By IMARC Group the global hot sauce market reached a value of US$ 4.5 Billion in 2020 and expects the market to grow at a CAGR of around 5% during 2021-2026.

SHERIDAN, WYOMING, UNITED STATES, August 30, 2021 /EINPresswire.com/ -- Market Overview:

According to the latest report by IMARC Group, titled “Hot Sauce Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026,” the global hot sauce market reached a value of US$ 4.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Hot sauce or chili sauce is prepared using chili peppers mixed with other ingredients like salt, vinegar, vegetables, fruits, garlic, etc. It is commercially made by combining chili pepper paste with red tomato puree, which is then cooked to achieve a distinct flavor. Hot sauce adds a complementary or spicy flavor to a variety of dishes. As a result, it is used as a condiment, dressing, and seasoning ingredient in numerous cuisines worldwide.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Hot Sauce Market Trends:

The increasing popularity of Pan Asian, African, and Latin American cuisines across the globe is one of the key factors for the global hot sauce market growth. Moreover, the introduction of new and innovative sauce flavors that are also beneficial to health is further augmenting the demand for different hot sauce variants worldwide. In addition to this, the growing consumption of processed and frozen foods, particularly among the working population, has also led to an increased usage of hot sauce, thereby creating a positive impact on the market. Additionally, the expanding urban population, wide product availability in flexible packaging materials, and introduction of organic product variants, are some of the other factors catalyzing the growth of the global hot sauce market.

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Key Market Segmentation:

Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• McIlhenny Company
• McCormick & Company, Inc.
• Huy Fong Foods, Inc.
• Baumer Foods Inc.
• TW Garner Food Company
• B&G Foods, Inc.
• The Kraft Heinz Company
• SALSA TAMAZULA SA DE CV.
• Bruce Foods

Breakup by Product Type:
• Mild Hot Sauce
• Medium Hot Sauce
• Very Hot Sauce

Breakup by Application:
• Cooking Sauce
• Table sauce

Breakup by End-Use:
• Commercial
• Household

Breakup by Packaging:
• Jars
• Bottles
• Others

Breakup by Distribution Channel:
• Supermarkets and Hypermarkets
• Traditional Grocery Retailers
• Online Stores
• Others

Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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