Monday, October 19, 2015

Shift in Customer Preference Drives the Sauces, Dressings and Condiments Market

Not all flavorings or additives can be made equal! The mayo, ketchup or condiments that one adds to their dish can also health benefits. Observing a firm growth since 2014 and has benefitted from budget conscious buyers who rely on home cooked food following the economic upheaval in the past. The rapid growth in the ethnically diverse population has created a demand for spicy and ethnic tastes.  Opportunity for new authentic and culturally rich flavors have attracted several local and international manufacturers into the business.  Sales of premium additives is also anticipated to increase as customer buying preferences for high –quality flavorings and traditionally or non-mechanized way to food preparation rises.

Furthermore, growing concerns over health and well –being have also forced customers to consider organic products. It remains as a major driver in new product development for dressings and condiments. Additives prepared from organic fruits or vegetables today occupy a major market share worldwide. Availability of products low on allergen have also won over several customers. Pressure to reduce salt or sodium content in the dressings, sauces etc. has hit the industry hard. In addition, buyers want to eat healthy but not give up on the taste are posing challenges for the industry.

Increased disposable income and changing lifestyle have created a demand for convenience and sauces, dressings and condiments market are not left untouched by the transformation. Thus many products available for retailing have mixed herbs. Many private labels occupy a key market share and are experiencing an increased consumption volume of sauces, dressings and condiments. Some of the popular products include cooking sauces, dips, table sauces, pastes and purees and pickled products.

Eyeing the growing demand for flavorings Big Market Research has added a report titled “Global Sauces, Dressings and Condiments Market: Insights, Market Size, Share, Growth, Trends Analysis and Forecast to 2021.” As per the study the market is anticipated to register to a CAGR of 4% during the forecast period 2014 – 2021. Research analysts preparing the report discloses that the industry was valued at 18.93 billion in 2014. Statistics in the study outlines that while Europe occupied 34.5 percent of the total sauces, dressings and condiments market North America occupied a good 32.5 percent in 2014. Some of the many brands discussed in the report includes Mars Inc., Kraft Food Inc., Nestle SA, Heinz Co HJ, Unilever Plc. and McDonalds Corporation. Finally, all critical aspects of the business are thoroughly studies to reveal the market status worldwide. 

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