Global Cooking Sauces Market to Reach $62 Billion by 2030
The global market for Cooking Sauces estimated at US$46.9 Billion in the year 2023, is expected to reach US$62 Billion by 2030, growing at a CAGR of 4.1% over the period 2023-2030. Wet Cooking Sauces, one of the segments analyzed in the report, is expected to record 4% CAGR and reach US$52.3 Billion by the end of the analysis period. Growth in the Dry Cooking Sauces segment is estimated at 4.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.4 Billion, While China is Forecast to Grow at 6.2% CAGR
The Cooking Sauces market in the U.S. is estimated at US$12.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$13 Billion by the year 2030 trailing a CAGR of 6.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.
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