR performance remained strong across the Americas and APAC regions, fueled by innovation and customer growth.
  • However, the segment faced pressure in EMEA related to foodservice foot traffic slowdowns.
• Industrial sales to Consumer Packaged Goods (CPG) companies:
  • These sales fall under the Flavor Solutions segment, which reported net sales of $752 million in Q3 2025.
  • The segment faced pressure from softness in CPG customers' volumes in the Americas and EMEA regions.
• E-commerce platforms and company websites:
  • McCormick & Company continues its strategic focus on e-commerce expansion to drive global growth.
  • The company anticipates continued momentum supported by its 2024 prioritized investments in digital areas heading into 2026.
• Club stores and discount retailers:
  • These are captured within the Consumer Segment distribution network.
  • The company achieved strong volume improvements across all regions, indicating broad-based success in reaching various retail formats.

The company reaffirmed its full-year fiscal 2025 guidance for organic net sales growth between 1% and 3%, suggesting confidence in maintaining this channel momentum through year-end.

Finance: review Q3 channel contribution variance against the 1-3% organic sales guidance by Monday.

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for McCormick & Company, Incorporated as of the close of fiscal year 2024. Honestly, the customer base splits quite cleanly into two main buckets, which drive the entire business structure.

Global Consumers: Home cooks seeking flavor and value

This group is the largest revenue driver for McCormick & Company, Incorporated. They are the everyday home cooks buying spices, seasonings, and sauces off the shelf. In fiscal year 2024, this Consumer segment brought in $3.85 B in net sales, which was 57.24% of the total company revenue that year. It's clear that flavor remains a priority for this group, even with economic pressures; for instance, 86% of meal occasions were sourced at home in 2024, staying above pre-pandemic levels. This segment also carries the higher overall profit margin compared to the other major division.

Here's the quick math on the segment split for fiscal year 2024:

Customer Group	FY 2024 Net Sales (Approximate)	% of Total Net Sales (FY 2024)	% of Operating Income (FY 2024)
Global Consumers (Consumer Segment)	$3.85 B	57%	69%
B2B/Foodservice (Flavor Solutions Segment)	$2.88 B	43%	31%

What this estimate hides is that the Consumer segment operating income share was actually 69% of the total, showing its margin strength.

Flavor Solutions: Food manufacturers (CPG) and beverage companies

The second major segment serves business customers, which McCormick & Company, Incorporated groups into Flavor Solutions. These are the food manufacturers (CPG companies) and beverage producers that use McCormick & Company, Incorporated's ingredients, flavors, and extracts in their own products. This division generated approximately $2.88 B in revenue in fiscal year 2024, making up about 42.76% of the total. This customer base is highly concentrated, which is something you need to watch. For example, sales to one major customer, PepsiCo, Inc., accounted for about 13% of consolidated sales in 2024. Plus, the top three customers in this segment represented between 47% and 49% of the global flavor solutions sales in 2024.

You can see the customer concentration risk clearly:

• Top two customers across both segments accounted for an aggregate of approximately 25% of consolidated sales in 2024.
• The largest single customer in the Flavor Solutions segment was responsible for about 13% of total company sales in 2024.
• The Consumer segment's largest customer, Wal-Mart Stores, Inc., accounted for about 12% of consolidated sales in 2024.

Foodservice Operators: QSR chains and institutional kitchens

While not a separate reporting segment, Foodservice Operators are a key part of the Flavor Solutions customer base. These are the Quick Service Restaurant (QSR) chains and institutional kitchens that buy bulk ingredients and prepared flavor systems. Performance here is tied directly to the Flavor Solutions segment results, and it can be sensitive to consumer traffic trends. For instance, in the Americas, branded foodservice performance was flat in Q2 2024 due to reduced foot traffic. Similarly, QSR traffic in EMEA also remained soft during that period. This customer group relies heavily on the B2B relationship, and any decline in their reputation or perception can adversely impact McCormick & Company, Incorporated's business.

International Markets: Focus on EMEA and Asia-Pacific expansion

McCormick & Company, Incorporated's reach is global, with brands touching consumers in about 150 countries and territories. The Americas is the dominant region, but the focus for growth is definitely overseas. Looking at the fiscal year 2024 revenue breakdown by region, you see where the current base is and where expansion efforts are directed. The EMEA region generated $1.24 B in revenue, representing 18.43% of the total. The Asia Pacific region was the smallest contributor at $682.50 M, or 10.15% of the total revenue for 2024. Still, there are positive signs; in EMEA, Consumer organic sales increased by 3% in Q2 2024, and Asia Pacific saw a 4% growth, suggesting a gradual recovery in China. The company is definitely focused on driving that international growth.

Finance: draft 13-week cash view by Friday.

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Cost Structure

The cost structure for McCormick & Company, Incorporated is heavily influenced by the procurement of raw materials, global distribution networks, and necessary investments to maintain brand equity and operational efficiency. You're looking at a business where input costs, especially for spices and flavorings, are a primary driver of the bottom line.

High cost of raw materials and commodity sourcing.

Commodity price volatility is a major cost factor. As of late 2025, McCormick is navigating persistent inflation in key spices like black pepper, turmeric, cumin, and coriander, leading to projected low single-digit cost inflation for the fiscal year 2025. This pressure directly impacts the gross margin, which saw a contraction of 120-130 basis points in the third quarter of 2025 compared to the prior year period. The company is actively trying to mitigate this through its Comprehensive Continuous Improvement (CCI) program, but the external environment remains challenging.

Significant Selling, General, and Administrative (SG&A) expenses.

While the company drives efficiencies, SG&A is a necessary cost base, partially offset by savings initiatives. For instance, in the third quarter of 2025, SG&A expenses decreased by 100 basis points relative to the year-ago quarter, driven by lower employee-related benefits and CCI savings. However, this benefit is being channeled to fund growth investments.

Manufacturing and global logistics costs.

As a global operator spanning approximately 150 countries and territories, the costs associated with manufacturing, warehousing, and moving product across international borders are substantial. While specific logistics cost percentages aren't always broken out separately from COGS, the overall cost structure reflects a complex global supply chain that requires constant optimization to keep pace with volume-led growth.

Investments in brand marketing and technology are defintely rising.

McCormick & Company, Incorporated views marketing and technology as critical investments to sustain volume growth and differentiation, which are reflected as upward pressures on SG&A. These investments are prioritized to support core categories and drive long-term profitable growth. The company is leveraging AI, data analytics, and intelligent automation to streamline operations, particularly within supply chain functions, as part of its productivity plans.

Here's a quick look at the financial scale relevant to understanding these costs:

Metric	FY 2024 Actual	FY 2025 Outlook/Guidance Context
Total Net Sales	$6.72 Billion	Organic Growth Outlook: 1% to 3%
Gross Profit	$2.59 Billion	Gross Margin expected flat to up 50 basis points vs. 2024
Operating Income	$1.07 Billion	Adjusted Operating Income Growth (constant currency): 3% to 5% (Revised)
Consumer Segment Sales	$3,849 million	Consumer segment historically has a higher overall profit margin
Flavor Solutions Segment Sales	$2,875 million	Segment expected to lead total adjusted operating margin expansion for 2025

Tariffs and foreign currency fluctuation impacts.

Geopolitical trade policies create direct, quantifiable cost shocks. McCormick's gross annualized tariff exposure for fiscal year 2025 swelled to approximately $140 million, with about $70 million directly impacting the 2025 financial results. This is a significant increase from prior estimates of $90 million in total exposure and $50 million in direct impact. For example, certain Chinese spice tariffs temporarily escalated to 145% before settling near 30% for a 90-day period as of October 2025. In contrast, foreign currency fluctuations are expected to have a minimal impact on sales and operating income for the full year 2025.

The company is managing these external shocks by:

• Implementing selective, 'surgical' price adjustments.
• Absorbing some incremental costs to protect volume.
• Driving productivity savings across the Profit & Loss (P&L).
• Exploring alternative sourcing and supply chain initiatives.

The 2025 adjusted Earnings Per Share (EPS) outlook was trimmed to a range of $3.00 to $3.05 per share, reflecting the incremental tariff and commodity cost increases.

Finance: draft 13-week cash view by Friday.

McCormick & Company, Incorporated (MKC) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for McCormick & Company, Incorporated as of late 2025, which is essential for understanding where the money actually comes from. The revenue streams are clearly segmented, reflecting the dual nature of their business: selling directly to consumers and supplying other businesses.

The overall picture shows a company with a substantial, established revenue base. Trailing twelve months revenue as of Q3 2025 is approximately $6.79 billion. This figure gives you the scale of the business over the recent past. For the full-year 2025 outlook, McCormick & Company, Incorporated projects reported net sales growth to be between 0% to 2%.

The company's earnings power is also a key revenue-related metric to watch. The Adjusted EPS for 2025 is forecast between $3.03 and $3.08. Honestly, navigating cost pressures while maintaining this level of profitability is the near-term challenge for the management team.

The two primary revenue-generating segments are detailed below, based on the latest reported figures from the third quarter of 2025. This breakdown helps you see which part of the business is currently driving the top line.

Revenue Stream Segment	Q3 2025 Net Sales (Reported)	Q3 2025 Organic Sales Growth
Consumer segment (spices, condiments)	$973 million	3% increase
Flavor Solutions segment (industrial ingredients)	$752 million	1% increase

The Consumer segment, which includes the familiar spices, condiments, and seasoning mixes you see on grocery shelves, showed stronger organic growth in the third quarter. This segment's revenue for Q3 2025 hit $973 million, reflecting a 3% organic sales increase driven by volume and product mix. This is the more consumer-facing part of the business, so its performance is closely tied to household purchasing habits.

The Flavor Solutions segment provides ingredients to other food manufacturers and foodservice operations. For Q3 2025, this segment brought in net sales of $752 million, with organic sales growing by 1%, primarily driven by price actions. McCormick & Company, Incorporated expects this segment to be the primary driver of operating margin expansion in 2025, even if its top-line growth is more modest than the Consumer side.

You can see the key drivers contributing to the revenue performance through these points:

• Net sales from Consumer segment (spices, condiments) were $973 million in Q3 2025.
• Net sales from Flavor Solutions segment (industrial ingredients) were $752 million in Q3 2025.
• Trailing twelve months revenue as of Q3 2025 is approximately $6.79 billion.
• Full-year 2025 net sales growth projected at 0% to 2% reported.
• Adjusted EPS for 2025 is forecast between $3.03 and $3.08.

The company's ability to generate revenue is clearly split, but the Consumer side is showing better volume momentum right now. If onboarding takes 14+ days, churn risk rises, which is a good analogy for how quickly they need to get new products to market to sustain that Consumer segment growth. Finance: draft 13-week cash view by Friday.