The global sauces and dips market is projected to soar at a CAGR of 6.97% from a market size of USD138.195 billion in 2019 to a market size of USD207.049 billion by the end of 2025. The sauces and dips market is estimated to propel in the forecast period due to the prevalence of using 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 home-made sauces and dips utilizing fresh and natural herbs as ingredients. The switch from the traditional way of living to the adoption of modern lifestyle gave rise to the adoption of processed and packed sauces and dips, fueling the market demand with the rise in the adoption of convenience packed 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 are gaining popularity with the emerging demand from the 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.
On the basis of geography, Europe is projected to hold a significant market share in the global market, followed by North America and the Asia Pacific region.
The retail sales expansion globally is promoting the sales of different sauces and dips, further propagating the market growth in the forecast period. of the baby care products globally is driving the market demand during the forecast period.
Rapid urbanization, increasing disposable income, and growing internet penetration are booming the online and offline mode 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 dips 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 behaviour, hence this will contribute to fueling the market growth through online sales channels as well. Furthermore, with the growing population of working women, this group of population are now an important earning member of the family, hence, they prefer to choose their own 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, hence, contribute to the promotion of the sales of the global sauces and dips. In addition, most of the retailers are moving on to the creation of their online mode of sales as well along with the offline sales of consumer goods, further providing an opportunity for the market to thrive in the forecast period.
The growing e-commerce industry is further strengthening the market growth over the next five years.
The growing multi-cuisine culture is driving the market growth during the forecast period.
People worldwide travel to different countries and explore varieties of food and drinks indigenous to a particular place, hence, this is paving a way for the adoption of multi-cuisine culture. Food also plays a major part in many celebrations and gatherings around the globe; hence, this is further promoting the growth of sauces and dips that add flavour and spice to the delicious cuisines served. The growing craze for exploring different kinds of food is also providing an impetus in burgeoning the market growth in the forecast period. The adventurers and explorers travel all over the world and taste some of the exotic cuisines, also many like to bring them and share with their people when back home. In this way these cuisines gain importance in other parts of the world as well, further contributing to the usage of different kinds of sauces and dips as an ingredient in cooking or are used as an accompaniment to snacks, appetizers, or main course meals, these are also utilized in the form of food dressings.
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 is among the leading companies in India dealing in innovative sauces and condiments. Their focus lies in quality, innovation, and “Better for You” products in order to provide the best to their customers. The company offers its customers the freshest and authentic flavours and the major focus is put on the procurement of the finest and authentic ingredients round 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, Chaipoint, and Taj Hotels Palaces Resorts Safaris.
Harrisons Sauces, based in the United Kingdom is a global supplier of sweet and savoury sauces and seasoning to a wide range of end-use sectors including retail, industrial, manufacturing, and hospitality. For 40 years the company boasts of being a global supplier of catering services to the airline and travel industry. The company operates from its advanced facility in Loughborough, in the United Kingdom. The sauces and dips product offerings consist of barbeque sauce, barbeque sauce dip, brown sauce, burger relish, burger sauce, chili sauce, chili sauce dip, English mustard mini jar, garlic and herb bottle, garlic & herb dip, garlic mayonnaise bottle, honey & mustard dressing dip, mango chutney dip, maple syrup dip, mild mustard, and many more innovative products in different packaging formats.