Global Condiments Sauces Market: Snapshot
Changing eating patterns of people due to busy lifestyles are allowing the condiments sauces market in Asia Pacific to gain significant momentum. The increasing preference of people towards fast food is translating into the greater uptake of condiment sauces. Moreover, people consume condiment sauces to enhance flavor in their food preparation or use them as table dips. The growth of the market is also supported by the increasing urbanization and rising disposable income of people. The introduction of a large variety of sauces to match the changing trends in fast foods is likely to shape the future of the market.
As per a report by Transparency Market Research (TMR), the Asia Pacific market for condiment sauces is anticipated to reach a valuation of US$8.62 bn by 2020, expanding at a CAGR of 5.85% between 2014 and 2020.
Consumption of Condiment Sauces to Remain High in China and Japan through 2020
In terms of country, the market is divided into China, Australia, India, Hong Kong, Japan, Indonesia, New Zealand, Malaysia, Singapore, the Philippines, and Thailand. China was the leading revenue contributor in 2014, closely trailed by Japan. The growth of the country can be attributed to the busy lifestyles of the populace and their increasing dependence on fast foods. The demand is likely to remain high in the coming years, owing to the popularity of condiment sauces among consumers for the preparation of authentic and traditional multi-cuisine food at home.
China and Japan will maintain their prominence in the global arena. However, the market in these countries is heading towards maturity. Emerging markets such as Indonesia, Australia, India, New Zealand, South Korea, and Hong Kong are estimated to witness growth in demand for condiment sauces. The rising disposable income is one of the primary factors contributing to the growth of these countries. In the forthcoming years, these countries are expected to emerge as key destinations for prominent players in Asia Pacific market.
Warehouse Clubs and Dollar Stores to Remain Most Prominent Distribution Channels through 2020
On the basis of type, the report segments the Asia Pacific market for condiment sauces into tomato ketchup, national specialty sauce, brown sauce, mustard sauce, hot and chili sauce, soy sauce, and other condiment sauce. The consumption pattern varies from country to country. For instance, the consumption of soy sauce is higher in countries such as South Korea, Japan, and China. While the demand for national condiments sauce is strong in New Zealand, the sales of tomato ketchup are high in countries such as Australia, Indonesia, Malaysia, Thailand, the Philippines, Singapore, India, and Hong Kong.
Based on distribution channel, the market is divided into food and drinks specialists, variety stores and general merchandise retailers, dollar stores, department stores, supermarkets and hypermarkets, and convenience stores. Among these, variety stores & general merchandise retailers, warehouse clubs, and dollar stores are the most preferred distribution channels and will retain their position until 2020. Food and drinks specialists and convenience stores are also estimated to account for substantial shares in the global market. The supermarkets and hypermarkets segment is anticipated to register significant growth rate during the forecast period, thanks to the improving lifestyles in developed nations.
List of Figures
FIG. 1 Asia Pacific Condiments Sauces Market, 2014 – 2020 (USD million)
FIG. 2 Asia Pacific Condiments Sauces Market, 2014 – 2020 (Kg million)
FIG. 3 Australian Condiments Sauces Market, value Vs volume, Market Size, 2014 – 2020 (USD Million, Kg million)
FIG. 4 Australia Brand Share, 2012 – 2014 (Value %)
FIG. 5 Australia Distribution Channel, 2012 – 2014 (Value %)
FIG. 6 China Sauce Market, value Vs volume, market size , 2014– 2020 (USD million-Kg million)
FIG. 7 China Brand Share 2012-2014 (Value %)
FIG. 8 China Distribution Channel 2012-2014 (Value%)
FIG. 9 Hong Kong Sauce Market, value Vs volume market size , 2014– 2020 (USD million-Kg million)
FIG. 10 Hong Kong Brand Share 2012-2014 (Value %)
FIG. 11 Hong Kong Distribution Channel 2012-2014 (Value %)
FIG. 12 India Sauce Market, value Vs volume, market size, 2014– 2020 (USD million-Kg million)
FIG. 13 India Brand Share 2012-2014 (Value %)
FIG. 14 India Distribution Channel 2012-2014 (Value %)
FIG. 15 Indonesia Sauce Market, value Vs volume, market size , 2014– 2020 (USD million-Kg million)
FIG. 16 Indonesia Brand Share 2012-2014 (Value %)
FIG. 17 Indonesia Distribution Channel 2012-2014 (Value %)
FIG. 18 Japan Sauce Market, value Vs volume, market size , 2014– 2020 (USD million-Kg million)
FIG. 19 Japan Brand Share 2012-2014 (Value %)
FIG. 20 Japan Distribution Channel 2012-2014 (Value %)
FIG. 21 Malaysia Sauce Market, value Vs volume market size , 2014– 2020 (USD million-Kg million)
FIG. 22 Malaysia Brand Share 2012-2014 (Value %)
FIG. 23 Malaysia Distribution Channel 2012-2014 (Value %)
FIG. 24 New Zealand Sauce Market, value Vs volume, market size, 2014– 2020 (USD million-Kg million)
FIG. 25 New Zealand Brand Share 2012-2014 (Value %)
FIG. 26 New Zealand Distribution Channel 2012-2014 (Value %)
FIG. 27 Philippines Sauce Market, value Vs volume, market size, 2014– 2020 (USD million-Kg million)
FIG. 28 Philippines Brand Share 2012-2014 (Value%)
FIG. 29 Philippines Distribution Channel 2012-2014 (Value%)
FIG. 30 Singapore Sauce Market, value Vs volume, market size , 2014– 2020 (USD million-Kg million)
FIG. 31 Singapore Brand Share 2012-2014 (Value %)
FIG. 32 Singapore Distribution Channel 2012-2014 (Value %)
FIG. 33 South Korea Sauce Market, value Vs volume, market size, 2014– 2020 (USD million-Kg million)
FIG. 34 South Korea Brand Share 2012-2014 (Value %)
FIG. 35 South Korea Distribution Channel 2012-2014 (Value %)
FIG. 36 Thailand Sauce Market, value Vs volume, market size , 2014– 2020 (USD million-Kg million)
FIG. 37 Thailand Brand Share 2012-2014 (Value %)
FIG. 38 Thailand Distribution Channel 2012-2014 (Value %)