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Culinary Sauces Market Forecast 2023-2032 - Market Size, Drivers, Trends
Culinary Sauces Market
The Business Research Company's Culinary Sauces Global Market Report 2023 identifies Growing veganism and vegetarianism as the major driver for the Culinary Sauces market's growth in the forecast period. A vegetarian is someone who abstains from consuming foods containing animal products, including rennet, gelatin, or crustaceans like prawns or crab. Veganism refers to abstaining from consuming dairy products, eggs, and other foods derived from animals.
The global culinary sauces market is expected to grow from $46.36 billion in 2022 to $49.04 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The culinary sauces market is expected to reach $58.84 billion in 2027 at a CAGR of 4.7%.
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Major competitors in the Culinary Sauces market are Nestle S.A., Unilever plc, Olam International, The Kraft Heinz Company, General Mills Inc., Hormel Foods Corporation.
A key trend in the Culinary Sauces market includes product innovation. Major companies operating in the culinary sauces market are developing new products to sustain their position in the market. For instance, in October 2021, Patak, a UK-based company that focuses on ingredients for Indian cuisine, introduced new easy-to-cook sauces and a plant-based meal kit line with an Indian flair. Vegetables can be poured and simmered in Patak's vegan cooking sauces, flavored with dal-style curries, and made with tomatoes, lentils, and Indian spices. Some flavor variations include Lentil Tikka Masala, Lentil Korma, and Lentil Jalfrezi.
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The Culinary Sauces market is segmented -
• By Product Type: Hot Sauces, Soy Sauces, Barbeque Sauces, Oyster Sauces, Pasta Sauces, Tomato Sauces
• By Packaging: Bottles And Jars, Pouches And Sachets, Other Packaging
• By Distribution Channels: Modern Trade, Specialty Stores, Convenience Stores, Traditional Grocery Stores, Online Stores, Other Distribution Channels
• By Application: Households, Food Processors, HoReCa
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Culinary Sauces market.
The Business Research Company's "Global Culinary Sauces Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Culinary Sauces Market Include:
1. Executive Summary
2. Culinary Sauces Market Characteristics
3. Culinary Sauces Market Trends And Strategies
4. Culinary Sauces Market - Macro Economic Scenario
5. Global Culinary Sauces Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
………………………………………………………………………..
32. Global Culinary Sauces Market Competitive Benchmarking
33. Global Culinary Sauces Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Culinary Sauces Market
35. Culinary Sauces Market Future Outlook and Potential Analysis
36. Appendix
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