Opportunities in the Western Europe Seasonings, Dressings & Sauces Sector: Analysis of opportunities offered by high growth economies
Western Europe accounted for a 20% value share in the global SDS sector in 2017, and is expected to grow from US$21,517.2 million in 2017 to US$27,169.5 million in 2022, registering a CAGR of 4.8%. Rising consumer demand for convenient products such as wet cooking sauces and tomato pastes and purées that reduce cooking time, and growing interest in ethnic flavors such as Thai, Indian and Mexican, are driving growth in the sector. Based on the relative performance of countries on multiple metrics, Denmark, the Netherlands, Spain and Austria were shortlisted as high potential countries, primarily due to the large SDS sector value, projected high value growth rates, and projected rising per capita value growth levels. Among the shortlisted high potential countries, Spain is the largest market with US$2,146.6 million value sales in 2017, followed by the Netherlands and Austria.
Wet cooking sauces is the largest market, accounting for 21.9% of the overall SDS value sales in 2017. The category is expected to grow from US$4,715.4 million in 2017 to US$5,540.5 million in 2022, at a CAGR 3.3%. Condiment sauces is the second largest market, with value sales of US$3,145.6 million in 2017, followed by herbs, spices & seasonings, and dressings. The value of seasonings, dressings & sauces with health & wellness attributes stood at US$1,000.8 million (4.7% of the overall SDS sector) in 2017 and is forecast to reach US$1,404.6 million in 2022, at a CAGR of 7.0%.
The Western Europe SDS sector is fragmented with the top five brands - Knorr, Heinz, Maggi, Kunhe, and Hellman’s - accounting for 18.3% of overall value sales in 2017. Meanwhile, private labels held a 15.9% share of overall value sales in the same year.
Hypermarkets & supermarkets is the largest distribution channel in the Western Europe SDS sector. In 2017, the channel accounted for 65.8% of overall value sales. Glass was the most commonly used pack material in the Western Europe SDS sector, with a 44.8% market share in 2017, while jar was the most popular container type used, accounting for a 33.5% share in the same year.
The report Opportunities in the Western Europe Seasonings, Dressings & Sauces Sector, brings together multiple data sources to provide a comprehensive overview of the region's SDS sector. It includes market overview, high growth country analysis, top brands, key distribution channels, packaging formats and case studies.
Companies mentioned: Unilever, The Kraft Heinz Co, Nestle SA, Mars, Incorporated, Premier Foods plc, Orkla Group, McCormick, Carl Kühne KG (GmbH & Co.) and Barilla.
This report brings together multiple data sources to provide a comprehensive overview of the Seasonings, Dressings & Sauces sector in the region. It includes analysis on the following -
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