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Asia Pacific secured the second position in the global hot sauce market. It is projected to grow at a CAGR of 8.00% during the forecast period. The global market for hot sauce is projected to grow from USD 2.89 billion in 2022 to USD 5.09 billion by 2030.
In today’s era, with the rising economy due to liberalization and more consumption from consumers of all classes, food as something to be enjoyed and as part of culture is a famous topic. With changing lifestyles, the food habits of individuals have also changed, whether it is dining out, a preference for western cuisine, or using products that make cooking at home convenient. These are some of the factors that led to the growth of the food and beverage industry. In Asia Pacific, hot sauce is used as a primary ingredient in the cooking and dressing of a variety of food preparations and added for contrasting flavor to the prepared meal.
Our report on the Asia Pacific market share covers the following countries/regions – China, India, Japan, Australia, and the Rest of Asia Pacific.
Rising Demand for Customized Hot Sauces Propels the Regional Growth
Across all food & beverage industries, the past few years have consistently shown the trend of customers turning to novel flavors in order to fulfill their needs. Dips and hot sauces have played a significant role in home cooked food during the pandemic phase, as they allow adding vivid flavors to the familiar dishes as per the choices and building on classic entrees. Nowadays, the changes in the food manufacturing businesses are occurring alongside a shift in what consumers need from their meals. Thus, there is a move toward customized products, including hot sauces to ensure that the individual eats as per their choices.
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Surging Consumption of Fast Food across the Region Escalates the Growth Rate
The Asian market is thriving at a significant rate and has grown incredibly in the past few years. Sauces have been an inevitable part of many Asian cultures across the globe due to the growing surge in cross-cultural influence and rising demand for savory flavors. As there is growth in the adoption of western cuisines, the demand for fast food and snacks has increased considerably among young consumers. Moreover, street foods are also playing a major role in the growth of the hot sauce segment, as sauces are often combined with a majority of dishes in order to make them more flavorful and exciting. Furthermore, with the escalated surge in tourism and travel and enthusiasm for food exploration, the food processing industry is expected to witness a spike in demand for hot sauces with food items. Thus, the startups and other prominent players are also collaborating with other leading players, which, in turn, will improve the product offerings.
According to FAOSTAT data, the production of raw materials for hot sauce rose by a slight percent of 0.30% in 2020 from 2019.
Raw Material Adulteration to Impact Product Quality and Impact Market’s Growth
One of the major factors impacting the hot sauce acceptance among consumers is the adulteration of raw materials. Using adulterated raw materials, such as spices and chilies, in hot sauce manufacturing impacts the product’s quality and makes the product unsafe for consumption. The use of chemical additives such as mercury sulfide to improve the color of chilies can result in long-term damage to health. For instance, on November 2020, adulterated chili powder was seized from a sauce-making unit in Cuttack, India. This deters consumers from buying products and impedes the Asia Pacific hot sauce market growth. Thus, governments in different countries are adopting strict measures and safety protocols over the manufacturing plants to ensure that safe and better quality raw materials are used for manufacturing such products.
In terms of competitive landscape, East by Northeast, Integrow Brands Pvt. Ltd., and El Diablo Sauces are the leading players of the Asia Pacific market due to their extensive efforts in expanding their product offerings by actively collaborating or acquiring other companies.
Other prominent players such as NAAGIN Sauces and Thaitan Foods International Co. Ltd. are also leading the market due to their strong market penetration and increased focus on adding new flavor variants to their portfolios.
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The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the number of procedures, an overview of price analysis of product types, overview of the regulatory scenario by key countries, new product launches, key industry developments – mergers, acquisitions & partnerships and, the impact of COVID-19 on the market.
CAGR of 8.00% from 2023 to 2030
Value (USD Million)
By Type, Distribution Channel, and Country/Sub-Region
By Distribution Channel
Growing at a CAGR of 8.00%, the market will exhibit steady growth in the forecast period (2023-2030).
Surging consumption of fast food across the region boosts the market growth.
East by Northeast, El Diablo Sauces, and Pico Sauces are some of the key players in the market.
China dominated the market in 2021.
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