Global Sauces, Dressings, and Condiments Market Key Players are Launching New Products to Gain a Larger Market Share

Sauces, dressings, and condiments market is forecasted to reach $143,875.0 million by 2023. The growth in the market will be led by the rise in demand for healthy sauce options, growing popularity of international cuisines, and rising disposable income of consumers across the globe.

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On the basis of distribution channel, the sauces, dressings, and condiments market has been categorized into supermarkets/hypermarkets, specialist retailers, convenience stores, and others. ‘Others’ include mixed retailers, and internet retailers, and non-grocery specialists such as health and beauty retailers.

At country-level, the U.S. held the largest revenue share in the global sauces, dressings, and condiments market, crossing 20% in 2017. The market in the country is expected to progress at CAGRs of 2.2% and 3.7%, in terms of volume and value respectively, during the forecast period. The market growth in the U.S. can be mainly attributed to the rise in disposable income and the growing inclination of consumers toward organic, and new and international flavors.

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Key players in the sauces, dressings, and condiments industry are launching new products to gain a larger market share. For instance, in March 2018, Sir Kensington’s, now part of The Unilever Group, introduced four varieties of ranch dressings—avocado oil classic, Pizza Ranch, classic, and buffalo—at the Natural Products Expo West 2018. Similarly, In September 2017, Kikkoman Corporation introduced a low-salt form of soy sauce, featuring soy peptide, a kind of protein that helps control blood pressure, targeting the age group of 40-year-olds and above. The company initially sold the product online and through mail orders, and started selling it via supermarkets across Japan, from February 2018.

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