"We Envision Growth Strategies Most Suited
to Your Business"
The global hot sauce market size reached USD 2.17 billion in 2021. The market value is estimated to increase from USD 2.89 billion in 2022 to USD 4.72 billion in 2029 at a CAGR of 7.26% in 2022-2029. This information is published by Fortune Business Insights™, in its report, 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), By Distribution Channel (Mass Merchandisers, Specialist Retailers, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2022-2029”
Irregular Growth Observed due to Disrupted Supply Chains & Rising Demand During Pandemic
The COVID-19 pandemic affected the market at an irregular rate. The market witnessed negative growth during the initial stages of the pandemic owing to supply chain disruptions and volatility in raw material pricing. Some regions registered positive growth during the forecast period as consumers were instructed to work from home to curb the spread of the virus. People were further asked to stock up on essential commodities’ which further led to a surge in market volume.
Rising popularity within various cuisines and innovations in culinary aspects will further fuel the growth of the market during the forecast period. The stronger demand was negated by delays in product processing, manufacturing, and demand-supply instability. The rising inclination of home cook food towards maintaining standard health and wellness will increase the footprint of the market.
Bibigo Announced Launching GOTCHU – A Unique Korean Sauce
Bibigo announces GOTCHU, an authentic Korean hot sauce to its offering of traditionally inspired Korean refreshments such as Mini Wontons, Steamed Dumplings, and Mandu. The sauce is made by Gochujang, which is a Korean hot pepper paste. Gochujang is further fermented for giving a complex heated and distinctive flavor. Bibigo says that GOTCHU can be savored any time with many meal choices during the summer.
The sauce possesses a slow built-up in flavor rather than an overpowering taste. It’s further layered with a sweet, earthy, and savory flavor that hopes to add a new dimensionality to your meals. Bibigo says that the new sauce blends perfectly with K-Food and will be made available in two flavors – Classic & Extra Spicy.
To get a detailed report summary and research scope of this market, click here:
Increased Usage of Premium Products & Rising Consumption of Mexican & Asian Cuisines to Foster Growth
Factors such as rising consumer inclination, increasing globalization, rising flavor availability such as peppery & spicy, and increasing popularity among the urban population will boost the hot sauce market growth during the forecast period. Additionally, the integration of nutritional profiles, data-driven organic positioning, and non-GMO-based products will increase the market’s footprint.
Increasing adoption of premium products will increase the revenue generated by the dominant players. According to the U.S. Bureau of Labor Statistics, an increase in price trend for spices, sauces, and condiments saw a surge of 10.89%. The rising availability of innovative offerings and increasing demand for healthier products will further fuel the growth of the market.
Key Industry Development:
List of Players in the Market:
Further Report Findings:
Table of Segmentation:
Value (USD billion)
By Distribution Channels