No matter where you go in the world, one food item will pretty much be everywhere. Hot sauce is one of the most popular condiments on the market today. In some parts of the world is more popular than others, but there are very few places where hot sauce is not popular with a certain portion of the population. As such, the global market has great reach and can be very lucrative.
In the United States, the condiments that dominate the market generally include things like barbecue sauce, mustard, ketchup and mayonnaise. But hot sauce has seen a huge amount of growth even in this market and especially major growth across the world. One of the reasons for this is that Asian cuisine goes well with hot sauce and Asian cuisine has become a favorite among young people in the United States.
Experts are predicting that the market is going to continue to thrive and even grow. Those not familiar with the history of the condiment and the current popularity numbers might think that hot sauce has become as popular as it is ever going to be, but the fact is that the market has been thriving and experiencing steady growth for many years.
Even though there has been a great deal of growth in this industry, and there is a lot of money to be made, there is no dominant player in the market. This is one of the most fragmented markets out there in the majority of manufacturers are small scale companies that grow when the demand in their region increases.
Economic experts in the food industry are predicting that hot sauce is going to become more popular in kitchens all over the world. Part of the reason for that is that Ready-to-Eat foods have become quite popular lately and there is also an increase in the number of things that you can do with hot sauce.
Most hot sauces on the market right now are made with an extract of chili peppers, mixed in with other ingredients like vinegar, garlic and salt. There isn't a whole lot of nutrition with hot sauce - or any other condiment for that matter - but the taste supersedes that. One of the interesting things about the hot sauce industry is that most companies keep the exact recipe of their hot sauce a secret. They do not list on the bottle what type of pepper is used and do a great deal of experimentation to get the taste exactly right.
The main things that experts attribute to the rising popularity of hot sauce are the shifts to Asian, Latin and Indian cuisine all over the world. The 18-24 market has one of the most diverse diets of any other group from any other point in history. Because most people live in an urban area where there are restaurants from almost every culture, the need for variety has grown, especially among young people. In addition, traveling is easier than ever and a lot of young people are doing that as well.
When it comes to type, hot sauce globally can be categorized into carbohydrates, vitamins, minerals pre and probiotics and everything else. Global hot sauce can also be segmented into different categories based upon application. For example: cereals, dairy products, fats and oils, dietary foods, bulk foods, pet foods and everything else.
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Even though there are no major players in the hot sauce industry, because the market share is so spread out, there are some companies that are recognizable as hot sauce manufacturers. Note that in some cases, these manufacturers may not actually produce hot sauce, since the hot sauce and the barbeque sauce industries are often grouped together by market researchers. They include:
It is somewhat difficult to categorize hot sauce based upon strength because each brand will usually have their own name for the various strengths that they offer. However, in a very general sense, you can classify hot sauce as hot, medium hot and very hot. When it comes to the end user, hot sauce is categorized into just two sections, the commercial restaurant Market and hot sauce for home use.
When it comes to hot sauce, the most popular region you will find it in is South and Central America. You’ll particularly find hot sauce popular in Belize, Chile, Peru, Bolivia and Panama. However, it is also quite popular in North America, particularly in Mexico where nearly every person uses hot sauce in their cooking or as a condiment with their food. But even in the United States, more than half of the households there have a bottle of hot sauce in the kitchen.
Hot sauce is also quite popular in the West Indies, Barbados, Puerto Rico, Jamaica, Haiti and in East Asia where China, Japan and Korea are the major markets. You will find hot sauce in Southeast Asia and places like Singapore, Indonesia, Thailand, Vietnam and more. In Europe, two of the hottest chili peppers in the world were created in the United Kingdom and hot sauce is quite popular there as well.