Redding, California, March 01, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Sauces, Dressings, and Condiments Market by Type [Sauces (Cooking, Table), Purees, Pastes, Dips], Ingredients (Food Additives, Herbs, Spices), Distribution Channel (Supermarkets, Hypermarkets, Convenience Stores, E-commerce) - Global Forecast to 2030,’ the global sauces, dressings, and condiments market is slated to register a CAGR of 4.5% during the forecast period to reach $217.3 billion by 2030.
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The growth of the sauces, dressings, and condiments market is driven by the rising demand for on-the-go snacks, the increasing popularity of international cuisines, changing lifestyles and hectic schedules of the working population, and the expansion of the retail industry across the globe. Additionally, the growing E-commerce penetration in developing countries and emerging economies in Latin America, Asia, and the Middle East & Africa provide significant growth opportunities for sauces, dressings, and condiment manufacturers in the coming years.
The sauces, dressings, and condiments market is segmented by type (sauces [cooking sauces, table sauces, other sauces}, purees & pastes, dips, pickled products and other product types), ingredients (fruits and vegetables, herbs and spices, food additives, and other ingredients), distribution channel (business-to-business (B2C) [supermarkets & hypermarkets, convenience stores, specialty stores, e-commerce, other retail channels], business-to-business (B2B)), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on type, in 2023, the sauces segment is expected to account for the largest share of the global sauces, dressings, and condiments market. The large market share of this segment is attributed to its increasing demand from the food service industry and household use, increasing consumer preference for ethnic, authentic, and umami flavors, and growing adoption of innovative sauces, such as gluten-free, natural, and organic. However, the dips segment is expected to register the fastest growth during the forecast period. The rapid growth of this segment is attributed to the increasing demand for on-the-go foods, growing demand from the food service industry, and new product development and innovations in dips.
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Based on distribution channel, in 2023, the supermarkets & hypermarkets segment is expected to account for the largest share of the global sauces, dressings, and condiments market for the B2C distribution channel. The large market share of this segment is attributed to the growing number of supermarkets in developing countries, such as China & India, consumers’ preference for shopping from supermarkets and hypermarkets due to easy access and availability at low prices, and the increasing consumer spending on sauces, dressings, and condiments products.
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However, the e-commerce segment is expected to register the fastest growth in the sauces, dressings, and condiments market for the B2C distribution channel. The rapid growth of this segment is mainly attributed to the rising internet penetration, growing preference for consumer convenience, availability of greater discounts compared to modern trade, and greater product selection experience.
Based on geography, in 2023, Asia-Pacific is slated to register the fastest growth rate during the forecast period. The fast growth of this regional market is mainly attributed to the changing lifestyles, rising disposable incomes, rapid urbanization & industrialization, rising number of working women, and growing e-commerce penetration.
The global sauces, dressings, and condiments market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the global sauces, dressings, and condiments market are Conagra Brands, Inc. (U.S.), Daiya Foods Inc. (Canada), General Mills, Inc. (U.S.), Vandemoortele Europe NV (Belgium), The Kraft Heinz Company (U.S.), McCormick & Company, Inc. (U.S.), Campbell Soup Company (U.S.), Unilever Group (U.K.), Nestle S.A. (Switzerland), Kikkoman Corporation (Japan), Sweet Baby Ray's (U.S.), Lee Kum Kee (China), and Sovos Brands, Inc. (U.S.).
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Scope of the Report:
Sauces, Dressings, and Condiments Market, by Type
- Sauces
- Cooking Sauces
- Table Sauces
- Other Sauces
- Purees & Pastes
- Dips
- Pickled Products
- Other Product Types
Sauces, Dressings, and Condiments Market, by Ingredient
- Fruits and Vegetable
- Herbs and Spices
- Food Additives
- Other Ingredients
Sauces, Dressings, and Condiments Market, by Distribution Channel
- Business-To-Business (B2C)
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- E-commerce
- Other Retail Channels
- Business-To-Business (B2B)
Sauces, Dressings, and Condiments Market, by Geography
- North America
-
- U.S
- Canada
-
- Europe
-
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
-
- Asia-Pacific
-
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
-
- Latin America
- Middle East & Africa
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