Sauces Market - By Product Type (Hot Sauces, Pasta Sauces, Tomato Sauces, Barbecue sauces, Oyster sauces, and Soy sauces), By End-user (Households, Restaurants, and Food Service Chains), By Distribution Channel (Supermarkets/Hypermarkets, Online Retail, and Convenience Stores) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Forecast 2027
|ID: VPR/F&B/1273||Publishing Year: December 2021||Pages: 140||Format:|
Sauces Market Overview:
Global Sauces Market is expected to register a CAGR of 5.02% from 2021 to 2027.
Sauces have an important role in our life as they are found on almost every dinner table throughout the world. Leading food companies are exploring further into the psychology of sauce selection, both when picking from a wide range of alternatives and when selecting sauces that are best suited for a certain meal. Sauces are used in Asian, British, French, Italian, and Latin cuisines, among others as they enhance the overall value of food items by adding taste and moisture to them.
The growing popularity of spicy foods and items such as pasta and rice with a variety of sauces, condiments, and dressings is anticipated to significantly increase the demand for sauces. Additionally, a crucial factor driving industry growth is a shift in consumer diet choices and consumption habits toward nutritionally balanced foods and organic food products, which are healthier and tastier. Furthermore, the industry's development is being aided by a substantial rise in product advancements and new product launches.
- McCormick & Company Inc.
- The Kraft Heinz Company
- Sweet Baby Ray’s
- ConAgra Food Inc.
- Kikkoman Corporation
The Sauces Market is segmented into three parts based on the product type, end-user, distribution channels, and region. The hot sauces sector of the global Sauces Market is the largest segment among product types, owing to rising demand from the food sector. In the worldwide Sauces Market, tomato sauces are the second most popular product category. The Sauces Market will also benefit from increased demand for convenience formats, product differentiation, and customization.
By Product Type
- Hot Sauces
- Pasta Sauces
- Tomato Sauces
- Barbecue sauces
- Oyster sauces
- Soy sauces
- Food Service Chains
By Distribution Channel
- Online Retail
- Convenience Stores
- North America
- Latin America
- Middle East and Africa
The Sauces Market is expected to expand strongly during the forecast period, owing to rising demand from end-users and industries. Over the projection period, Asia-Pacific will expand at a faster pace than the other areas studied in the study. The European nations are completely distinct marketplaces, with a wide range of tastes and interests. In the United Kingdom, a growing number of individuals are choosing for healthier living, new taste profiles, and packaging ease. Due to the continuous inflow of foreign cuisines pushed by the tourist and hospitality sector, demand for the aforementioned Sauces Market is modestly increasing.
Impact of COVID-19 on the Market
During the unusual COVID-19 pandemic and worldwide indefinite lockdown, the food and beverage sector saw a surge in demand for basic products with long shelf lives. As a result, during the initial phase of the crisis, the industry's demand for frozen food items, cereals, condiments, and sauces, among other things, soared. However, most businesses in the sector are now dealing with supply chain disruptions and decreased demand.
Significant changes in consumer behavior and business trends may have a significant effect on the market's future. Therefore, the Sauces Market will see the introduction of new promotion methods, with major companies emphasizing the health advantages of their goods and promoting them via online channels.
Frequently Asked Questions
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