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The growth is owing to diverse cultures, heavy consumption of RTE food, high disposable incomes, and the presence of prominent players in the said market.

HYDERABAD, TELANGANA, INDIA, January 9, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Hot Sauce Market size is estimated to reach $3.9 billion by 2027, growing at a CAGR of 5.8% during the forecast period 2022-2027. Hot sauce is nothing more than a condiment prepared from hot chilies that has a variety of culinary applications and is used in diverse cuisines to confer a spicy and bold flavor. Vegetables, capsaicin extracts, chili pepper, vinegar, citrus juice, seasonings, and salt are the featuring ingredients of hot sauce. Many times, mustard oil is also taken into account to highlight the flavor or add additional heat. It is mainly categorized into very hot, medium hot, and mild hot; whereas, Aji, Cascabel, Cayenne, and Anaheim are the most persistently used peppers to formulate the same. The presence of chemical compounds like capsaicin in the hot sauce adds nutritional benefits as it is a sound source of carotenoids and nutrients like lutein, carotene, zinc, and vitamin C. Besides, the presence of antioxidants makes hot sauce extremely useful in treating acidity, high blood pressure, and premature aging complications. Moreover, proliferating usage in food preparation, enlarging fast and RTE food consumption among urban dwellers, culture exchanges, broadening disposable incomes, and augmenting predilection for spicy food among younger people are factors set to drive the growth of the Hot Sauce Market for the period 2022-2027.

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https://www.industryarc.com/Research/Global-Hot-Sauce-Market-Research-513229

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Key takeaways:

This IndustryARC report on the Hot Sauce Market highlights the following areas -

1. Geographically, the North America Hot Sauce Market accounted for the highest revenue share in 2021. The growth is owing to diverse cultures, heavy consumption of RTE food, high disposable incomes, and the presence of prominent players in the said market. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.

2. Enlarging longings for peppery food, spiraling foodservice industry, strengthening the retail network, and growing living standards of people in developing countries are said to be preeminent drivers driving the growth of the Hot Sauce Market. Whereas, strangled demand and supply and health hitches accompanied by excess consumption are said to reduce the market growth.

3. Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Hot Sauce Market report.

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https://www.industryarc.com/pdfdownload.php?id=513229

Segmental Analysis:

Hot Sauce Market Segment Analysis-By End-User : The Hot Sauce Market based on the end-user type can be further segmented into foodservice providers (restaurants, hotels, cafés, street vendors, and others) and households.

Hot Sauce Market Segment Analysis-By Distribution Channel : The Hot Sauce Market based on distribution channels can be further segmented into Offline (Supermarket/Hypermarkets, Convenience stores, brick-and-mortar) and online.

Hot Sauce Market Segment Analysis-By Geography : The Hot Sauce Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 41% of the overall market in 2021.

Competitive Landscape:

The top 5 players in the Hot Sauce Industry are -

1. Garner Foods
2. Kraft Heinz
3. McIlhenny Company
4. McCormick
5. B&G Foods

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Related Reports:

A. Europe Sauces, Dressings & Condiments Market
https://www.industryarc.com/Report/9563/europe-sauces-dressings-condiments-market.html

B. Packaged Japanese Traditional Foods Market
https://www.industryarc.com/Report/17962/packaged-japanese-traditional-food-beverages-market.html

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