How much will the Sauces, Dressings & Condiments industry be worth in the Future????



The global sauces, dressings, and condiments market size is expected to reach USD 181.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. Rising popularity of international cuisines among the youth adult customers is expected to remain a key factor boosting industry growth over the forecast period. Moreover, increasing demand for healthy and nutritious on-the-go food products has propelled the demand for a wide variety of sauces, condiments, and dressings.
Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Dips is expected to be the fastest growing product segment, expanding at a CAGR of 5.3% from 2019 to 2025. Changing diet pattern of the youth population owing to fast moving lifestyle has fueled the demand for dips and table sauces. Moreover, over the past few years, growing popularity of Asian cuisines in U.S. and European countries is propelling the demand for the condiments and dressings. According to an article published by ‘The Washington Post’, in 2014, Asian cuisines accounts for around 50% of the sales of the major restaurant chains present in U.S. This significant rising popularity of Asian cuisines across the globe is increasing the scope for the global market over the forecast period.
U.S. represented the world’s largest market for sauces, dressings, and condiments. Over the past few years, the major players of the region have adopted marketing strategies including innovative product launches as well as mergers and acquisitions in order to cater to the increasing demand for condiments and dressings. For instance, in December 2018, The Kraft Heinz Company launched a wide range of dips under the brand name Philadelphia Dips. Dips are available in three flavors: buffalo style with celery, jalapeño cheddar, and southwest style with black bean and corn.
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Further key findings from the report suggest:
·         By product, cooking sauces are projected to generate a revenue of more than USD 60 billion by the end of 2025. Dips are expected to expand at the fastest CAGR of 5.3% from 2019 to 2025
·         Asia Pacific held the largest share of 32.7% in 2018 and is projected to witness the fastest growth from 2019 to 2025
·         Key players in sauces, dressings, and condiments market include The Kraft Heinz Company; McCormick & Company, Inc.; Campbell Soup Company; Del Monte Foods Inc.; General Mills Inc.; Unilever Group; PepsiCo, Inc.; Nestlé SA; Conagra Brands, Inc.; and Kikkoman Sales USA, Inc.
The global sauces, dressings, and condiments market size was valued at USD 130.4 billion in 2018. Shifting consumer diet preferences and consumption pattern towards the healthy and nutritional food is a major factor for the industry growth. Furthermore, increasing popularity of the international cuisines, coupled with flavorful ethnic sauces, is fueling the demand for the sauces, dressings, and condiments.
Consumers are shifting towards natural and organic food products, which are tastier, healthier, and more nutritious. This consumption trend is widespread among the young adult population across the globe. These beliefs among consumers who seek for products with clean label, coupled with increasing concerns over food safety, are resulting in a shift in preferences towards the purchase of sauces, dressings, and condiments. In addition, rapid urbanization, coupled with growing consumer interest in multi-cuisine culture, is anticipated to fuel the demand for sauces, dressings, and condiments in the foreseeable future. Moreover, significant increase in the product innovations and new product launches are supporting the industry growth.
Increasing popularity of Asian cuisines in U.S. has increased the demand for different flavors of sauces, dressings, and condiments. According to an article published by ‘The Washington Post’, in 2014, large restaurants chains in U.S. account for 50% of their sale through Asian cuisines across U.S. For instance, ‘Panda Express’ a fast food restaurant chain that reported a sales of USD 2 billion in which 50% was reported from the Asian cuisines. This growing popularity of international cuisines across the globe is expected to expand the scope of the market for sauces, dressings, and condiments over the forecast period.
Governments across the globe are taking initiatives in order to promote the condiments, sauces, and dressing products. Many governments are providing incentives as well as subsidies on import of products, which is opening new avenues for the trader. For instance, the governments of South Korea and Australia have reduced tariff on tomato ketchup as well as prepared mustard (prime ingredient for mustard sauce) from 4.5% in 2016 to 3.4% in 2017 under the Korea-Australia Free Trade Agreement (KAFTA). These significant reduction of tariffs increased the opportunities for the Australian traders to enter the South Korea. These initiatives by the governments are supporting the increasing demand for the sauces, dressings, and condiments.
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Cooking sauces held the largest share of 38.1% in 2018. Key industry participants are launching new products in order to cater to increasing demand for cooking sauces as a result of rising popularity of international cuisines across the globe. For instance, in March 2017, Kinneret Farm, an Israel-based company, launched a wide range of cooking sauces, marinades, and natural date molasses under the brand name, ‘Oriendi’ for the U.K. market. These products offer new flavors as well as convenience to the customers. These product innovations are expected to drive the market for sauces, dressings, and condiments in the coming years.
Dips is expected to be the fastest growing segment, expanding at a CAGR of 5.3% from 2019 to 2025 owing to increasing demand for the on-the-go food among the youth population across the globe. Manufacturers are launching new and innovative products, in order to gain the maximum consumer base. For instance, in December 2018, The Kraft Heinz Company launched a wide range of dips under the brand name, Philadelphia Dips. The dips are available in three flavorsincluding jalapeño cheddar, southwest style with black bean and corn, and buffalo style with celery. These product launches are expected to remain favorable for the dips segment over the forecast period, thereby driving the market for sauces, dressings, and condiments.
Grand View Research has segmented the global sauces, dressings, and condiments market on the basis of product, distribution channel:
Sauces, Dressings & Condiments Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Table Sauces
·         Cooking Sauces
·         Pickled Products
·         Purees & Pastes
·         Dips
·         Others
Sauces, Dressings & Condiments Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Offline
·         Online
Offline was the largest distribution channel with a share of 81.5% in 2018. This supply channel includes convenience stores, supermarkets, brand outlets, hypermarkets, unorganized retail, and direct selling. Major players of sauces, dressings, and condiments such as Walmart, Amazon, and 7-Eleven are investing in developing countries, such as India, Thailand, and Taiwan, in order to cater to the increasing consumer demand for sauces, dressings, and condiments.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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