Hot Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Hot Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global hot sauce market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Hot sauce or chili sauce is manufactured using chili peppers, vinegar and other ingredients. It is used as condiments, dressings and seasonings. Hence, it can be consumed along with cooked food or used as an ingredient in cooking to add complementary or contrasting flavours. It has become a significant part of the modern kitchen; however, the preparation styles and flavours are different across the globe.
The demand for hot sauce has been witnessing significant growth with increasing popularity of Pan Asian and Latin American cuisines across the globe. Introduction of innovative sauce flavours with health beneficial attributes have further augmented the demand for hot sauce. In addition, increasing consumption of fast and frozen foods among the busy city-dwellers, especially in the emerging countries, has also led to an increased usage of hot sauce, thereby creating a positive impact in the market. Apart from that, increasing urban population, modernization of storage and logistics, rising number of expatriates in countries and cultural exchanges are some of the other factors that catalyse the growth of the hot sauce market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hot sauce market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, application, end-use, packaging and distribution channel.
Breakup by Product Type:
Mild Hot Sauce
Medium Hot Sauce
Very Hot Sauce
Amongst these, mild hot sauce represents the biggest segment, accounting for the largest market share.
Breakup by Application:
Cooking Sauce
Table sauce
Amongst these, cooking sauce represents the biggest segment, accounting for majority of the market share.
Breakup by End-Use:
Commercial
Household
Amongst these, commercial sector represents the biggest segment, accounting for majority of the market share.
Breakup by Packaging:
Jars
Bottles
Others
Amongst these, jars represent the leading segment, accounting for the highest market share.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Traditional Grocery Retailers
Online Stores
Others
Amongst these, supermarkets and hypermarkets represent the biggest distribution channel, accounting for the largest market share.
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Amongst these, North America represents the leading market, accounting for the majority of the hot sauce market share.
Competitive Landscape:
The report has also examined the competitive landscape of the market. Some of the major players include McIlhenny Company, McCormick & Company, Inc., Huy Fong Foods, Inc., Baumer Foods Inc., Garner Foods, B&G Foods, Inc., The Kraft Heinz Company, SALSA TAMAZULA SA DE CV., Schwartz, and Bruce Foods.
Key Questions Answered in This Report
1. What was the size of the global hot sauce market in 2022?
2. What is the expected growth rate of the global hot sauce market during 2023-2028?
3. What are the key factors driving the global hot sauce market?
4. What has been the impact of COVID-19 on the global hot sauce market?
5. What is the breakup of the global hot sauce market based on the product type?
6. What is the breakup of the global hot sauce market based on the application?
7. What is the breakup of the global hot sauce market based on the end use?
8. What is the breakup of the global hot sauce market based on the packaging?
9. What is the breakup of the global hot sauce market based on the distribution channel?
10. What are the key regions in the global hot sauce market?
11. Who are the key players/companies in the global hot sauce market?
The global hot sauce market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
Hot sauce or chili sauce is manufactured using chili peppers, vinegar and other ingredients. It is used as condiments, dressings and seasonings. Hence, it can be consumed along with cooked food or used as an ingredient in cooking to add complementary or contrasting flavours. It has become a significant part of the modern kitchen; however, the preparation styles and flavours are different across the globe.
The demand for hot sauce has been witnessing significant growth with increasing popularity of Pan Asian and Latin American cuisines across the globe. Introduction of innovative sauce flavours with health beneficial attributes have further augmented the demand for hot sauce. In addition, increasing consumption of fast and frozen foods among the busy city-dwellers, especially in the emerging countries, has also led to an increased usage of hot sauce, thereby creating a positive impact in the market. Apart from that, increasing urban population, modernization of storage and logistics, rising number of expatriates in countries and cultural exchanges are some of the other factors that catalyse the growth of the hot sauce market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hot sauce market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, application, end-use, packaging and distribution channel.
Breakup by Product Type:
Mild Hot Sauce
Medium Hot Sauce
Very Hot Sauce
Amongst these, mild hot sauce represents the biggest segment, accounting for the largest market share.
Breakup by Application:
Cooking Sauce
Table sauce
Amongst these, cooking sauce represents the biggest segment, accounting for majority of the market share.
Breakup by End-Use:
Commercial
Household
Amongst these, commercial sector represents the biggest segment, accounting for majority of the market share.
Breakup by Packaging:
Jars
Bottles
Others
Amongst these, jars represent the leading segment, accounting for the highest market share.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Traditional Grocery Retailers
Online Stores
Others
Amongst these, supermarkets and hypermarkets represent the biggest distribution channel, accounting for the largest market share.
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Amongst these, North America represents the leading market, accounting for the majority of the hot sauce market share.
Competitive Landscape:
The report has also examined the competitive landscape of the market. Some of the major players include McIlhenny Company, McCormick & Company, Inc., Huy Fong Foods, Inc., Baumer Foods Inc., Garner Foods, B&G Foods, Inc., The Kraft Heinz Company, SALSA TAMAZULA SA DE CV., Schwartz, and Bruce Foods.
Key Questions Answered in This Report
1. What was the size of the global hot sauce market in 2022?
2. What is the expected growth rate of the global hot sauce market during 2023-2028?
3. What are the key factors driving the global hot sauce market?
4. What has been the impact of COVID-19 on the global hot sauce market?
5. What is the breakup of the global hot sauce market based on the product type?
6. What is the breakup of the global hot sauce market based on the application?
7. What is the breakup of the global hot sauce market based on the end use?
8. What is the breakup of the global hot sauce market based on the packaging?
9. What is the breakup of the global hot sauce market based on the distribution channel?
10. What are the key regions in the global hot sauce market?
11. Who are the key players/companies in the global hot sauce market?
Table of Contents
109 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Hot Sauce Market
- 5.1 Market Overview
- 5.2 Market Trends
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Region
- 5.5 Market Breakup by Product Type
- 5.6 Market Breakup by Application
- 5.7 Market Breakup by End-Use
- 5.8 Market Breakup by Packaging
- 5.9 Market Breakup by Distribution Channel
- 5.10 Market Forecast
- 5.11 SWOT Analysis
- 5.11.1 Overview
- 5.11.2 Strengths
- 5.11.3 Weaknesses
- 5.11.4 Opportunities
- 5.11.5 Threats
- 5.12 Value Chain Analysis
- 5.12.1 Overview
- 5.12.2 Raw Material Procurement
- 5.12.3 Manufacturing
- 5.12.4 Marketing
- 5.12.5 Distribution
- 5.12.6 End-Use
- 5.13 Porters Five Forces Analysis
- 5.13.1 Overview
- 5.13.2 Bargaining Power of Buyers
- 5.13.3 Bargaining Power of Suppliers
- 5.13.4 Degree of Competition
- 5.13.5 Threat of New Entrants
- 5.13.6 Threat of Substitutes
- 5.14 Price Analysis
- 5.14.1 Key Price Indicators
- 5.14.2 Price Structure
- 5.14.3 Margin Analysis
- 6 Market Breakup by Region
- 6.1 North America
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Europe
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Asia Pacific
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Latin America
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Middle East and Africa
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 7 Market Breakup by Product Type
- 7.1 Medium Hot Sauce
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Mild Hot Sauce
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Very Hot Sauce
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Cooking Sauce
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Table Sauce
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 9 Market Breakup by End-Use
- 9.1 Commercial
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Household
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 10 Market Breakup by Packaging
- 10.1 Jars
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Bottles
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Others
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 11 Market Breakup by Distribution Channel
- 11.1 Supermarkets and Hypermarkets
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Traditional Grocery Retailers
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Online Stores
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Others
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 12 Hot Sauce Manufacturing Process
- 12.1 Product Overview
- 12.2 Raw Material Requirements
- 12.3 Manufacturing Process
- 12.4 Key Success and Risk Factors
- 13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 McIlhenny Company
- 13.3.2 McCormick & Company, Inc .
- 13.3.3 Huy Fong Food
- 13.3.4 Baumer Foods
- 13.3.5 Garner Foods
- 13.3.6 B&G Foods
- 13.3.7 The Kraft Heinz Company
- 13.3.8 SALSA TAMAZULA SA DE CV .
- 13.3.9 Bruce Foods
- 13.3.10 Schwartz
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