Sauces, Condiments, and Dressings Market: Online Stores to Generate Significant Revenues
Published : 13 Dec 2017 Industry: Food & Beverage
Growing preference for spicy food products has led the manufacturers to opt for natural and organic ingredients. In addition, surge in demand for flavor enhancers in food products such as rice and pasta is projected to boost sales of the condiments, sauces, and dressings globally. Fact.MR states that the global market of sauces, condiments, and dressings is projected to reflect a CAGR of 2.3% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global sauces, condiments, and dressings market is mainly bound to various macro-economic and micro-economic factors. Shift in consumer preferences for consumption of spicy food products is projected to rev up demand for condiments and sauces in the food industry. Surge in consumption of delicacies such as rice and pasta will continue to boost demand for various sauces and condiments to enhance the flavor of the food products. As primary quality assessment of the sauces continue to be measuring pH level, manufacturers are concentrating on acidification of sauces during the production process.
Growing concerns regarding health has led the manufacturers to include natural and organic ingredients while manufacturing various food products. Moreover, growing need to consume food products while travelling and working is further expected to rev up demand for the sauces and condiments in the food industry. Increasing preference for convenience food products has further led to surge in demand for ready-to-use sauce pouches in restaurants and hotels. Expansion of the online food delivery portals will also continue to boost demand for the sauces and dressing globally. Growing need to deliver food products with various sauces is projected to impact the global market growth of sauces, condiments, and dressing positively.
However, excessive or daily consumption of hot sauces is projected to adversely affect the health of consumers. In a recent report, CDC stated that overconsumption of salt raises the possibility of cerebrovascular accidents or stroke, heart disease and hypertension. In addition, the WHO states that the recommended consumption level of salt for a person should not exceed 5 grams every day. As sodium is an important ingredient for production of range of hot sauces, customers can be prone to various health issues.
Overconsumption of hot sauce can result in acid reflux or GERD (gastroesophageal reflux disease). In order to prevent gastroesophageal reflux diseases, customers with sensitive stomach avoid consuming spicy and hot sauces. Moreover, increasing consumption of various tomato sauces leads to various health problems such as dizziness, headache, and vomiting. Attributed to such factors, demand for dressing, sauces, and condiments is projected to remain low throughout the forecast period.
Sales to Remain High Through Online Stores
Growing preference to enhance flavors of various food products has revved up demand for cooking sauce in various food outlets and restaurants. In terms of revenue, the cooking sauce product type segment is projected to witness the high growth, recording more than US$ 14,500 Mn by 2026-end. On the other hand, the pickled product type segment is projected to reflect a significant CAGR throughout the forecast period.
By 2017-end, the foodchain services distribution channel segment is projected to witness robust revenue growth, accounting for more than US$ 9,700 Mn. In contrary, the online store distribution channel segment is projected to represent the fastest growth in the global market of sauces, condiments, and dressing during the forecast period.
Major players in the global market of sauces, condiments, and dressing are Hormel Foods Corp, General Mills Inc, ConAgra Foods Inc, Nestle SA, The Kraft and Heinz Company, McCormick & Co Inc, PepsiCo Inc., Unilever Group, Clorox Co, The and Kikkoman Corp.