Albany, New York, USA (PRWEB) October 26, 2013
A condiment is an edible substance that is added to some foods to inculcate particular flavor or in some cultures to compliment a dish. Sauce is a flavorful relish or seasoning served as an accompaniment to food. Some condiments are used during cooking to add texture to food or sometime added prior to serving as sauces in sandwiches. Their importance as taste and flavor, and their somewhat indulgent nature, saw high growth over the review period as consumers traded up to wet and chilled offering.
This industry manufactures products such as dressings, spices, mayonnaise, extracts and dry food mixes from a variety of ingredients. Producers of sauces and condiments fared well during the recession. Falling income prompted consumers to cook their own food at home, which enhanced the demand for ingredients from the industry. The radical shift from shifting restaurants to home–made cheaper food played a major role in propelling demand for food enhancer such as sauces and condiments.
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The sauces are projected to continue to thrive with the popularity of at-home dining. Variety of sauces that cover different market are barbecue sauce, ketchup, cocktail sauce, horseradish sauce, Worcestershire sauce, hot sauce, taco sauce, steak sauce, soy sauce, tartar sauce. Quick marinade products that are used to flavor meats, poultry and fish have become popular and prospects for future growth are impressive. Condiments ranks second in popularity in the world after cheese.
The United States is the leading country in both volume and revenue in this market. South Americans are particularly fond of condiments, and use sauces, dips, dressing, spices, herbs to add flavor to food. Brazil is the second largest market for condiments and sauces into dry cooking sauce category. European and Asia Pacific constitute of two of the most promising market potential for condiments and sauces. Asian-inspired condiments hold the major stake of consumption all over the world.
The rising demand of the exotic cuisines and steadily growing popularity of conventional food and trend toward innovative and attractive packing continues to drive this market. The raising pressure of Gluten-free product development is driving this market. Flavor, authenticity and convenience are main drivers of this market. Specialty condiments, regional, ethnic, and gourmet, continues to drive major growth in condiments market. Health oriented concerns over consumption of sauces and condiments causing disease such as heart attack and stroke that are limiting the growth of this market.
Some of the market players in this industry are Ajinomoto Co., Campbell Soup Company, Clorox Company, ConAgra Foods Inc., Frito-Lay Inc., H.J.Heinz Company, Kraft foods Inc, Lee Kum Kee, Nestle SA, and Unilever.
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Rest of the World
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Related Report: Chilled And Deli Food Market
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