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Savoring Success: Culinary Sauces Driving Global Taste Trends
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According to The Business Research Company's, The culinary sauces market size has grown strongly in recent years. It will grow from $49.04 billion in 2023 to $51.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to culinary diversity and globalization, changed consumer lifestyles, increased consumer interest in ethnic cuisines, growth in foodservice industry, convenience and ready-to-use products, evolved eating habits.
The culinary sauces market size is expected to see steady growth in the next few years. It will grow to $61.96 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to plant-based and vegan sauces, sustainable and eco-friendly packaging, global fusion and cross-cultural influences, clean label and transparency, focus on bold and spicy flavors. Major trends in the forecast period include clean label and natural ingredients, authenticity and regional specificity:, convenience and ready-to-use formats, innovative flavors.
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Market Drivers and Trends:
Growing veganism and vegetarianism are expected to propel the growth of the culinary sauce market going forward. 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 culinary sauce helps vegetarians by adding flavor, improving the appearance of food, adding moisture, and adding taste contrast to the food. For instance, according to Sentient Media, a US-based nonprofit organization, the global vegan food market increased to $15.77 billion in 2021 from $14.44 billion in 2020 and is expected to grow further. Therefore, the growing veganism and vegetarianism are driving the growth of the culinary sauce market.
Product innovation is a key trend gaining popularity in the culinary sauce market. 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. The meal kits come with a flavorful spice paste, brown rice or lentils that are simple to prepare, and a sachet of fried onions for topping.
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Major Key Players of the Market:
Nestle S.A., Unilever plc, Olam International, The Kraft Heinz Company, General Mills Inc., Hormel Foods Corporation, Conagra Brands Inc., Campbell Soup Company, The Clorox Company, McCormick & Company Inc., Kikkoman Corporation, B&G Foods Inc., The Morning Star Company, Yamasa Corporation, Ken's Foods Inc., Develey, Sugal Group, McIlhenny Company, Paradise Tomato Kitchens, Vanee Foods Company, Ingomar Packing Co., Xinjiang Chalkis Company Ltd., Los Gatos Tomato Products, Baumer Foods Inc., Stello Foods Inc., Del Monte Foods Inc., Palace Foods Inc., King's Cupboard, COFCO Tunhe Tomato Co. Ltd.
Culinary Sauces Market 2024 Key Insights:
• The culinary sauces market size is expected to see steady growth in the next few years. It will grow to $61.96 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
• The Surging Culinary Sauce Market Fueled By The Rise Of Veganism And Vegetarianism
• Vegan Cooking Sauces And Plant-Based Meal Kits In The Culinary Sauce Market
• Asia-Pacific was the largest region in the culinary sauces market in 2023, and is expected to be the fastest-growing region in the forecast period
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