"We Envision Growth Strategies Most Suited
to Your Business"

Hot Sauce Market to Expand at a CAGR of 7.26% During Forecast; Factors such as Rising Availability of Unique & Umami Flavors to Aid Growth

May 04, 2022 | Food & Beverages

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:


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


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:



  • November 2020: PepsiCo’s Mountain Dew announced a partnership agreement with American professional basketball player Joel Embiid to expand its presence by introducing the brand’s first-ever hot sauce.


List of Players in the Market:



  • The Kraft Heinz Company (U.S.)

  • McCormick & Company Inc. (U.S.)

  • Campbell Soup Company (U.S.)

  • Unilever PLC. (U.K.)

  • Conagra Brands Inc. (U.S.)

  • McIlhenny Company (U.S.)

  • Southeastern Mills, Inc. (U.S.)

  • Hormel Foods Corporation (U.S.)

  • Baumer Foods, Inc. (U.S.)

  • T.W. Garner Food Company (U.S.)


Further Report Findings:



  • Mass merchandisers are expected to witness the largest segmental growth during the forecast period owing to rising preference by consumers for shopping condiments and food ingredients in supermarkets and hypermarkets. Online retail channels will also register a higher market share due to rising internet penetration and higher convenience & wider product choices.

  • North America will hold the dominant hot sauce market share during the forecast period due to increased consumer spending power coupled with diversification of food flavors in the region. The rising popularity of chili sauce in the region will further increase the footprint of the market.


Table of Segmentation:














































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



By Type




  • Tabasco Pepper Sauce

  • Habanero Pepper Sauce

  • Jalapeño Sauce

  • Sweet and Spicy Sauce

  • Others



By Distribution Channels




  • Mass Merchandisers

  • Specialist Retailers

  • Convenience Stores

  • Online Retail

  • Others



By Geography




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

    • U.S. (Distribution Channels)

    • Canada (Distribution Channels)

    • Mexico (Distribution Channels)



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

    • Germany (Distribution Channels)

    • France (Distribution Channels)

    • Italy (Distribution Channels)

    • Spain (Distribution Channels)

    • U.K. (Distribution Channels)

    • Rest of Europe (Distribution Channels)



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

    • China (Distribution Channels)

    • India (Distribution Channels)

    • Japan (Distribution Channels)

    • Australia (Distribution Channels)

    • Rest of Asia Pacific (Distribution Channels)



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

    • Brazil (Distribution Channels)

    • Argentina (Distribution Channels)

    • Rest of South America (Distribution Channels)



  • Middle East and Africa (By Type, Distribution Channels, and by Country)

    • South Africa (Distribution Channels)

    • UAE (Distribution Channels)

    • Rest of ME&A (Distribution Channels)




Hot Sauce Market
  • PDF
  • 2021
  • 2018-2020
  • 191

    CHOOSE LICENSE TYPE

  • 4850
    5850
    7850

Our Clients

We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X