Sauces, condiments & dressings market to exceed $35.6 billion
Sauces, condiments and dressings have been an integral part of the global food culture, according to the report Global Sauces, Condiments and Dressing Market - Growth, Trends and Forecasts (2016 - 2021) by Research and Markets (researchandmarkets.com). The growing urbanization, high disposable income, and increased interest in multi-cuisine culture are expected to drive the market for these products. Owing to the growing product innovations and product differentiation, the global market for sauces, condiments and dressings is expected to cross U.S. $35.6 billion by 2021 at a CAGR of 4.7%.
The global sauces, condiments and dressings market is segmented on the basis of product type, ingredients distribution channels and geography. By the product type, the market is broadly segmented into table sauces and dressings, dips, cooking sauces, pastes and purees, pickled products and others. Cooking sauces like dry sauce, pasta sauce and herbs & spices account for the majority of the market share, followed by table sauces and dressings.
Dips and pickled products are expected to show the highest growth potential in the forecast period. By ingredients, fruits and vegetables have most of the demand, followed by condiments and herbs & spices. Food additives like texturants and flavor enhancers are expected to grow at a high CAGR.