Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Sauces, Dressings & Condiments Market Outlook, 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Sauces, Dressings & Condiments Market is on a trajectory of remarkable growth, with an anticipated market size of USD 229.55 Billion by 2028, a substantial increase from the USD 171.26 Billion recorded in 2022. This growth is projected to be fueled by a steady 5.10% CAGR over the period from 2023 to 2028.
The burgeoning demand for packaged and convenient sauces, dressings, and condiments is a direct result of the expanding working population and increasingly busy lifestyles. Beyond convenience, consumers are also seeking diverse international flavors, propelling the industry forward.
Moreover, a rising emphasis on health-conscious choices has led to an escalated demand for nutrient-rich and wholesome product options. To meet these evolving preferences, manufacturers are actively developing gluten-free and organic alternatives within the category. Notably, culinary establishments are pushing boundaries by experimenting with novel flavor profiles and combinations, catering to the demand for innovative pasta dishes. Additional factors, including rising disposable incomes and rapid urbanization, are set to contribute to the sector's growth.
Market Dynamics Driving Innovation
The rise of plant-based diets and the growing trend of veganism are significantly impacting the sauces, dressings, and condiments market. A surge in demand for plant-based alternatives is evident, with dairy-free mayonnaise, vegan salad dressings, and plant-based cream sauces emerging as popular choices.
Sustainability is also taking center stage, prompting consumers to seek eco-friendly packaging and products made from sustainably sourced ingredients. Health-conscious consumers are further propelling the demand for sauces, dressings, and condiments with reduced sugar content and lower calorie counts. To address these preferences, brands are developing products that utilize natural sweeteners, ensuring a healthier choice without compromising taste.
The Social Media Influence
In the digital age, social media platforms and online recipe sharing wield significant influence over consumer preferences. Brands are harnessing the power of these platforms to collaborate with influencers, chefs, and food bloggers, creating captivating content that showcases their sauces, dressings, and condiments and resonates with a broader audience.
Regional Flavor Dynamics
In Asia and the Pacific, soy sauce, a staple condiment in many Asian cuisines, traces its origins back over 2,500 years to China. Its umami-rich flavor profile, achieved through the fermentation of soybeans, wheat, and salt, has earned it a global following. Fruits are also utilized in creating unique sauces, as seen with the popular banana ketchup in the Philippines, made from mashed bananas, vinegar, sugar, and spices.
North American Palates and Preferences
In North America, the penchant for hot and spicy flavors has led to a surge in hot sauce consumption, offering a range of heat levels and flavor profiles. Ketchup remains a beloved classic, while regional barbecue sauces celebrate diversity with various styles. North America's rich cultural tapestry is mirrored in its condiment choices, with ethnic favorites like salsa, guacamole, soy sauce, teriyaki sauce, sriracha, and tahini gaining widespread popularity.
Culinary Celebrations
The fervor for hot sauce is so pronounced in the United States that it is celebrated through annual hot sauce festivals, including the NYC Hot Sauce Expo and the Texas Hot Sauce Festival, where enthusiasts indulge in tastings, competitions, live music, and spicy food challenges.
In this vibrant landscape, the global sauces, dressings, and condiments market is not only satisfying culinary desires but also catering to evolving lifestyles and preferences, making it a dynamic and exciting sector to watch.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 159 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $171.26 Billion |
| Forecasted Market Value (USD) by 2028 | $229.55 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Company Profiles
- The Kraft Heinz Company
- Unilever PLC
- General Mills, Inc.
- Nestle S.A.
- McCormick & Company, Incorporated
- PepsiCo, Inc.
- The Hain Celestial Group, Inc.
- Hormel Foods Corporation
- Kikkoman Corporation
- Sovos Brands, Inc.
- Mars, Incorporated
- Everest Beverages & Food Industries Private Limited
- Kiril Mischeff Limited
- Goya Foods, Inc.
- Barilla Group
- B&G Foods, Inc.
- Lee Kum Kee Company Limited
- Campbell Soup Company
- Kewpie Corporation
- Conagra Brands, Inc
Considered in this report
- Geography: Global
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
By Category
- Sauces & Dressings
- Pickled Products
- Purees & Pastes
- Dips
- Others
By Product Type
- Soy Sauce
- Tomato Sauce
- Saefood/ Cocktail Sauce
- Mayonnaise
- Pasta Sauce
- Oyster Sauce
- Salad Dressings
- Hot Sauce (tabasco, red chilli, green chili, sweet chilli, garlic chilli, hot garlic,peri peri, Sriracha sauce, Pique Sauce, Enchilada )
- Others (BBQ Sauce, Applesauce, Corn sauce, Cheese sauce, Bechamel Sauce, Marinara Sauce, Hollandaise Sauce, Pesto Sauce, Teriyaki Sauce, Bolognese Sauce, Worcestershire sauce, Romesco sauce and so on)
By Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retail
- Other Distribution Channels (Food Service, Vending Machine and Direct Selling)
For more information about this report visit https://www.researchandmarkets.com/r/8l3wan
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