Sauces are semi-solid liquids that are served with food items as an accompaniment. These are mainly used to enhance the flavour of any dishes.
Market players are offering various types of sauces such as mustard sauce, hot sauce, soy sauce, barbecue sauce, and ketchup, which are used by most of the foodservice providers worldwide.
According to the Global Sauces Market Research Report, the global sauces market is projected to grow at a significant rate of 5.1% from 2019 to 2024 to reach a market value of USD 80 billion by the end of 2024.
Customized and convenience packaging for sauces is one of the factors to the growth of the sauces market globally. Advancements in e-commerce and organized retail stores is another factor that is expected to fuel the market growth of sauces.
What is the major driver for the food sauces market?
- The growing demand for ethnic and diverse cuisines is likely to be a major driver for the sauces market.
What is the leading regional sauces market?
- Europe is expected to dominate the global sauces market.
As the global market for food sauces expanding, F&B manufacturers could take a leap into this sector. The growing trend towards health and wellness would help to boost sauces sales and manufacturers able to focus on consumer demand and their attributes for culinary sauces ingredients organic, natural, no sodium or no synthetic flavours and preservatives.
The Asia-Pacific market is expected to generate the highest CAGR in the global sauces market in the near future as the market possesses a large consumer base in this region. International market players are offering various types of sauces with different flavours and this provides a number of options for consumers to choose from.