Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Barbeque Sauce Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The barbeque sauce market size has grown strongly in recent years. It will grow from $1.79 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The barbeque sauce market size is expected to see strong growth in the next few years. It will grow to $2.33 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
The growth observed in the historical period can be attributed to several factors, increased demand for barbecue sauce for culinary purposes, rising popularity of natural and organic products, greater use of barbecue sauce as a condiment in vegan cuisine, consumer willingness to pay higher prices, and the growing outdoor grilling culture.
North America was the largest region in the barbeque sauce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the barbeque sauce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the barbeque sauce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The projected growth in the forecast period can be attributed to several factors, the growing popularity of barbecue-style cooking, increasing consumer willingness to pay premium prices, rising disposable incomes, higher demand for convenience foods, and the burgeoning trend of home cooking. Key trends anticipated in this period include technological advancements, product approvals, new product launches, innovative recipes, and the introduction of barbecue sauces featuring diverse ethnic flavors.
The increasing demand for convenience foods is expected to drive growth in the barbeque sauce market. Convenience foods are prepared for easy consumption, typically as pre-packaged or pre-prepared meals. This trend is fueled by factors such as time constraints, improved accessibility, advancements in food technology, and urbanization. Barbecue sauce, a popular condiment commonly found in convenience foods, is versatile and suitable for a variety of dishes, including grilled meats, sandwiches, and snacks. For example, in 2023, the United States Department of Agriculture reported a rise in the total value of US processed food exports to $36.59 billion, up 1.7% from previous years, underscoring the impact of convenience food demand on the barbecue sauce market.
Key companies in the barbecue sauce market are innovating by introducing products such as gluten-free options to attract a broader consumer base and stand out in a competitive market. Gluten-free honey barbecue sauces, for instance, are made without gluten-containing ingredients and are used for marinating, basting, or topping grilled or smoked meats. In May 2024, Lillie's Q, a US-based manufacturer of barbecue sauces, launched a new Honey Barbecue Sauce as part of its line of authentic Southern-style BBQ products, including sauces, rubs, and smoked meats. This sauce is designed to deliver a high-quality, authentic Southern BBQ flavor and is described as thick, rich, honey-flavored, and non-GMO.
Competitive Landscape And Company Profiles
- JB's Best Co.
- Overview
- Products and Services
- Strategy
- Financial Performance
- The Kraft Heinz Co.
- General Mills Inc.
- Trader Joes Co.
- Conagra Brands Inc.
Other Major And Innovative Companies
- The Clorox Co.
- McCormick And Co. Inc.
- Dr. August Oetker Nahrungsmittel KG
- Cremica Food Industries Ltd.
- Roland Foods LLC.
- Memphis Barbecue Co.
- American Gardens LLC
- Sweet Baby Rays Inc
- Renfro Foods Inc
- The Gourmet Warehouse Inc.
- Veeba Food Services Pvt. Ltd.
- J. Lee's Gourmet BBQ Sauce
- Killer Hogs BBQ
- Rufus Teague
- Sucklebusters Inc.
Key Topics Covered:
1. Executive Summary
2. Barbeque Sauce Market Characteristics
3. Barbeque Sauce Market Trends And Strategies
4. Barbeque Sauce Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Barbeque Sauce Market Size and Growth
5.1. Global Barbeque Sauce Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Barbeque Sauce Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Barbeque Sauce Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Barbeque Sauce Market Segmentation
6.1. Global Barbeque Sauce Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Liquid
- Paste
6.2. Global Barbeque Sauce Market, Segmentation By Flavors, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Cultured Sweet
- Sour
- Spicy
6.3. Global Barbeque Sauce Market, Segmentation By Ingredient, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Vinegar And Pepper
- Mustard-Based
- Light Tomato
- Heavy Tomato
- Corn
6.4. Global Barbeque Sauce Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Hypermarket Or Supermarkets
- Convenience Stores
- Online Channels
6.5. Global Barbeque Sauce Market, Segmentation
- By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Household
- Commercial
7. Barbeque Sauce Market Regional And Country Analysis
7.1. Global Barbeque Sauce Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Barbeque Sauce Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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