Chili Sauce Market by Types (Mild Chili Type, Medium Chili Type, and Very Chili Type), by Sales Channels (Supermarkets/Hypermarkets, Convenience Stores, Independent Retailers, Online Sales, and Others), and by Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The Global Chili Sauce Market was valued at USD 5.11 Billion in 2022 and is projected to reach USD 9.01 Billion by 2031 , expanding at a CAGR of 6.5% during the forecast period, from 2023 to 2031. The growth of the market is driven by the increasing consumption of spicy food and the rising popularity of international cuisines. Consumers’ taste is changing with the introduction of new flavors in the market.
Additionally, people are experimenting with new flavors and spicy sauces, which in turn, is driving the chili sauce market. The consumers want a variety of tastes thus; they demand new flavors that propel business growth. Furthermore, chili sauce is an affordable and easy method to experiment with food and such factors boost the overall growth of chili sauce market.
Market Introduction
Chili sauce is a concentrated or liquefied product that can be poured from a bottle/container. It can be either mixture or homogeneous. It can be used as a condiment or seasoning. The product must be made from a decent quality and hygienic ingredients that are processed and mixed properly to achieve the preferred quality. The product is subjected to a suitable procedure by heat beforehand or after filling in a hermetically closed bottle and container, to avert decomposition.
Chili peppers are assumed to be amongst the most primitive plants cultivated by humans. Their usage can be traced back to the foundation of civilization. Archeological lodgings have found confirmation of chili peppers' existence and consumed as far-off as 7,000 BC. In numerous eras at the earliest, chili peppers were stored domestically.
Market Dynamics
Factors influencing consumer behavior
Numerous aspects are responsible for influencing consumer behavior such as taste, brands, assorted flavors, lifestyle, age, social factors, cultural trends, societal environment, and psychological factors. Above-mentioned factors influence consumer, which in turn, affects business growth. Moreover, some studies have shown consumer feedback disliking a particular product due to identical products in the market.
Consumers prefer differentiated product offerings and this selection demonstrates their requirements, lifestyle, and personalities. Thus, companies analyze consumer behavior to provide appropriate products and utilize these pointers in marketing to attract more customers.
Increasing demand for chili sauce
Demand for chili sauce is growing significantly. The growth can be attributed to the escalating popularity of Latin American and Pan Asian cuisine. Along with these other factors such as affordability and variety of tastes further boosts the market growth. Introduction of inventive sauce savors with health advantageous qualities has augmented demand for chili sauce.
Accelerating consumption of frozen and fast foods
Accelerating consumption of frozen and fast foods boosts demand for the chili sauce market. The consumption is extensively seen in cities and emerging nations. Additionally, the growing urban population coupled with modernization of logistics and storage facilities are factors that will have a positive impact on the chili sauce market over the forecast period. Cultural interactions and the rising number of emigrants in nations are certain aspects that will propel market growth.
Segmental Outlook
On the basis of types, the Global Chili Sauce Market is segmented as mild chili type, medium chili type, and very chili type. The mild chili type segment is anticipated to expand at a CAGR of around X% during the forecast period, as it is used to add medium-level spice in food which is highly preferred by a large pool of consumers. The very chili type segment is estimated to hold around 1/3rd of the market share in 2020 and is expected to grow significantly during the forecast period. Growth of the segment can be attributed to the increasing popularity of Chinese and Mexican cuisine which needs chili sauce to bring out the spice in the food dish.
Based on Sales Channels, the market is divided into supermarkets/hypermarkets, convenience stores, independent retailers, online sales, and others. The supermarkets/hypermarkets segment accounts for a major share of the market. The preference for choosing supermarkets/hypermarkets for the purchase of groceries is considerable across consumers and this factor is ultimately propelling the sale of chili sauces at these places.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region is dominating the market by holding substantial market share and is expected to retain its position throughout the forecast period. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period driven by rising disposable income and availability of international brands through e-commerce.
Moreover, the boom in sales of food products during the pandemic in 2020 is anticipated to create lucrative opportunities during the forecast period. The developed region including Europe and North America are expected to grow significantly during the forecast period due to increasing usage of chili sauce to prepare spicy meals. Also, the high consumption of snack items is boosting demand for various sauces such as chili sauce in these regions.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global Chili Sauce market
- Historical, current, and projected market size in terms of Value and Volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- A neutral perspective on global Chili Sauce market performance
Video Summary for Chili Sauce Market :
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Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Chili Sauce Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Chili Sauce Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Chili Sauce Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Chili Sauce Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Chili Sauce Market Size & Forecast, 2017-2027
4.5.1 Chili Sauce Market Size (USD Million) and Y-o-Y Growth
4.5.1 Chili Sauce Market Volume (Tons) and Y-o-Y Growth
4.5.2 Chili Sauce Market Absolute $ Opportunity
4.6 Pricing Analysis & Forecast, Sauce Type, 2017-2027
Chapter 5 Global Chili Sauce Market Analysis and Forecast Sauce Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities Sauce Type
5.1.2 Basis Point Share (BPS) Analysis Sauce Type
5.1.3 Absolute $ Opportunity Assessment Sauce Type
5.2 Chili Sauce Market Size & Volume Forecast Sauce Type
5.2.1 Mild Chilli Type
5.2.2 Medium Chili Type
5.2.3 Very Chilli Type
5.3 Market Attractiveness Analysis Sauce Type
Chapter 6 Global Chili Sauce Market Analysis and Forecast Distribution Channel
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities Distribution Channel
6.1.2 Basis Point Share (BPS) Analysis Distribution Channel
6.1.3 Absolute $ Opportunity Assessment Distribution Channel
6.2 Chili Sauce Market Size & Volume Forecast Distribution Channel
6.2.1 Supermarkets/Hypermarkets
6.2.2 Convenience Stores
6.2.3 Independent Retailers
6.2.4 Online Sales
6.2.5 Others
6.3 Market Attractiveness Analysis Distribution Channel
Chapter 7 Global Chili Sauce Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Chili Sauce Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Chili Sauce Analysis and Forecast
9.1 Introduction
9.2 North America Chili Sauce Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Chili Sauce Market Size & Volume Forecast Sauce Type
9.6.1 Mild Chilli Type
9.6.2 Medium Chili Type
9.6.3 Very Chilli Type
9.7 Basis Point Share (BPS) Analysis Sauce Type
9.8 Absolute $ Opportunity Assessment Sauce Type
9.9 Market Attractiveness Analysis Sauce Type
9.10 North America Chili Sauce Market Size & Volume Forecast Distribution Channel
9.10.1 Supermarkets/Hypermarkets
9.10.2 Convenience Stores
9.10.3 Independent Retailers
9.10.4 Online Sales
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis Distribution Channel
9.12 Absolute $ Opportunity Assessment Distribution Channel
9.13 Market Attractiveness Analysis Distribution Channel
Chapter 10 Europe Chili Sauce Analysis and Forecast
10.1 Introduction
10.2 Europe Chili Sauce Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Chili Sauce Market Size & Volume Forecast Sauce Type
10.6.1 Mild Chilli Type
10.6.2 Medium Chili Type
10.6.3 Very Chilli Type
10.7 Basis Point Share (BPS) Analysis Sauce Type
10.8 Absolute $ Opportunity Assessment Sauce Type
10.9 Market Attractiveness Analysis Sauce Type
10.10 Europe Chili Sauce Market Size & Volume Forecast Distribution Channel
10.10.1 Supermarkets/Hypermarkets
10.10.2 Convenience Stores
10.10.3 Independent Retailers
10.10.4 Online Sales
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis Distribution Channel
10.12 Absolute $ Opportunity Assessment Distribution Channel
10.13 Market Attractiveness Analysis Distribution Channel
Chapter 11 Asia Pacific Chili Sauce Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Chili Sauce Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Chili Sauce Market Size & Volume Forecast Sauce Type
11.6.1 Mild Chilli Type
11.6.2 Medium Chili Type
11.6.3 Very Chilli Type
11.7 Basis Point Share (BPS) Analysis Sauce Type
11.8 Absolute $ Opportunity Assessment Sauce Type
11.9 Market Attractiveness Analysis Sauce Type
11.10 Asia Pacific Chili Sauce Market Size & Volume Forecast Distribution Channel
11.10.1 Supermarkets/Hypermarkets
11.10.2 Convenience Stores
11.10.3 Independent Retailers
11.10.4 Online Sales
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis Distribution Channel
11.12 Absolute $ Opportunity Assessment Distribution Channel
11.13 Market Attractiveness Analysis Distribution Channel
Chapter 12 Latin America Chili Sauce Analysis and Forecast
12.1 Introduction
12.2 Latin America Chili Sauce Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Chili Sauce Market Size & Volume Forecast Sauce Type
12.6.1 Mild Chilli Type
12.6.2 Medium Chili Type
12.6.3 Very Chilli Type
12.7 Basis Point Share (BPS) Analysis Sauce Type
12.8 Absolute $ Opportunity Assessment Sauce Type
12.9 Market Attractiveness Analysis Sauce Type
12.10 Latin America Chili Sauce Market Size & Volume Forecast Distribution Channel
12.10.1 Supermarkets/Hypermarkets
12.10.2 Convenience Stores
12.10.3 Independent Retailers
12.10.4 Online Sales
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis Distribution Channel
12.12 Absolute $ Opportunity Assessment Distribution Channel
12.13 Market Attractiveness Analysis Distribution Channel
Chapter 13 Middle East & Africa (MEA) Chili Sauce Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Chili Sauce Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Chili Sauce Market Size & Volume Forecast Sauce Type
13.6.1 Mild Chilli Type
13.6.2 Medium Chili Type
13.6.3 Very Chilli Type
13.7 Basis Point Share (BPS) Analysis Sauce Type
13.8 Absolute $ Opportunity Assessment Sauce Type
13.9 Market Attractiveness Analysis Sauce Type
13.10 Middle East & Africa (MEA) Chili Sauce Market Size & Volume Forecast Distribution Channel
13.10.1 Supermarkets/Hypermarkets
13.10.2 Convenience Stores
13.10.3 Independent Retailers
13.10.4 Online Sales
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis Distribution Channel
13.12 Absolute $ Opportunity Assessment Distribution Channel
13.13 Market Attractiveness Analysis Distribution Channel
Chapter 14 Competition Landscape
14.1 Chili Sauce Market: Competitive Dashboard
14.2 Global Chili Sauce Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 LA COSTENA
14.3.2 Sriracha
14.3.3 Franks Redchilli
14.3.4 Cholula
14.3.5 ABC Extra Pedas
14.3.6 Real Thai
14.3.7 AROY-D
14.3.8 SHING KEE
14.3.9 Tabasco
14.3.10 LaoGanMa