U.S. Sauces Market Projected to Have a Stable Growth for the Next Few Years

Posted on 2019-07-25 by P&S Intelligence in Consumer Services // 0 Comments

The U.S. sauces market is expected to reach $22.4 billion by 2024, registering a CAGR of 3.3%, during the forecast period. The market growth market can be attributed to increasing popularity of ethnic cuisines, busy lifestyle and rising disposable income of the populace, and changing consumer preferences toward healthier and unique flavor products in the country.

Based on table sauces, U.S. sauces market is categorized into mayonnaise, tomato sauce, soy sauce, barbecue sauce, chili sauce, mustard sauce, schezwan sauce, horseradish sauce, oyster sauce, and others, wherein ‘others’ include vinaigrette, Worcestershire/steak sauce, cocktail sauce, fish sauce, and curry sauce. Among these, mayonnaise category held largest share in the market.

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Based on distribution channel, U.S. sauces market is segmented into supermarkets/hypermarkets, conveniencestores, online, specialist stores, and others, wherein ‘others’ include discount stores, health and beauty specialist retailers, forecourt retailers, and independent small grocers.

Increasing popularity of ethnic cuisines is a major factor contributing to the growth of sauces marketin U.S. With globalization and culinary cultural exchange, demand for ethnic cuisines in the country is on the rise. The younger population in the country prefer experimenting with new flavors available in different cuisines.

Moreover, the online channel is expected to be the fastest growing distribution channel category, and is expected to register highest CAGR during the forecast period. This can be attributed to growing retail e-commerce sales in the country. For instance, in 2018, e-commerce accounted for 14.3% share of total retail sales, an increase from 12.9% in 2017.

U.S. sauces market is a highly competitive market. Companies like The Kraft Heinz Company, Conagra Brands Inc., C.H. Guenther & Son Inc., were majorly involved in mergers and acquisitions to increase their market share in the country as well as globally. The Kraft Heinz Company and McCormick & Company Incorporated were also busy in partnerships to better serve the consumers through new technologies and new products.

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Some of the key players operating in the U.S. sauces market are Kikkoman Corporation, McCormick & Company Incorporated, The Kraft Heinz Company, Unilever Group, Conagra Brands Inc., Del Monte Foods Inc., Edward & Sons Trading Company Inc., Ken’s Foods Inc., General Mills Inc., Nestle S.A., C.H. Guenther & Son Inc., and Tas Gourmet Sauce Co.

U.S. Sauces Market Segmentation

Market Segmentation by Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Specialist Stores
• Others (discount stores, health and beauty specialist retailers, forecourt retailers, and independent small grocers)
Market Segmentation by Region
• South
• West
• Northeast
• Midwest

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