Sauces are defined as the fluid or semi-solid paste used as a condiment across the food industries. Sauces are mainly used as a food additive as it enhances the flavor. Sauces are also used as dips and toppings and is popular amongst all the regions for its rich taste. Sauces are low in sodium and saturated fat which adds to the nutritional value of the product. The increasing consumption of flavor enhancers have increased the popularity of sauces during the forecast period.
Increasing demands for innovative food products with high nutritional value has a major impact on the Sauces market. The high demand for flavor enhancers is influencing the growth of Sauces market as a key ingredient. The developing technologies in the food sector has helped in fueling up the market share of the product by bringing innovations in the flavors of sauces. Shift in the consumption pattern backed up by rising health consciousness amongst the consumers has led to the growing share of Sauces globally.
The tomato sauce segment is evaluated to increase at higher rate based on rising consumer’s preference towards prominent sour and sweet flavors. Based on the specialty food-type amongst the sauces, the share held by low-carb sauces is found to escalate due to the less calorie imparted by the product into the body. Based on the packaging, squeeze bottles is found to be dominating the segment. The application of Sauces in ready-to-eat meals holds a major and prominent share followed by application in pasta and noodles.
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The key players profiled in the Global Sauces Market are Nestle SA (Switzerland), Kraft Foods Inc. (U.S.), Mars, Incorporated (U.S.), General Mills, Inc. (U.S.), ConAgra Food (U.S.), Unilever Plc. (U.K.), Hormel Foods Corporation (U.S.), The Kroger Company (U.S.)
- Application of the product as dips is evaluated to grow at a steady rate
- Top five exporters of Sauces include Germany, Italy, China, Netherlands and U.S.
Sauces has been segmented on the basis of type which comprises Mustard, Tomato, Chili Pepper, Soy, Others. The Tomato sauce segment is found to hold a major share due to high consumer’s preference.
Sauces has been segmented on the basis of specialty food-type which comprises Kosher, Gluten-Free, Vegan, Low-Carb, Low-Fat, Others. Low-Carb Sauces holds a lion’s share based on increasing health consciousness amongst the consumers.
Sauces has been segmented on the basis of packaging which comprises Glass Bottles, Squeeze Bottles, Sachets, Jars, Others. Squeeze Bottles are found to hold a major share amongst the given packaging type.
Sauces has been segmented on the basis of applications which comprises Dips, Dressings, Soups and Gravies, Pasta and Noodles, Ready-To-Eat Meals, Others. The Ready-To-Eat Meals segment is growing at a higher growth rate.
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The Global Sauces Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe region has the major market share followed by North America. Developing economy has led to increase in disposable income and changing consumer’s food preferences due to which Europe is projected to generate a high revenue during the given forecast period. The Major importers of Sauces include U.K., Canada, France, Germany and U.S. Based on the increasing consumption of food preparations with accompaniments, the import and export in the developed countries is found to rise at a steady growth rate.