Global
Hot Sauce: Overview
Hot
sauces are generally made from chilli peppers and other ingredients
such as salt, vinegar, garlic, xanthan gum, and many others. In
terms of nutrients, hot sauces do not contain significant amounts of
fats, carbohydrates, proteins and vitamins, but are yet gaining wide
popularity across the globe. Many companies in the hot sauce industry
do not disclose the type of pepper being used. Manufacturers often
engage in aging contains of manufacturing hot sauces to achieve the
desired taste. These sauces are generally distributed through
wholesales, supermarkets, small food stores, and through players in
the food service space. Companies in the hot sauce industry often
invest significantly in marketing and advertising, as product
differentiation is peripheral.
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Global
Hot Sauce: Market Dynamics
Globally
the prime factor driving the demand for hot sauces is the influence
of Asian, particularly Indian, and Latin cuisine across all
geographies. Increasing young population coupled with increasing
globalization has led to an advent of diversity in food choices of
young people, who are significantly proffering spices, thus fuelling
revenues in the global hot sauce market. Further rising consumption
of fast food among busy city dwellers can be considered as another
factor for the increasing demand for hot sauces, particularly in the
developing countries of Asia. Moreover, improving life style has led
people across the globe try different cuisines, which can be
considered as another prominent factor driving the demand for hot
sauces. Apart from this, increasing trends for food travelling across
the globe is also escalating the demand for hot sauces.
Global
Hot Sauce: Segmentation
On
the basis of type, Global Hot Sauce is segmented into:-
- Minerals
- Vitamins
- Carbohydrates
- Prebiotics
- Probiotics
- Others
On
the basis of application, Global Hot Sauce is segmented into:-
- Cereals & Cereal-Based Products
- Dairy & Dairy Products
- Fats & Oils
- Infant Formula
- Dietary Supplements
- Bulk Food Items
- Pet food, animal feed, and animal nutrition
- Others
Global
Hot Sauce: Region wise Outlook
The
global
Hot Sauce market
is divided into seven regions, namely North America, Latin America,
Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe,
Japan and Middle East and Africa (MEA). Asia Pacific Exc. Japan is
the global leader in terms of consumption of hot sauces, amid cuisine
in the China, Indonesia, Malaysia, Singapore and Thailand favouring
spices as a major ingredients. Moreover, in terms of growth in the
hot sauces market, North America, is anticipated to be the fastest
growing market for the demand of hot sauces, as the youth in the US
showing high preference for spicy foods, and restaurants in the
region significantly incorporating more and more recipes
incorporating hot sauces. Western Europe accounts for a small share
of the global hot sauce market and due to increasing preference
towards healthy food in the region, demand in the region is
anticipated to expand sluggishly over the forecast period. Middle
East and Asia is another prominent region for the continuous demand
for hot sauces. In Latin America is anticipated to remain as a
prominent market for the demand of hot sauces, with a majority of
demand coming from Mexico and Brazil. As recent studies have shown
high preference towards hot sauce among 65+ population, demand from
Japan is anticipated to expand significantly over the forecast
period.
Global
Hot Sauce: Key Players
Some
of the key players identified in the global Hot Sauce Market
includes:
- Huy Fong Foods
- B&G Foods
- Frito-Lay, Inc
- Sunrise Foods LLC
- Fresh Foods International LLc
- KCT Food Inc.
- Socodal Conserves
- Obelisk International Foodstuff Inc.
- Yu Lin Chilli Sauce Company
- Sinaloa Food Co.
- Salsas Tierra Brava
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