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The global culinary sauces market size is projected to reach USD 55.31 billion by 2027 on account of increasing availability of cooking sauces on e-commerce platforms, states Fortune Business Insights™ in its report, titled “Culinary Sauces Market Size, Share & COVID-19 Impact Analysis, By Type (Dry and Wet), Application (Households, Food Processors, and HoReCa), End-use (B2C and B2B), and Regional Forecast, 2020 – 2027”. The report further states that the value of the global market stood at USD 43.53 billion in 2019 and is expected to register a CAGR of 3.3% from 2020 to 2027.
The culinary sauces market growth is likely to be negatively impacted by the COVID-19 pandemic as governments have been implementing lockdowns and social distancing rules, which has drastically reduced footfalls in cafes and restaurants worldwide. Adding to this are travel bans and trade restrictions, which have adversely affected global supply chains and the food industry in general.
Conagra Releases New Line of Innovative Food Products
Conagra Brands, the Chicago-based packaged foods leader, rolled out a wide range of snacking products in September 2019 under its broad portfolios, which include frozen & refrigerated meals, condiments & enhancers, and shelf table meals. Prominent among these is the company’s newly introduced sauce offering called “Mango Sweet & Sour Sauce”. Combining the essence of ginger and lime, the sauce can be used for various purposes, including dipping, marinating, and cooking. Moreover, the flavors suffused into the sauce make it ideal for cooking Asian-styled meals at home. This innovation is expected to strengthen Conagra’s position in the culinary sauces domain and deepen its hold on the packaged foods industry.
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Wide Popularity of Umami to Boost the Market
Umami is described as a combined taste of nucleotides and glutamates and occurs naturally in common foods such as fish, meat, dairy products, and vegetables. Like salt, umami enhances the flavor the food it is added into, and is known to stimulate appetite and augment satisfaction quotient of the food item. As a result, the flavor is widely infused in popular foods such as pizzas, soups, and cooked meat. Manufacturers of culinary sauces have been utilizing the power of umami to create delectable sauces. For instance, soy sauce is one of the most popular umami-based sauces as it is heavy in sodium and commonly poured into East Asian preparations. Foods rich in umami are gaining popularity among the youth in urban areas, where the demand for exotic, premium preparations is surging, which is benefiting the global market.
Product Innovation to be the Area of Concentration for Market Players
Tastes and preferences of consumers, especially with regards to food and beverages, are constantly evolving. Globalization has led to a prolific interaction of cultures, exposing people to diverse food preparations and introducing new flavors to traditional dishes. Companies in the food industry need to constantly innovate to meet the changing demands and consumption patterns of consumers. To meet this challenge, players in this market are creating and launching innovative offerings on a regular basis to expand their business horizons and generate new sales opportunities.
List of Key Players Covered in the Culinary Sauces Market Report:
Further Report Findings:
Table of Segmentation:
Value (USD Billion)
Type, Application, End-use, and Region