Condiments, Sauces, Dressings and Seasonings: A Global Strategic Business Report
San Jose, California (PRWEB) April 03, 2012
Follow us on LinkedIn – Condiments, sauces, dressings, and seasonings have been an integral part of cooking for a long time. However, the profile of a typical family has changed dramatically over the past two decades. A rising number of women have joined the work force. Both single-parent households and two-income households are growing in number, and the number of single-person households is also on the rise. Though most consumers want to enjoy their meals, they have less time or desire to cook. Many condiment sauces and seasoning mixes are ideal, providing a tasty and convenient way to pep up simple dishes. Specialty condiments, ethnic, regional, and gourmet, continue to drive growth in the condiments market.
Since the late 1980s, the categories experiencing the strongest value growth have been Mexican, Oriental, and hot sauces. This is due to shifting consumer focus for more number of specialty and premium condiments such as new marinades, dipping and grilling sauces. Going by this trend, it is estimated that Specialty condiments would become opportunity generator for players operating in this space. Another major trend being witnessed in the condiments sector is the growing usage of condiments to spice up bland healthy food. As health consciousness grows, many consumers are attempting to cultivate healthier eating habits, which often require them to forego foods or qualities in foods that they like best. Condiments are proving to be a blessing in disguise for health conscious eaters, who want to eat healthy and also want to spice up bland healthy food.
As stated by the new market research report on Condiments, Sauces, Dressings and Seasonings, Europe and Asia-Pacific constitute two of the largest and most influential markets worldwide. In terms of growth, Latin America is projected to take the lead, expanding at the overall fastest CAGR of 3.6% through 2017. The market is broadly categorized into Condiments and Salad Dressings. In terms of size, Sauces (Wet Condiments) product segment, part of the Condiments group comprising of ketchup, mustard, Italian Sauce, Mexican sauce and others, clearly dominates the market. However, in terms of most promising market potential, Seasonings (Dry Condiments) product segment, under the Condiments category, is forecast to grow at the highest compounded rate for the period 2009-2017.
Salad dressing flavors are becoming more intriguing, owing to the manufacturer’s strategy of cashing in on consumer’s whims and fancies. Regular or extra creamy, light or low fat, salad is being continuously reinvented and presented differently with the help of salad dressings. For instance, with the ascending Hispanic population in the US, traditional Latin American and Mexican inspired salad dressings are on the rise. Asian cuisine is also finding takers in America, with people going past Chinese cuisine to seek Thai, Japanese, Korean and Vietnamese food. While the overall market for dressings and sauces apparently did not experience any adverse recessionary impact, there was a stiff competition between private labels and established brands during the 2008-2009 period. Private label products, which are more economically priced, emerged as tough competitors for the costlier branded products. In order to save money during times of scarce finances, consumers switched preference to store led, private label brands.
Major market participants in the report include Ajinomoto Co., Inc., Ariake Japan Co., Ltd., Campbell Soup Company, Clorox Company, ConAgra Foods Inc., Del Monte Foods, Frito-Lay Inc., H.J. Heinz Company, Kikkoman Corporation, Kraft Foods Inc., Lee Kum Kee, McCormick & Company Inc., Nestle SA, Unilever, among others.
The research report titled “Condiments, Sauces, Dressings and Seasonings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market highlights, trends and issues, competitive landscape, product overview, recent industry activity, and profiles of market players worldwide. Analysis and overview is presented for major geographic markets, such as the US, Canada, Japan, Europe, Asia-Pacific, the Middle East, and Latin America, for the years 2009 through 2017. Market analytics are provided in terms of terms of Value (US$) for product groups/segments including Condiments (Sauces/Wet Condiments [Ketchup, Mustard, Mexican Sauce, Italian Sauce, Barbecue Sauce, Meat & Poultry Sauce, Oriental Sauce, Seafood Sauce, Hot Pepper Sauce, Chili Sauce, Dry Gravy & Sauce Mixes and Miscellaneous Sauces] and Seasonings/Dry Condiments [Seasonings Spices & Extracts, Salt and Pepper]), and Salad Dressings (Pourables, Dry Mix, Mayonnaise and Spoonables). The study also presents historic data for an insight into market evolution over the period 2003 through 2008.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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