The launch of new flavors, introduction of low-fat substitutes, rise in the utilization of organic and natural ingredients, and increasing willingness of consumers to try international cuisines. On the basis of type, the market is divided into dips, table sauces, pastes & purees, pickled products, cooking ingredients, and others.
as table sauces are utilized extensively with snacks and fast foods as instant accompaniments. Table sauces are further of different types, namely horseradish sauce, chili sauce, mayonnaise, soy sauce, oyster sauce, mustard sauce, and barbecue sauce. The demand for tomato sauce has been the highest in the past among all the table sauces.
The cooking ingredients division is predicted to grow at the fastest pace during the forecast period, owing to the increasing preference for home-cooked meals. When distribution channel is taken into consideration, the sauces, dressings, and condiments market is categorized into convenience stores, specialist retailers, supermarkets/hypermarkets, and others (which include internet retailers, non-grocery specialists, and mixed retailers). Out of all these, the convenience stores category is projected to register the highest CAGR during the forecast period, both in terms of value and volume.
Geographically, the sauces, dressings, and condiments market was dominated by Asia-Pacific, as the demand for Mexican and Chinese cuisines is increasing. Young people, especially, are becoming more and more open to experimenting with new types of foods. Owing to the fact that international cuisines make wide usage of sauces, dressings, and condiments for preparing food, their demand is rising as well.
The increasing disposable income of people is a major driving factor of the sauces, dressings, and condiments market. With globalization, the penetration of international cuisines has been rising all across the globe. People are becoming increasingly interested in trying out different kinds of cuisines, and improvement in the spending power of people, particularly in emerging economies, is enabling them to do the same. This is further leading to the growth of the market.
A key trend being witnessed in the sauces, dressings, and condiments market is the rising requirement for gluten-free and organic sauces. People these days are extensively becoming health-conscious, and hence are trying to cut back on foods that can have negative impact on their bodies. Due to this, the demand for gluten-free diet has increased. In addition to this, food & beverage companies that were conventionally offering sauces and other such products with gluten are now focusing on developing gluten-free products.
In conclusion, the market is growing due to the rising disposable income of people and increasing focus towards organic and natural food choices.