Flavoring is an art that makes food not just palatable, but healthier and tastier. Condiment sauces impart texture, color, and aroma to food preparations, along with improving their calorific and nutritional value. Condiment sauces are also silent spokesmen of cultures and history. In recent times, the global condiment sauces market has picked up pace as foreign cuisines become more local due to globalization and growing prevalence of eating preferences that lean towards healthy diets. Condiment sauces are commonly used as table dips or for cooking. The market for condiment sauces is divided into regions such as Asia Pacific, Europe, North America, and Rest of the World.
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Asia Pacific to Witness Highest Growth Rate in Global Condiment Sauces Market
In the next five years, the global condiment sauces market is expected to show remarkable growth due to the changing eating habits of the global population. Amongst all the regions, Asia Pacific will witness the strongest growth, largely due to increasing demand for condiment sauces from countries such as China and Japan. Among other regions, in North America, Mexico, and the U.S. will lead the condiment sauces market; in Europe, countries such as Russia, France, Germany, and the UK will lead the growth of the condiment sauces market. The shift in food preferences with remain the main factor driving the demand from the global condiment sauces market.
Hectic Lifestyles to Encourage Proliferation of Global Condiment Sauces Market
The prevalence of busy lifestyles, defined by the lack of time and growing urbanization, is also an important growth driver for the global condiment sauces market. Furthermore, in the next six years, the increasing consumption of fast food is also expected to contribute to the growth of the global condiment sauces. Research analysts estimate that the global condiments sauce market, which was worth US$18.7 bn in 2013, is expected to be worth US$23.4 bn by 2020. The market is expected to grow at a steady CAGR of 3.21% from 2014 to 2020. This growth rate will be attributable to demand for soy sauces in Japan and China; mustard sauce in France; and tomato ketchup in Germany, Saudi Arabia, Brazil, and the U.S.
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Easy availability of condiment sauces in places such as variety stores and general merchandise retailers, food and drinks specialists, supermarkets or hypermarkets, dollar stores, department stores, and convenience stores is also encouraging customers to buy these products. This rise in the sale of condiment sauces through several distribution channels will be supported by the improving lifestyles in developed countries in the next six years. Furthermore, the spurt of distribution channels due to improving disposable incomes and rising standard of living will also play a significant role in fortifying the demand for condiment sauces across the world.