The Culinary Sauces Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Culinary Sauces Global Market Report 2024, The culinary sauces market size has grown strongly in recent years. It will grow from $49.04 billion in 2023 to $51.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to culinary diversity and globalization, changed consumer lifestyles, increased consumer interest in ethnic cuisines, growth in foodservice industry, convenience and ready-to-use products, evolved eating habits.
The culinary sauces market size is expected to see steady growth in the next few years. It will grow to $61.96 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to plant-based and vegan sauces, sustainable and eco-friendly packaging, global fusion and cross-cultural influences, clean label and transparency, focus on bold and spicy flavors. Major trends in the forecast period include clean label and natural ingredients, authenticity and regional specificity:, convenience and ready-to-use formats, innovative flavors.
Growing veganism and vegetarianism are expected to propel the growth of the culinary sauce market going forward. A vegetarian is someone who abstains from consuming foods containing animal products, including rennet, gelatin, or crustaceans like prawns or crab. Veganism refers to abstaining from consuming dairy products, eggs, and other foods derived from animals. The culinary sauce helps vegetarians by adding flavor, improving the appearance of food, adding moisture, and adding taste contrast to the food. For instance, according to Sentient Media, a US-based nonprofit organization, the global vegan food market increased to $15.77 billion in 2021 from $14.44 billion in 2020 and is expected to grow further. Therefore, the growing veganism and vegetarianism are driving the growth of the culinary sauce market.
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The culinary sauces market covered in this report is segmented –
1) By Product Type: Hot Sauces, Soy Sauces, Barbeque Sauces, Oyster Sauces, Pasta Sauces, Tomato Sauces
2) By Packaging: Bottles And Jars, Pouches And Sachets, Other Packaging
3) By Distribution Channels: Modern Trade, Specialty Stores, Convenience Stores, Traditional Grocery Stores, Online Stores, Other Distribution Channels
4) By Application: Households, Food Processors, HoReCa
Product innovation is a key trend gaining popularity in the culinary sauce market. Major companies operating in the culinary sauces market are developing new products to sustain their position in the market. For instance, in October 2021, Patak, a UK-based company that focuses on ingredients for Indian cuisine, introduced new easy-to-cook sauces and a plant-based meal kit line with an Indian flair. Vegetables can be poured and simmered in Patak’s vegan cooking sauces, flavored with dal-style curries, and made with tomatoes, lentils, and Indian spices. Some flavor variations include Lentil Tikka Masala, Lentil Korma, and Lentil Jalfrezi. The meal kits come with a flavorful spice paste, brown rice or lentils that are simple to prepare, and a sachet of fried onions for topping.
The culinary sauces market report table of contents includes:
1. Executive Summary
2. Culinary Sauces Market Characteristics
3. Culinary Sauces Market Trends And Strategies
4. Culinary Sauces Impact Of COVID-19
5. Culinary Sauces Size And Growth
6. Culinary Sauces Segmentation
7. Culinary Sauces Regional And Country Analysis
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27.Culinary Sauces Competitive Landscape And Company Profiles
28. Culinary Sauces Key Mergers And Acquisitions
29.Culinary Sauces Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nestle S.A.,
- Unilever PLC,
- Olam International,
- The Kraft Heinz Company,
- General Mills Inc.
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