Meticulous Research®, a leading global market research company, published a research report titled, ‘Sauces, Dressings, and Condiments Market by Type [Sauces (Cooking, Table), Purees, Pastes, Dips], Ingredients (Food Additives, Herbs, Spices), Distribution Channel (Supermarkets, Hypermarkets, Convenience Stores, E-commerce) - Global Forecast to 2030."
According to this latest publication from Meticulous Research®, the global sauces, dressings, and condiments market is slated to register a CAGR of 4.5% from 2023–2030 to reach $217.3 billion by 2030. The growth of this market is mainly attributed to the rising demand for on-the-go snacks, the increasing popularity of international cuisines, changing lifestyles and hectic schedules of the working population, and the expansion of the retail industry across the globe. However, the rising health-conscious consumer is expected to restrain the growth of this market to a notable extent.
The sauces, dressings, and condiments market is segmented by type (sauces [cooking sauces, table sauces, other sauces}, purees & pastes, dips, pickled products and other product types), ingredients (fruits and vegetables, herbs and spices, food additives, and other ingredients), distribution channel (business-to-business (B2C) [supermarkets & hypermarkets, convenience stores, specialty stores, e-commerce, other retail channels], business-to-business (B2B)), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, in 2023, the sauces segment is expected to account for the largest share of the global sauces, dressings, and condiments market. The large market share of this segment is attributed to its increasing demand from the food service industry and household use, increasing consumer preference for ethnic, authentic, and umami flavors, and growing adoption of innovative sauces, such as gluten-free, natural, and organic.
Based on distribution channel, the e-commerce segment is expected to register the fastest growth in the sauces, dressings, and condiments market for the B2C distribution channel. The rapid growth of this segment is mainly attributed to the rising internet penetration, growing preference for consumer convenience, availability of greater discounts compared to modern trade, and greater product selection experience.
Based on geography, in 2023, Asia-Pacific is slated to register the fastest growth rate during the forecast period. The fast growth of this regional market is mainly attributed to the changing lifestyles, rising disposable incomes, rapid urbanization & industrialization, rising number of working women, and growing e-commerce penetration.
The global sauces, dressings, and condiments market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global sauces, dressings, and condiments market are Conagra Brands, Inc. (U.S.), Daiya Foods Inc. (Canada), General Mills, Inc. (U.S.), Vandemoortele Europe NV (Belgium), The Kraft Heinz Company (U.S.), McCormick & Company, Inc. (U.S.), Campbell Soup Company (U.S.), Unilever Group (U.K.), Nestle S.A. (Switzerland), Kikkoman Corporation (Japan), Sweet Baby Ray's (U.S.), Lee Kum Kee (China), and Sovos Brands, Inc. (U.S.)
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