Rising Demand for Ready-To-Eat Foods Powering Sales of Sauces in U.S.

With the daily lives of people getting busier, on account of long working hours and hectic workdays, the demand for ready-to-eat food items is soaring rapidly in the U.S. This is subsequently pushing up the demand for sauces in the country. Moreover, the sharp surge in the number of working professionals, especially in the urban areas, is massively boosting the demand for sauces in the country. Sauces are extremely useful for cooking and preparing meals quickly and without much hassle.

Apart from the aforementioned factor, the increasing disposable income of the people residing in the country is also propelling the sales of sauces in the U.S. As per various reports and surveys, the disposable income of U.S. citizens grew to as much as 4% from January 2018 to January 2019. This has caused a massive rise in the sales of fast food items and ready-to-eat foods all over the country.

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Additionally, the rising popularity of ethnic dishes and cuisines is also fueling the demand for sauces in the country. With rapid globalization and increasing culinary exchange between people from different countries, the popularity of ethnic cuisines is growing rapidly in the country. Younger citizens in the country are nowadays preferring experimentation with various flavors available in different ethnic cuisines. Moreover, the growing consumer preference for Chinese, Indian, Greek, and Japanese cuisines is propelling the sales of sauces in the country.

Due to the above-mentioned factors, the U.S. sauces market is exhibiting rapid expansion. The valuation of the market will grow from $18.6 billion in 2018 to $22.4 billion by 2024. Furthermore, the market will progress at a CAGR of 3.3% between 2019 and 2024. Mayonnaise, soy sauce, tomato sauce, chili sauce, barbecue sauce, mustard sauce, horseradish sauce, schezwan sauce, oyster sauce, vinaigrette, cocktail sauce, curry sauce, fish sauce, and Worcestershire/steak sauce are the most widely consumed sauces in the country.

Out of these, the demand for mayonnaise was found to be the highest during the past few years. This was because of the huge demand for fast-foods and salads and the huge requirement for snack foods in the country in the past years. In the near future, the demand for chili and soy sauce will soar sharply in the country, as per the estimates of P&S Intelligence, a market research company based in India.

In the U.S., sauces are mainly sold via convenience stores, specialist stores, discount stores, forecourt retailers, health and beauty specialist retailers, independent small grocers, hypermarkets/supermarkets, and online portals. Out of these, the sales of sauces were observed to be the highest in the country via supermarkets/hypermarkets in the years gone by. This was because of the greater consumer preference for buying sauces in these outlets over online portals and other stores.

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Hence, it can be said with full surety that the demand for sauces will shoot up in the U.S. in the forthcoming years, mainly because of the rising popularity of ready-to-eat, ethnic, and exotic food items in the country.

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This release was published on openPR.