Wilmington, Delaware, United States, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for pasta sauce was estimated to have acquired US$ 8.7 billion in 2017. It is anticipated to advance with a 6.5% CAGR from 2022 to 2031 and by 2028, the market is likely to gain US$ 17.4 billion.
Manufacturers of pasta sauces now place a premium on freshness, organic ingredients, and reduced salt levels since these qualities improve the food's nutritional worth.
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Over the next years, it is anticipated that the company's market share will be maintained via the creation of goods in accordance with specific customer requirements. It is anticipated that the companies that make pasta sauce would lower their goods, increasing customer reach during the ensuing several years.
Global Pasta Sauce Market: Key Players
Manufacturers of pasta sauce are placing a strong emphasis on integrating cutting-edge technology into their production process to increase productivity, quality, and efficiency. Manufacturers of pasta sauce use a consumer-focused strategy and concentrate on current trends and consumer demand, increasing the likelihood of higher sales in the pasta sauce industry.
The following companies are well-known participants in the global pasta sauce market:
- Barilla S.p.A
- Hunts (ConAgra Food Inc.)
- Mizkan Co.
- B&G Food Holdings Corp.
- Delgrosso Foods Inc.
- Giovanni Food Company Inc.
- Vino De Milo
- Pellicanos Specialty Foods
Key developments in the global market for pasta sauce are:
- Campbell announced their new science-based goals (SBT) for lowering greenhouse gas emissions in 2021. Targets have been adopted by the Science Based Targets project (SBTi), which identifies and promotes efficient methods in carbon reductions.
- The Barilla agriBosco was introduced in 2021 to explain the sustainable agricultural and natural coexistence that underlies all of the goods produced by the Parma-based firm. It is a celebration of Barilla's position in the globe with an emphasis on premium, eco-friendly goods and raw materials.
- Hemmer, a Brazilian food business, and Kraft Heinz agreed to a contract in 2022. The acquisition expedites Kraft Heinz's Taste Elevation plan in a crucial development sector, and CADE, Brazil's antitrust watchdog, approved the deal without caveats.
Key Findings of the Market Report
- Flavorful items come in all shapes and sizes, which has an influence on the global food and beverage sector as people travel the world and sample diverse cuisines.
- Future pasta sauce market growth may be positively impacted by new product introductions in the pasta sauce category.
- The global pasta market has benefited from the accessibility of a range of pastas.
Market Trends for Pasta Sauce
- The market for pasta sauce has evolved, as have the products that go into making it, according to trends and increased demand. Pasta sauces can be found in organic, gluten-free, and non-genetically modified organisms (GMO) versions.
- The demand for non-GMO ingredients has been driven by rising consumer awareness of the value of clean label food components. Consumers have shifted their preferences regarding organic and genetically unmodified food products due to the lack of safety for consuming genetically modified foods.
- The non-GMO components, which were formerly thought of as esoteric, are now a significant component of the mainstream food items. Future revenue returns are anticipated to be higher for non-GMO market players.
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Pasta Sauce Market Regional Outlook
Various reasons are propelling the growth of the pasta sauce market in different regions. These are:
- In 2017, Europe led the pasta sauce industry, accounting for almost 32.0% of sales globally. The rise of the regional market has been fueled by the introduction of pasta and its widespread use in European nations.
- From 2018 to 2028, Asia Pacific is anticipated to see a large growth. spaghetti and pasta sauce are widely consumed in the area because to culinary globalization. Fast-food restaurants have helped to increase pasta's market penetration. Pasta sauce has become more and more common in the area since it has become a staple of the cuisine.
Global Pasta Sauce Market Segmentation
Nature
- Organic
- Conventional
Product Type
- Tomato-based Sauces
- Traditional Sauce
- Marinara Sauce
- Meat Sauce
- Mushroom Sauce
- Roasted Garlic Sauce
- Cheese Sauce
- Tomato and Basil Sauce
- Others
Pesto-based Sauces
- Traditional Basil Pesto Sauce
- Sun-dried Tomato Pesto Sauce
- Others
Alfredo-based Sauces
- Traditional Alfredo Sauce
- Garlic Alfredo Sauce
- Cheese Alfredo Sauce
- Others
Packaging Type
- Glass Bottles
○ P.E.T.
●Cans
●Pouches
●Cartons
Distribution Channel
Direct
●Indirect
- Store-based Retailing
- Hypermarkets/ Supermarkets
- Specialty Stores
- Convenience Stores
●Online Retailing
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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