Global Sauces And Dips Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Sauces (Soy Sauce, Chili Sauce, Tomato Sauce, White Sauce, Cooking Sauces, Others), Dips), By Distribution Channel (Online, Offline (Hypermarkets/Supermarkets, Convenience Stores, Grocery Stores, Others)), By End-User (Household, Commercial), And By Geography- Forecasts From 2021 To 2026

  • Published : Feb 2022
  • Report Code : KSI061613606
  • Pages : 195

The global sauces and dips market is projected to soar at a CAGR of 6.89% from a market size of US$138.195 billion in 2019 to a market size of US$220.279 billion by the end of 2026. 

The sauces and dips market is estimated to propel in the forecast period due to the escalating use of sauces, dips, dressings, and condiments on a large scale. In addition, these are integral to the global food culture. The traditional way of lifestyle included the use of homemade sauces and dips made from fresh and natural herbs as ingredients. The switch from the traditional way of living to the adoption of a modern lifestyle gave rise to the acceptance of processed and packed sauces and dips, fueling the market demand with this increment in the endorsement of convenience foods. The burgeoning multi-cuisine culture around the globe is further augmenting the market demand in the forecast period. The growing demand for natural and organic sauces and dips is gaining popularity with the emerging demand from customers worldwide for organic ingredients along with the growing health awareness, further providing an opportunity for the market to proliferate in the forecast period. Additionally, with the growing health awareness, people are moving towards the adoption of fresh and natural sauces and dips, hence, small startups are coming up offering innovative sauces and dips products stating “from grandmother’s kitchen” through an online or offline mode of sales channel, fueling the growth of the global sauces and dips market in the forecast period.

The retail sales expansion globally is promoting the sales of different sauces and dips, further propagating the market growth in the forecast period.

Offline Retail holds the highest share in terms of distribution channel

Rapid urbanization, increasing disposable income, and growing internet penetration are blooming the online and offline modes of purchase for innovative sauces and dips at the international level. However, offline retail sales hold dominance at present compared to the online mode of purchase which includes hypermarkets, supermarkets, and shopping malls, where consumers find it quite convenient to find all their sauces and dip commodities under one roof.  Slowly, with the advent of urbanization and a busy lifestyle, the younger generation/millennials, especially in the developing economies of the world are gaining expertise in the online mode of purchasing behavior, hence this will contribute to fueling the market growth through online sales channels as well. That coupled with the advent of the COVID-19 pandemic has forced consumers to stay home and stock their kitchens with these convenience foods through e-commerce platforms.

sauces and dips market

The growing population of working women

Furthermore, the growing population of working women, now important earning members of the family, prefer to choose their convenience and well-being in addition to the well-being of their children and other family members. Thus, these women prefer to spend more on premium food products, and also love to try new cuisines contributing to the promotion of the sales of global sauces and dips.

Online presence of retailers

Additionally, most retailers are moving on to the creation of their online mode of sales as well as offline sales of consumer goods keeping in mind the guidelines issued by the governments across the nations to contain the spread of the virus. This is further providing an opportunity for the market to thrive in the forecast period.

The growing e-commerce industry, a consequence of the emergence of the pandemic, is also expected to strengthen market growth over the coming years.

The growing multi-cuisine culture is driving the market growth during the forecast period.

Impact of COVID-19 Pandemic on the Sauces and Dips Market

The advent of the COVID-19 pandemic has had a positive impact on the growth of the sauces and dips market. Consumers, due to the lockdowns imposed in several countries, changed their buying behaviors. They started using online retail platforms a lot more than before to follow the social distancing protocols. Additionally, consumers started a frenzy in buying processed food products to stock their households given the unpredictability of the situation. Work from home and online education further prompted people to cook delicacies at home increasing the demand for sauces and dips, both among the people who wanted to try different cuisines and the ones who were forced to cook for themselves but were not well equipped with those skills.

The restaurants and food services across countries were shut down as per the government guidelines. Also, the supply chains were disrupted. However, despite the low commercial demand, the household demand by the consumers led to the growth of the market. People preferred both the offline and online modes of buying but the latter is expected to grow at a higher rate than the former.

The presence of companies offering a variety of sauces and dips products are fueling the growth of the global sauces and dips market in the forecast period.

Veeba Foods is among the leading companies in India dealing in innovative sauces and condiments. Their focus lies in quality, innovation, and “Better for You” products to provide the best to their customers. The company offers its customers the freshest and most authentic flavors and a major focus is put on the procurement of the finest and most authentic ingredients around the globe and then these are manufactured in a world-class ISO 22000 certified manufacturing facility.

The company’s retail products include mayonnaise, Italian sauces, sauces, dips, mustard, peanut butter, and ketchup. The company also provides online food services, the major clients include Dominos Pizza, Burger King, Social, Café Coffee Day, Dunkin Donuts, Johnny Rockets, Costa, Taco Bell, Theobroma, Fatburger, Chaayos, PVR Cinemas, mocha, hog dog, Cinepolis, PitaPit, Chai point, and Taj Hotels Palaces Resorts Safaris.

In August 2020, Veeba Foods launched a range of Ready-to-cook, restaurant-style go alongside gravies and curries consisting of 10 unique flavors.

Regional insights

Based on geography, Europe holds the highest market share in the global market, followed by the Asia Pacific. South America is expected to grow at the highest CAGR owing to the rapid industrialization, increasing western influence, and development of e-commerce platforms. In the emerging economies, the escalating social media presence and growing population of working women are playing a key role in the growth of the sauces and dips market. Additionally, the increasing reach and penetration of multinational processed foods companies like Kraft and Heinz, Conagra Brands, and Nestle are contributing further to the rising market size of the sauces and dips market.

Sauces and Dips Market Scope:

Report Metric Details
 Market size value in 2019  US$138.195 billion
 Market size value in 2026  US$220.279 billion
 Growth Rate  CAGR of 6.89% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  Type, Distribution Channel, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Veeba Food Services Private Ltd, Conagra Brands, Inc., Frito-Lay North America, Inc.   a Divison of PepsiCo, General Mills Inc., Nestlé India Limited, The Kraft Heinz   Company, Hormel Foods Corporation, Mars, Incorporated and its Affiliates, Campbell   Soup Company, The Flavour Base Sauce Company
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Sauces
      • Soy Sauce
      • Chili Sauce
      • Tomato Sauce
      • White Sauce
      • Cooking Sauces
      • Others
    • Dips
  • By Distribution Channel
    • Online
    • Offline
      • Hypermarkets/Supermarkets
      • Convenience Stores
      • Grocery Stores
      • Others
  • By End-User
    • Household
    • Commercial
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the sauces and dips market size by 2026?
A1. The sauces and dips market is projected to reach a market size of US$220.279 billion by 2026.


Q2. What is the size of the global sauces and dips market?
A2. Sauces And Dips Market was valued at US$138.195 billion in 2019.


Q3. What are the growth prospects for the sauces and dips market?
A3. The global sauces and dips market is projected to grow at a CAGR of 6.89% during the forecast period.


Q4. What factors are anticipated to drive the sauces and dips market growth?
A4. The sauces and dips market is estimated to propel in the forecast period due to the escalating use of sauces, dips, dressings, and condiments on a large scale.


Q5. Which region holds the largest market share in the sauces and dips market?
A5. Europe is projected to hold a significant share in the global sauces and dips market.


1. INTRODUCTION

1.1. Market Overview

1.2. Covid-19 Scenario

1.3. Market Definition

1.4. Scope

1.5. Currency

1.6. Segmentation

1.7. Assumptions

1.8. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Secondary Sources

2.3. Validation

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Drivers

4.1.1. Booming HORECQ Industry

4.1.2. Rising Consumption of Convenience Food

4.2. Restraints

4.2.1. Plastic Packaging and Environmental Concerns

4.3. Opportunities

4.3.1. Emerging Demand for Organic Sauces and Dips

4.4. Porter’s Five Forces Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

4.6. Business Environment Model

5. GLOBAL SAUCES AND DIPS MARKET BY TYPE

5.1. Introduction

5.2. Sauces

5.2.1. Soy Sauce

5.2.2. Chili Sauce

5.2.3. Tomato Sauce

5.2.4. White Sauce

5.2.5. Cooking Sauces

5.2.6. Others

5.3. Dips

6. GLOBAL SAUCES AND DIPS MARKET BY DISTRIBUTION CHANNEL

6.1. Introduction

6.2. Online

6.3. Offline

6.3.1. Hypermarkets/Supermarkets

6.3.2. Convenience Stores

6.3.3. Grocery Stores

6.3.4. Others

7. GLOBAL SAUCES AND DIPS MARKET BY END-USER

7.1. Introduction

7.2. Household

7.3. Commercial

8. GLOBAL SAUCES AND DIPS MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Distribution Channel

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.2. Mexico

8.3. South America

8.3.1. By Type

8.3.2. By Distribution Channel

8.3.3. By End User

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Type

8.4.2. By Distribution Channel

8.4.3. By End User

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.2. Germany

8.4.4.3. France

8.4.4.4. Others

8.5. Middle East And Africa

8.5.1. By Type

8.5.2. By Distribution Channel

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. United Arab Emirates (UAE)

8.5.4.2. Israel

8.5.4.3. Saudi Arabia

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Distribution Channel

8.6.3. By End User

8.6.4. By Country

8.6.4.1. Japan

8.6.4.2. China

8.6.4.3. India

8.6.4.4. Australia

8.6.4.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Veeba Foods

10.1.1. Overview

10.1.2. Products and Services

10.1.3. Key Developments

10.2. Conagra Brands, Inc.

10.2.1. Overview

10.2.2. Products and Services

10.2.3. Financials

10.2.4. Key Developments

10.3. Frito-Lay North America, Inc., A Division Of PepsiCo

10.3.1. Overview

10.3.2. Products and Services

10.3.3. Key Developments

10.4. General Mills, Inc.

10.4.1. Overview

10.4.2. Products and Services

10.4.3. Financials

10.4.4. Key Developments

10.5. Nestlé

10.5.1. Overview

10.5.2. Products and Services

10.5.3. Financials

10.5.4. Key Developments

10.6. The Kraft and Heinz Company

10.6.1. Overview

10.6.2. Products and Services

10.6.3. Financials

10.6.4. Key Developments

10.7. Hormel Foods Corporation

10.7.1. Overview

10.7.2. Products and Services

10.7.3. Financials

10.7.4. Key Developments

10.8. Mars, Incorporated and Its Affiliates

10.8.1. Overview

10.8.2. Products and Services

10.8.3. Key Developments

10.9. Campbell Soup Company

10.9.1. Overview

10.9.2. Products and Services

10.9.3. Financials

10.9.4. Key Developments

10.10. The Flavour Base Sauce Company

    10.10.1. Overview

10.11. Kikkoman Corporation

10.11.1. Overview

10.11.2. Products and Services

10.11.3. Financials

10.11.4. Key Developments

LIST OF TABLES

LIST OF FIGURES


Veeba Food Services Private Ltd

Conagra Brands, Inc.

Frito-Lay North America, Inc. a Divison of PepsiCo

General Mills Inc.

Nestlé India Limited

The Kraft Heinz Company

Hormel Foods Corporation

Mars, Incorporated and its Affiliates

Campbell Soup Company

The Flavour Base Sauce Company