Cooking Sauces Market Size Report, Industry Share, Analysis, Growth, 2030

Cooking Sauces Market Insights

Zion Market Research has published a report on the global Cooking Sauces Market, estimating its value at USD 46.48 Billion in 2023, with projections indicating that it will reach USD 68.48 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 4.4% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Cooking Sauces Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Cooking Sauces Industry Perspective:

The global cooking sauces market size accounted for USD 29.5 Billion in 2020 and is expected to reach USD 37.6 Billion by 2028, growing at a CAGR of 3.4% from 2021 to 2028.

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The report analyzes the global cooking sauces market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cooking sauces industry.

Cooking sauces are food ingredients used for enhancing the flavor, texture, and color of food during cooking. They are primarily of two types, wet and dry, and are available in a variety of flavors for a wide range of purposes and ingredients. The constantly evolving tastes of consumers and increasing demand for exciting and spicy flavors have been the major growth driver of this market. Moreover, a rising number of consumers taking to their kitchens and experimenting with new cuisines and flavors can also boost market growth.

With more consumers turning vegan and resorting to organic substitutes for food items, manufacturers of cooking sauces are increasingly looking for healthier, organic ingredients. Additionally, a surge in demand for on-the-go meals and food products such as instant noodles, salads, sandwiches, burgers, and others has led to increased production of sauce pouches that can be conveniently used by consumers when on the move.

COVID-19 Impact Analysis

The restrictions and lockdowns imposed to curb the spread of COVID-19 have encouraged people to cook and experiment with food at home. This shift from ordering in and eating out to cooking at home is expected to give a boost to the cooking sauces market as people experiment in their kitchens. However, the same has also affected production and logistics and caused labour shortage in countries such as India which may have a negative impact on the overall production.

Cooking Sauces Market: Growth Factors

Technological advancements with the introduction of robots and machines in the food industry can be expected to give a significant boost to the cooking sauces market by enabling a greater variety of flavors and variants within the sauces.

Working professionals, especially women with hectic lifestyles are increasingly looking for quick-fix meal options for their families, an important factor that can propel the growth of this market and open up new opportunities for key players. Collaborations and partnerships among key players to introduce new variants of cooking sauces can further enhance growth.

Cooking Sauces Market: Report Scope

Product Segment Analysis Preview

The wet segment held a share of around 75% in 2020. This is attributable to its already high consumption all over the world. It comprises sauces such as soy sauce, tomato sauce, pasta sauce, salad dressings, barbeque, mustard, and chilly among others. As the demand for ready-to-use sauces increases, manufacturers are expected to drive this segment with new product launches. For instance, Jubilant FoodWorks in India recently launched a range of ready-to-cook sauces under the brand ChefBoss.     

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Distribution Channel Segment Analysis Preview

The online segment will grow at a CAGR of over 4% from 2021 to 2028. This is attributable to its growing preference as a distributary channel, especially after the outbreak of Covid-19. With a surge of e-commerce websites offering doorstep delivery, consumers are increasingly taking to the online medium to order groceries including cooking sauces. Attractive offers and discounts offered by these sites can further boost online sales.

Cooking Sauces Market: Regional Analysis Preview

The European region held a share of around 35% in 2020. This is attributable to the presence of top cooking sauces manufacturers such as Nestle, Unilever, and Kraft Heinz among others. Sauces, dressings, and condiments are an essential part of European cuisine, and demand for them is expected to remain strong in the region. Moreover, steady growth in this region can be attributed to the penetration of international cuisines and flavors through tourism and hospitality.

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The Asia Pacific region is projected to grow at a CAGR of over 4% over the forecast period. This is mainly due to the increasing adoption of Western food styles and flavors among middle-class consumers of developing nations including India, China, and South Korea. Growing disposable incomes and the need for quick and easy-fix meals may also boost the growth of the market in this region.

Cooking Sauces Market: Key Players & Competitive Landscape

Some of the key players in the cooking sauces market are 

• Del Monte Foods
• Kraft Heinz Company
• Unilever
• Nestle
• Kikkoman Corporation
• Bolton Group
• Tas Gourmet Sauce Co. 
• among others.  

Players in this market are increasingly incorporating more flavors and textures in their product lines to suit constantly evolving consumer preferences. For instance, Epigamia in India recently launched a range of ghee-based spreads to cater to more health-conscious consumers in India who prefer ghee over processed butter.

Companies are also focusing on acquisitions and collaborations to leverage their market share. For instance, in April 2018, Kraft Heinz came into a partnership with Food Network for developing a line of products including salad dressings and cooking sauces named Food Kitchen Network Inspirations.

The global cooking sauces market is segmented as follows:

By Product

• Wet
• Dry

By Distribution Channel

• Convenience Stores
• Supermarkets
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa