Press release
Pasta Sauce Market Size Projected To Reach Approximately USD 4.60 Billion By 2026
The global Pasta Sauce Market garnered $3.10 billion in 2019, and is expected to reach $4.60 billion by 2026, witnessing a CAGR of 5.8% from 2019 to 2026.Get Sample PDF Of This Report: https://www.alliedmarketresearch.com/request-sample/6388
Drivers, restraints, and opportunities
Increase in demand for intercontinental cuisine, surge in demand from the HRI sector (Hotel, restaurants, and Institutions), and advancements in the fast food industry drive the growth of the global pasta sauce market. However, high cost of raw material and processing and government regulations on the use of preservatives hinder the market growth. On the other hand, rise in western food influence in emerging countries would create new opportunities in coming years.
Leading market players
B&G Foods, Inc
ConAgra Foods, Inc
Lassonde Industries Inc
Barilla G. e R. Fratelli S.p.A
Campbell Soup Company
Premier Foods Group Limited
Del Monte Foods, Inc
Mars
Incorporated
Mizkan America, Inc
The Kraft Heinz Company
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The red sauce segment to continue its dominant share throughout the forecast period
Based on type, the red sauce segment accounted for nearly one-fifth of the total share of the global pasta sauce market in 2019, and is estimated to continue its dominant share throughout the forecast period. This is attributed to multiple use of red sauce in pasta as well as other fast food recipes across the globe. However, the vegetable sauce segment is estimated to witness the largest CAGR of 6.1% from 2019 to 2026, owing to rise in number of health conscious and vegan people across the globe.
The supermarkets/hypermarkets segment to maintain its lead status by 2026
Based on distribution, the supermarkets/hypermarkets segment held the highest market share of the global pasta sauce market, accounting for more than one-third of the total share in 2019, and is projected to maintain its lead status throughout the forecast period. This is attributed to availability of all types of pasta sauces with various discounts. However, the online store segment is expected to register at the highest CAGR of 6.1% from 2019 to 2026, owing to the rise in the penetration of internet.
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North America to maintain its leadership position in terms of revenue by 2026
Based on region, North America contributed to the highest market share based on revenue, holding more than two-fifths of the global pasta sauce market in 2019, and is estimated to maintain its leadership position in terms of revenue by 2026. This is due to increase in the application of pasta sauces in food and beverage for various recipes. However, Asia-Pacific is expected to grow at the highest CAGR of 4.9% from 2019 to 2026.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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