The global sauces, dressings, and condiments market is expected to witness significant growth over the coming years, primarily due to changing consumer preferences and a resultant rise in demand for convenience and ready-to-eat foods. Furthermore, launch of organic ingredients, low-fat substitutes, innovative new flavors, and increasing consumer willingness to try international flavors and cuisines are key factors driving the industry. Sauces, dressings, and condiments are extensively used in seafood products, fruits and vegetables, bakery products, and dairy products.
The market can be segmented on the basis of type into cooking ingredients, table sauces, pastes and purees, dips, and others. Table sauces hold a prominent share and are anticipated to exhibit momentous growth over the forecast period. Cooking ingredients are also likely to emerge highly lucrative owing to rising demand for ethnic cuisines and availability of a variety of ingredients, depending on the cuisine and region.
On the basis of distribution channel, the industry can be categorized into specialty stores, convenience stores, hypermarkets/supermarkets, and others. Hypermarkets/supermarkets hold a prominent share in the overall revenue owing to availability of a wide range of products and frequent discounts offered by these outlets for promotional purposes. Other distribution channels include online sales and independent retailers. Sale of sauces, dressings, and condiments through online channels is expected to grow over the forecast period due to rise in number of internet users and increasing accessibility to various products and brands.
By way of region, the global industry can be segmented into North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa. Europe is a prominent region in the global market owing to growing demand for time-saving products such as dips and barbeque sauces. Manufacturers are focusing on launching new products with organic ingredients and gluten-free properties with convenient packaging. Asia Pacific is projected to witness robust growth over the forecast period owing to presence of leading countries such as India, China, and Japan.
Some of the major market participants are Nestle SA; Kikkoman Corporation; McCormick & Company Incorporated; Del Monte Foods Inc.; Unilever Group; General Mills Inc.; The Kraft Heinz Company; and Conagra Brands Inc. Presence of key industry players has resulted in intense competition in the market. Key players compete on the basis of numerous factors, such as innovation, price, quality, promotion, and distribution. They have been capitalizing primarily on product innovation to sustain a strong foothold in the global sauces, dressings, and condiments market.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."