NEW YORK, Aug. 5, 2024 /PRNewswire/ -- The
global sauces and dressings market size is estimated to
grow by USD 30.3 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 4.48% during the forecast period. New product launches
is driving market growth, with a trend towards emergence of private
label brands. However, fluctuating raw material prices poses a
challenge. Key market players include Campbell Soup Co., Coles
Group Ltd., Conagra Brands Inc., General Mills Inc., Haven Row LLC, Hope Foods LLC,
Hormel Foods Corp., Kikkoman Corp., Kinneret Farm LTD, Lee Kum Kee, Mars Inc., McCormick and Co. Inc.,
McDonald Corp., Nandos Group, Nestle SA, PepsiCo Inc., Sabra
Dipping Co. LLC, SAJJ Mediterranean, Sweet Baby Rays, The Kraft
Heinz Co., and Unilever PLC.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Table and
cooking sauces, Dressings, Pickled products, and Others) and
Geography (APAC, North America, Europe, South America, and Middle
East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Campbell Soup Co.,
Coles Group Ltd., Conagra Brands Inc., General Mills Inc., Haven
Row LLC, Hope Foods LLC, Hormel Foods Corp., Kikkoman Corp.,
Kinneret Farm LTD, Lee Kum Kee, Mars Inc., McCormick and Co. Inc.,
McDonald Corp., Nandos Group, Nestle SA, PepsiCo Inc., Sabra
Dipping Co. LLC, SAJJ Mediterranean, Sweet Baby Rays, The Kraft
Heinz Co., and Unilever PLC
|
Key Market Trends Fueling Growth
The sauces and dressings market is experiencing growth due to
the rise of private label brands. These brands offer affordable
alternatives to consumers, as they are priced lower than mainstream
labels. Supermarkets, such as Walmart, have capitalized on this
trend by introducing their own private label brands, like Great
Value sauces. More chains are expected to follow suit, increasing
the market's competitiveness. Supermarkets are also expanding their
private label offerings' shelf space and promoting them in-store.
This trend is set to continue, contributing significantly to the
sauces and dressings market's expansion during the forecast
period.
The Sauces and Dressings market in the
United States is experiencing significant trends driven by
health objectives and modern lifestyles. Consumers are increasingly
seeking organic, sugar-free, low-sodium, plant-based options for
their meal taste enhancement. The food service industry, including
restaurants, cafes, and fast food chains, are responding by
offering nutritious cooking sauces made from herbs, spices, and
seasonings. Premium food products, such as soy sauce, miso, mirin,
kimchi, bulgogi, and bibimbap, are gaining popularity due to their
ethnic flavors. Health-conscious consumers are also demanding
gluten-free and vegan options for ethnic sauces, such as Indian,
Chinese, Thai, and Italian cuisines. The young adult population is
driving the demand for clean label and food safety in sauce and
dressing offerings. Nutritious cooking sauces made from natural
ingredients and regional flavors are becoming a must-have for menu
offerings. The trend towards international cuisines and ethnic
sauces is expected to continue, making the market a vibrant and
dynamic space for innovation and growth.
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Market Challenges
- The sauces and dressings market experiences challenges due to
the volatility in raw material prices, particularly in sectors like
oyster sauces and pasta sauces. Fluctuations in the price of
ingredients such as sugar, salt, oysters, condiments, and
vegetables impact manufacturing costs and vendor profit margins.
For instance, in the oyster sauce sector, price variations of key
ingredients affect the final product's cost structure. Similarly,
in the pasta sauce market, the price instability of tomatoes,
garlic, and cheese influences the overall market dynamics. These
price fluctuations can lead to increased manufacturing costs,
reducing profit margins for businesses. To cope with these
challenges, vendors often seek cheaper substitutes, adding
complexity to the market dynamics. The power dynamics between
suppliers and vendors further complicate the situation, potentially
impacting the competitiveness of the market. In summary, the sauces
and dressings market faces hurdles due to the unpredictability of
raw material prices, which can hinder profitability and
growth.
- The Sauces and Dressings market is thriving, with growing
demand for healthy options. Consumers want low-fat, low-sugar,
natural ingredient sauces and dressings for their plant-based
diets, including vegan sauces for vegetarians and vegans. Labeling
transparency and quality control standards are crucial.
Ready-to-use sauces are a quick solution for busy individuals, with
tomato & chilli and tomato flavors popular. Brands like Birch
Benders offer natural channel products, including ready-to-eat
options and keto-friendly cookies for Paleo baking and breakfast
mixes. Condiments and dressings add authentic flavors to meal
preparation, catering to various culinary experiences and dietary
habits. Cultural exchange through fusion cuisine enhances health
and wellness, making sauces and dressings an essential part of the
modern kitchen.
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challenges - Download a Sample Report
Segment Overview
This sauces and dressings market report extensively covers
market segmentation by
- Product
- 1.1 Table and cooking sauces
- 1.2 Dressings
- 1.3 Pickled products
- 1.4 Others
- Geography
- 2.1 APAC
- 2.2 North America
- 2.3 Europe
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Table and cooking sauces- The table sauces
segment led the global sauces and dressings market in terms of
revenue in 2023. Popular table sauces such as tomato ketchup,
mustard sauce, mayonnaise, brown sauce, apple sauce, and cranberry
sauce are widely consumed for their affordability and ability to
enhance food flavors. With the rise in home cooking, consumers use
table sauces in various ways to customize dishes. New product
launches and innovations, including low-fat and low-salt sauces,
further fuel market growth. Do Anything Foods' new line-up of kale
pesto, beet pesto, cauliflower alfredo, butternut squash sauce, and
tomato veggie sauce illustrates this trend. Mayonnaise's popularity
as a table sauce is increasing, particularly in India. The cooking sauces segment is also
expected to grow due to its convenience and affordability, allowing
consumers with limited culinary skills to prepare diverse meals.
Cooking sauces come in wet and dry varieties, including Mexican,
Italian, Indian, marinades, Oriental sauces, and powdered
mixes.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Sauces and Dressings market encompasses a wide range of
condiments that add taste, flavor, and cultural exchange to meal
preparation. From classic tomato ketchup and dips to international
ethnic sauces, pasta and purees, pickled products, fruits and
vegetable sauces, herbs and spices, and food additives, these
products offer quick solutions for busy individuals cooking at home
or in large restaurant chains. With a growing emphasis on
nutritional food, clean label, and food safety, the market caters
to the young adult population's demand for multi-cuisine culture.
Supermarkets and hypermarkets, as well as specialist retailers,
stock an extensive variety of sauces and dressings, providing
consumers with a diverse culinary experience.
Market Research Overview
The Sauces and Dressings market encompasses a wide range of
Condiments, from savory Cooking Sauces to sweet and tangy
Dressings. These flavorsome additions enhance meal preparation for
busy individuals, providing quick solutions for culinary
experiences at home. Cultural exchange through ethnic cuisines,
such as Soy Sauce from Chinese and Japanese cuisines, Miso, Mirin,
Kimchi, Bulgogi, and Bibimbap from Korean cuisine, Indian Curries,
or Thai Peanut Sauce, adds authentic flavors to modern lifestyles.
Health-conscious consumers seek organic, sugar-free, low-sodium,
plant-based, and nutritious cooking sauces, catering to various
dietary habits and health objectives. The Food Service Industry,
including restaurants, cafes, fast food chains, and dining
establishments, is a significant market for sauces and dressings.
Premium food products like Tomato Ketchup, Mustard, and Mayonnaise
are popular in convenience stores, brand outlets, and supermarkets.
The unorganized retail sector, direct selling, and specialist
retailers also contribute to the market's growth. Dips, Pasta and
Purees, Pickled Products, Fruits and Vegetables, Herbs and Spices,
Food Additives, and Pasta are essential components of this diverse
market. The market's appeal extends to various consumer
preferences, including Fusion Cuisine, Clean Label, Food Safety,
and Multi-cuisine culture. The young adult population's growing
interest in international cuisines and ethnic sauces adds to the
market's expansion. The market offers a vast array of taste,
flavor, aroma, and texture, catering to the modern consumer's
diverse culinary needs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Table And Cooking Sauces
- Dressings
- Pickled Products
- Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio