Condiment sauces are an important part of a number of traditional cuisines, as these sauces put in extra flavor as well as taste to the dishes. Varying eating habits from around the world along with the rising demands from consumers for a variety of cuisines and tastes is a key growth driving factor that boosts the sauce and condiment market demand. —
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According to the research, the global sauce and condiment market was estimated at USD 19,356 million in 2014. The sauce and condiment market is expected to reach USD 23,395 million by 2020 growing at a compound annual growth rate (CAGR) of over 3% during the forecast period (from 2014 to 2020).
Busy lifestyles in fully developed areas and increasing urbanization in many developing areas resulted in the growing demand & usage of sauces and condiments. Moreover, the growing popularity of fast food, which includes condiment sauces as an important ingredient to add extra flavor, is expected to spur the sauce and condiment market growth in the near future.
Consumers are opting for products like advanced quality sauces and condiments since these products have less salt & sugar. Due to this consistent trend, companies are introducing new products to fulfill the consumer demands. Increasing fast food chains as well as the working population base has had a positive effect on the food & beverage industry. Product innovation and quality enhancement along with expanding distribution channels are expected to boost the development of the global sauce and condiment market.
Geographically, the sauce and condiment market is divided into Europe, North America, Asia-Pacific (APAC), and the Rest of the World (RoW). In the APAC region, the market for sauce and condiment is expected to grow significantly, mainly because of the growing demand from major markets of Japan and China. The U.S. and Mexico are the dominating regional markets in the North America region.
Supermarkets, convenience stores, and food & beverages specialists are the most common distribution channels. All these common distributions channels are expected to maintain their top position in the sauce and condiment market’s distribution share by 2020, followed by general merchandise retailers, dollar stores, warehouse clubs, and variety stores.
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The latest market data for this research include:
• Overall sauce and condiment market size, 2008-2019
• Sauce and condiment market size by product segment, 2008-2019
• Growth rates of the overall sauce and condiment market and different product segments, 2008-2019
• Shares of different product segments of the overall sauce and condiment market, 2008, 2014 and 2019
• Market Potential Rates of the overall sauce and condiment market and different product segments
The product segments discussed in the data report include:
• Prepared mustard, mustard flour and meal
• Soya sauce
• Tomato ketchup and other tomato sauces
• Other sauces and condiments
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