Hot Sauce Fun Fact - Hot Sauce Market
Statistically speaking, Hot Sauce is pretty HOT
The global hot sauce market reached a value of US$ 4.5 Billion in 2020. The market is forecast to exhibit moderate growth during 2021-2026. Hot sauce or chili sauce is manufactured using chili peppers, vinegar and other ingredients. It is used as condiments, dressings and seasonings. Hence, it can be consumed along with cooked food or used as an ingredient in cooking to add complementary or contrasting flavors. It has become a significant part of the modern kitchen; however, the preparation styles and flavors are different across the globe.
The demand for hot sauce has been witnessing significant growth with increasing popularity of Pan Asian and Latin American cuisines across the globe. Introduction of innovative sauce flavors with health beneficial attributes have further augmented the demand for hot sauce. In addition, increasing consumption of fast and frozen foods among the busy city-dwellers, especially in the emerging countries, has also led to an increased usage of hot sauce, thereby creating a positive impact in the market.
Apart from that, increasing urban population, modernization of storage and logistics, rising number of expatriates in countries and cultural exchanges are some of the other factors that catalyze the growth of the hot sauce market.
The report has also examined the competitive landscape of the market. Some of the major players include McIlhenny Company, McCormick and Co., Huy Fong Food, Baumer Foods, Garner Foods, B&G Foods, Kraft Heinz, Salsa Tamazula, Bruce Foods, Schwartz, etc.