"We Envision Growth Strategies Most Suited
to Your Business"

Hot Sauce Market to Exhibit 7.1% till 2028; Surya Foods Unveils Thai Dragon Hot Sauce Brand to Broaden its Existing Product Portfolio

May 26, 2021 | Food & Beverages

The global hot sauce market size is anticipated to grow from USD 2.71 billion in 2021 to USD 4.38 billion in 2028. Renowned companies are nowadays introducing innovative campaigns to attract more customers. For instance, in March 2021, TRUFF unveiled a TikTok competition named #HowITRUFFContest to encourage foodies to develop viral recipes using the company’s hot type of sauces, mayonnaise, or pasta sauces. Fortune Business Insights™ published this information in a new study, titled, “Hot Sauce Market Size, Share & COVID-19 Impact Analysis, By Type (Tabasco Pepper Sauce, Habanero Pepper Sauce, Jalapeno Sauce, Sweet and Spicy Sauce, and Others), Distribution Channel (Mass Merchandisers, Specialist Retailers, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2021-2028.” As per the study, the market stood at USD 2.54 billion in 2020. It is set to exhibit a CAGR of 7.1% in the forecast period between 2021-2028.


Mountain Dew Partners Up with Joel Embiid to Create its First Hot Sauce


In November 2020, PepsiCo’s Mountain Dew joined hands with Joel Embiid, American professional basketball player, to launch the brand’s first-ever hot type of sauce. A poll was conducted on Facebook and Twitter for selecting the best flavor of the same. Out of datil, habanero, fatalii, and peri-peri, the habanero ingredient received the maximum votes. It will contain the unique citrus flavor of Mountain Dew.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/hot-sauce-market-100495


Expansion of Hospitality and Tourism Sector to Accelerate Growth


The increasing influence of Asian cuisines, mainly Latin and Indian across the globe is set to bolster the hot sauce market growth in the forthcoming years. Mexico is considered to have the largest population of immigrants, followed by China and India. This would help the dietary patterns of people to evolve constantly. Besides, the expansion of the tourism and hospitality sector globally is expected to accelerate the internationalization of multiple cuisines. It is further set to surge the demand for ethnic and bold flavors of sauces. However, the persistent delay in manufacturing backed by the temporary closure of production facilities amid the COVID-19 pandemic may obstruct growth.


Key Players Aim to Gain Competitive Edge through Acquisitions and Partnerships


The market is consolidated with the presence of only a handful of manufacturers. But, in the upcoming years, a large number of new companies are expected to enter the market with their unique product offerings. Most of the key players are currently participating in partnerships and acquisitions to gain a competitive edge in this industry.


A Notable Industry Development-



  • May 2020: Surya Foods announced its entry into the hot type of sauce category by introducing its new Thai Dragon brand in Aldi and Tesco. It would have competitive prices and is inspired by Thai cuisines. The bottles are developed from 100% recyclable materials and come in Thai sriracha style.


Further Report Findings-



  • In 2020, North America procured USD 1.13 billion in terms of revenue in 2020. It is likely to dominate in the near future because of the rising popularity of chilli sauce in developed countries, such as Canada and the U.S. Also, the increasing spending power of consumers living in this region would aid growth.

  • Based on the distribution channel, the mass merchandiser and specialist stores segments generated 55.77% and 9.18% in terms of the Asia Pacific hot sauce market share in 2020, respectively.

  • By type, the tabasco pepper sauce segment earned a share of 22.62% in 2020 in the global market. The rising shift of consumers towards combination flavors and spicy or bold food items would augment growth.


Fortune Business Insights™ presents a list of prominent hot sauce providers operating in the global market. They are as follows:



  • The Kraft Heinz Company (Pennsylvania, United States)

  • McCormick & Company Inc. (Maryland, United States)

  • Campbell Soup Company (New Jersey, United States)

  • Unilever PLC. (London, United Kingdom)

  • Conagra Brands Inc. (Illinois, United States)

  • McIlhenny Company (Louisiana, United States)

  • Southeastern Mills, Inc. (Georgia, United States)

  • Hormel Foods Corporation (Minnesota, United States)

  • Baumer Foods, Inc. (California, United States)

  • T.W. Garner Food Company (North Carolina, United States)


The global market can be segmented in the following way:














































  ATTRIBUTE



  DETAILS



Study Period



  2015-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2015-2019



Unit



  Value (USD Billion)



Segmentation



  By Type, Distribution Channel, and Geography



By Type




  • Tabasco pepper Sauce

  • Habanero pepper Sauce

  • Jalapeño Sauce

  • Sweet and Spicy Sauce

  • Others



By Distribution Channel




  • Mass Merchandisers

  • Specialist Retailers

  • Convenience Stores

  • Online Retail

  • Others



By Geography




  • North America (By Type, Distribution Channel, and By Country)

    • The U.S.

    • Canada

    • Mexico



  • Europe (By Type, Distribution Channel, and By Country)

    • Germany

    • France

    • Italy

    • Spain

    • The U.K.



  • Rest of Europe

  • Asia Pacific (By Type, Distribution Channel, and By Country)

    • China

    • India

    • Japan

    • Australia

    • Rest of Asia Pacific



  • South America (By Type, Distribution Channel, and By Country)

    • Brazil

    • Argentina

    • Rest of South America



  • The Middle East and Africa (By Type, Distribution Channel, and By Country)

    • South Africa

    • UAE

    • Rest of ME&A




Hot Sauce Market
  • PDF
  • 2020
  • 2015-2019
  • 145

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Itic
BASF
Ntt
Toyota
GM
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X