Growing Expansion Of The E-Commerce Sector, And Shift In Consumer Consumption Habits Are Expected To Augment The Barbecue Sauce Market At A Healthy CAGR Of 5.20% During The Forecast Period Of 2020 To 2027
Research Reports
Dec 28, 2022
Barbecue Sauce Market Insights
According to market research future insights analysis, the global barbecue sauce market is expected to register a CAGR of 5.20% from 2020 to 2027 and hold a value of over USD 2.1 billion by 2027.
The two main factors contributing to the growth of the barbecue sauce market are the development and expansion of the e-commerce sector and the rise in the number of consumers who cook at home. The main drivers of this market’s expansion include rising personal disposable income, evolving tastes and preferences, and expanding availability of barbecue sauce through both online and offline distribution channels. Other elements affecting market growth include the availability of barbecue sauce in low-fat variants and the rising desire for food products made from natural ingredients, including condiments. Rising demand for beef, pork, chicken, and other meat products will also significantly boost the growth rate of the barbecue sauce market.
Regional Analysis
North America dominated the market for barbecue sauce in 2021. The consumer’s readiness to explore new seasonings and flavors to enhance the BBQ taste, demonstrating a strong interest in ethnic tastes, should be credited for the significant rise in the U.S. and Canada. The use of flavor enhancers is expanding in the food industry, resulting in a growing demand for barbecue sauces. The market is anticipated to grow favorably over the upcoming years.
Asia Pacific is expected to register lucrative growth in the market for barbecue sauce. This is brought on by consumers’ shifting eating habits and the rising adoption of new and diverse cuisines. The BBQ sauce business in developing nations is very promising. This results from the acceptance of dishes and cuisines from various cultures. The increase in disposable income encourages them to try out new cuisines.
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Market Segmentation
The global barbecue-sauce market has been segmented into form, taste type and applications.
Based on form, the barbeque sauce market is segmented into liquid and paste. The paste segment accounted for the largest share of the market in 2021. Sauces are a thick paste that can be used as a dipping sauce or in stir-fries. Perfect for breaded and fried dishes, this market is anticipated to increase significantly throughout the projection period. On the other hand, the liquid segment is anticipated to be the fastest-growing segment during the forecast period. Liquid-form sauces are a creamy, liquid consistency used in food preparation. These sauces provide flavors and moisture to culinary preparations while enhancing their visual appeal.
Based on taste type, the barbeque sauce market is segmented into sweet, spicy, and sour. The spicy segment accounted for the largest revenue share in 2021 in the barbecue-sauce market. The dish then becomes more evenly spiced, giving the impression of a spicier meal. The demand for and acceptance of spicy cuisine is expected to increase during the forecast period, which would support the cooking sauce market. Besides, the sour segment is estimated to dominate the market during the forecast period. Due to consumers’ rising need for convenience meals, sour sauces are becoming increasingly popular worldwide.
Based on applications, the market has been segmented into commercial and household. The household segment accounted for the largest revenue share. The increase is attributable to individuals becoming more aware of the existence of such products. As a result, the sauce is now a common ingredient in kitchens worldwide. Additionally, cultural interactions brought about by globalization are exposing people to a wider variety of foods. Besides, the commercial segment registered lucrative growth in the market in 2021. The demand for international cuisines is further boosted by the growing multicultural population and consumer desire to experience new meals and flavors.
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Key Players
Some of the key market players are BONE DOCTORS’ BARBEQUE SAUCE., Renfro Foods., JB’s Best, The Gourmet Warehouse, PAUL’S GOURMET BRANDS, LLC, Roland Foods, LLC., Daddy Sam’s, Stonewall Kitchen., SBFK, INC, WILDLY DELICIOUS FINE FOODS.
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