Sauces Market Analysis
The Global Sauces Market is predicted to touch USD 80 billion at a 5.1% CAGR between 2019-2024, reveals the latest Market Research Future (MRFR) report. A sauce, simply put, is a semi-solid, cream, or liquid food used to prepare or served on other foods. Mostly they are consumed by themselves, and help to add moisture, flavor, and visual appeal to a dish. Different types of sauces are available in the market, such as ketchup, barbecue sauces, soy sauces, hot sauces, mustard sauces, and others. Sauces can be used for savory or sweet dishes. It plays a big role in maximizing flavor in the food.
Various factors are propelling the Sauces Market Report growth. These factors, as per the new Market Research Future (MRFR) report, include increasing preference for international flavors and ethnic cuisines by consumers, growing popularity of home cooking, demand for convenience, and customized packaging for sauces by various food processors, and advancements in organized retail stores and e-commerce.
Key Players
Major players profiled in the Sauces Market report include The Kraft Heinz Company (US), Unilever PLC (UK), Northwest Gourmet Foods (US), Nestle S.A.(Switzerland), McCormick & Company, Inc. (US), Hain Celestial (US), Orkla ASA (Norway), ACH Food Companies, Inc. (US), Quattro Foods (UK), Concord Foods, LLC (US), The Kroger Co. (US), CSC BRANDS, L.P.(US), Conagra Brands, Inc. (US), The Clorox Company (US), OTAFUKU SAUCE Co., Ltd. (Japan)
Regional Analysis
By region, the Sauces Market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America, and the Rest of the World. Of these, Europe will have the lion’s share in the market over the forecast period. This is chiefly on account of the growing demand for ethnic cuisines and quick food recipes.
The Sauces Market in the APAC region is predicted to grow at the highest CAGR over the forecast period. This is chiefly on account of a huge consumer base in the region. International market players are providing different types of sauces with various flavors, thereby giving consumers multiple options to select from.
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The Sauces Market in North America is predicted to have healthy growth over the forecast period. Factors pushing growth in the region include various discounts and product offered by e-commerce platforms, a growing number of dual-income households, an increasing number of supermarkets and hypermarkets, and increasing consumer demand for high-quality, healthy, and natural food.
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