Global Hot Sauce Market to Reach US$ 7.9 Billion by 2032, Supported by Rising Consumption of Fast Foods

March 30, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "Hot Sauce Market Report by Product Type (Mild Hot Sauce, Medium Hot Sauce, Very Hot Sauce), Application (Cooking Sauce, Table sauce), End-Use (Commercial, Household), Packaging (Jars, Bottles, and Others), Distribution Channel (Supermarkets and Hypermarkets, Traditional Grocery Retailers, Online Stores, and Others), and Region 2024-2032," the global hot sauce market size reached US$ 5.2 Billion in 2023. Hot sauce refers to a pungent condiment manufactured by combining peppers and spices and served with a wide variety of dishes. It comprises a puree of chili peppers and garlic, along with salt to enhance the flavor of the product. It also contains various preservatives, such as vinegar, ascorbic acid or vitamin C, potassium sorbate, sodium benzoate, and sorbic acid, to maintain the original taste of the product for an extended period and prevent the contamination of microorganisms. Hot sauce often includes citric juices as a flavoring agent to extend the shelf life of the product. It is often incorporated with various fruit flavors, such as pineapple, mango, and blackberry, to provide sweet and tropical undertones and balance the spicy flavor of peppers. It is primarily added to a wide variety of food items, such as burgers, burritos, tacos, and omelets, and used for preparing marinades.

Global Hot Sauce Market Trends:

At present, the increasing demand for hot sauces due to the rising popularity of Latin American and Pan Asian cuisines around the world represents one of the key factors influencing the market positively. Besides this, the growing utilization of various condiments to incorporate umami flavors in preparing savory dishes is offering a favorable market outlook. In addition, the increasing number of restaurants, cafes, and fast-food chains selling a wide variety of flavorful dishes is propelling the growth of the market. Apart from this, the rising consumption of various packaged ready-to-eat (RTE) food products to eliminate the hassle of cooking is contributing to the growth of the market. Additionally, the increasing number of e-commerce brands and distribution channels selling hot sauces with organic peppers and low sodium content devoid of unhealthy additives is supporting the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.9 Billion by 2032, exhibiting a CAGR of 4.6% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been segmented into medium hot sauce, mild hot sauce, and very hot sauce. Mild hot sauce currently represents the largest segment.
Based on the application, the market has been bifurcated into cooking sauce and table sauce. At present, cooking sauce holds the largest share in the market.
On the basis of the end use, the market has been segregated into commercial and household. Presently, commercial is dominating the market.
Based on the packaging, the market has been divided into jars, bottles, and others. Presently, jars exhibit a clear dominance in the market.
On the basis of the distribution channel, the market has been classified into supermarkets and hypermarkets, traditional grocery retailers, online stores, and others. Presently, supermarkets and hypermarkets represent the biggest distribution channel.
Region-wise, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Amongst these, North America enjoys the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include McIlhenny Company, McCormick & Company, Inc., Huy Fong Food, Baumer Foods,, Garner Foods, B&G Foods, The Kraft Heinz Company, SALSA TAMAZULA SA DE CV, Bruce Foods, and Schwartz.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Application, End-Use, Packaging, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	McIlhenny Company, McCormick & Company, Inc., Huy Fong Foods, Inc., Baumer Foods Inc., Garner Foods, B&G Foods, Inc., The Kraft Heinz Company, SALSA TAMAZULA SA DE CV., Schwartz, and Bruce Foods
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Hot Sauce Market to Reach US$ 7.9 Billion by 2032, Supported by Rising Consumption of Fast Foods

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