Opportunities in Seasonings, Dressings and Sauces Sector

Opportunities in Seasonings, Dressings and Sauces Sector

Summary

The global seasonings, dressings & sauces sector was valued at $159.2 billion in 2021 and is forecast to generate a CAGR of 6.1% during 2021-2026 to reach $200.3 billion in 2026. In volume terms, the sector is predicted to grow from 36.4 billion kg in 2021 to 40.4 billion kg in 2026, at a CAGR of 5.2%. Asia-Pacific represented the largest region for the global seasonings, dressings & sauces sector in 2021, with a value share of 38.8%, followed by the Americas and Western Europe, which accounted for 27.8% and 19.2% shares, respectively. Among all the regions, Middle East & Africa and Eastern Europe are forecast to record the highest growth rates at 6.7% and 5.4%, respectively, during 2021-2026. In 2021, the condiment sauces category held the highest value and volume shares with 26.8% and 29%, respectively. Bouillons & stocks is set to be the fastest-growing category, with a projected value CAGR of 5.2%, during 2021-2026. Out of the top 10 high-potential countries, the US was the leading seasonings, dressings & sauces market in 2020, with a value share of 18.6%. It was followed by China with a share of 13.9%. However, China was the largest market in the sector by volume in 2021, with an 18.7% share. Meanwhile, among the high-potential countries, Turkey is forecast to record the fastest value CAGR during 2021-2026, at 11.4%.

Consumers today have become highly selective when purchasing products in the sector, owing to health considerations. Subsequently, there is a growing desire for more seasonings, dressings & sauces products that are labeled organic/natural, additive-free, or low/no sodium. Encouraged by this, manufacturers are launching products with claims of natural/organic and free from artificial preservatives. The primary function of seasonings, dressings & sauces is to add flavor to food products. Growing consumer demand for novel and unique flavors in their food is driving the current need for product innovation and experimentation of ingredients in the sector. Manufacturers, as a result, are launching products in new tastes and flavors, which can help consumers to customize their food as they prefer.

This report brings together multiple data sources to provide a comprehensive overview of the global seasonings, dressings & sauces sector. It includes analysis on the following -

• Sector overview: Provides an overview of the current sector scenario and the future outlook in terms of ingredients, product claims, labeling, and packaging. The analysis also covers overviews across five regions - Asia-Pacific, Middle East & Africa, the Americas, Western Europe, and Eastern Europe - highlighting sector sizes, growth factors, latest developments, and future inhibitors.
• Change in consumption: Provides a summary of any shift in the consumption of seasonings, dressings & sauces as compared with other major food sectors such as bakery & cereals, meat, and dairy & soy food during 2016-2026 at global and regional levels.
• High-potential countries: Provides risk-reward analysis of the top 10 high-potential countries globally based on market assessment, economic development, governance indicators,
sociodemographic factors, and technological infrastructure.
• Country and regional analysis: Provides deep-dive analysis of 10 high-potential countries covering value growth during 2021-2026, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for the region.
• Health & wellness analysis**: Provides insights on health & wellness products in terms of value and percentage share in the overall seasonings, dressings & sauces sector at a global and regional level during 2015-2020. The analysis includes key health & wellness attributes and consumer benefits driving sales of seasonings, dressings & sauces products across the five regions in 2020. It also covers the market shares of leading companies offering seasonings, dressings & sauces products with health and wellness attributes.
• Competitive landscape: Provides an overview of leading companies and brands at a global and a regional level, besides analyzing product profile, country-level presence, market share, and the growth of private labels in each region.
• Key distribution channels: Provides analysis on the leading distribution channels in the global seasonings, dressings & sauces sector in 2021. It covers hypermarkets & supermarkets, convenience stores, e-retailers, food & drinks specialists, “dollar stores”, variety stores & general merchandise retailers, cash & carries & warehouse clubs, department stores, and others.
• Preferred packaging formats**: The report provides percentage share (in 2021) and growth analysis (during 2016-2026) for various packaging materials, types, closures, and outer types based on volume sales (by pack units) of seasonings, dressings & sauces products.

• Provides an overview of current industry scenario regarding the future outlook in terms of ingredients, product claims, labeling, and packaging.
• The analysis also covers regional overview across five regions - Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe - highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.

• Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
• The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
• The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
• To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates