Hot Sauce Market to be Worth USD 5.09 Billion by 2030; Mexican and Asian Cuisine Innovations and Rise in Consumption Will Drive Market Growth

The hot sauce market size was USD 2.89 billion in 2022. The market is projected to grow from USD 3.09 billion in 2023 to USD 5.09 billion by 2030, exhibiting a CAGR of 7.42% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Hot Sauce Market Size, Share & COVID-19 Impact Analysis, By Type (Tabasco Pepper Sauce, Habanero Pepper Sauce, Jalapeno Sauce, Sweet and Spicy Sauce, and Others), By Distribution Channel (Mass Merchandisers, Specialist Retailers, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2023-2030”.

The main element propelling the sales of sauces, spices, and condiments around the world is the growing globalization. Due to their distinctive umami qualities, savory foods are becoming much more and more popular among customers globally. Adding hot sauce to savory foods is becoming more and more common. They pair superbly with a variety of treats, including meat-based snacks, sweet & salty snacks, and others. Also, the market's participants are expanding their presence globally, which is anticipated to increase the hot sauce market share.

Limited Raw Material Supply Causes Slow Growth during COVID-19 Pandemic

Companies in various regions and supply chains were affected by the ongoing outbreak to varying degrees. Demand for the good increased in some countries as a result of customers being asked to quarantine at home, giving them greater freedom to experiment with new cooking options. One well-known manufacturer of spicy sauce, Truff in the U.S, claimed in an article that it had seen a rise in sales and had brought in almost USD 25 million in income in 2020, a 400% increase in sales from March. The advice to stockpile necessities and packaged food items also had a good impact on the global market. Nonetheless, the early few months saw a decline in the market for spicy sauce due to lack of personnel and raw ingredients.

Major Players Focus toward Acquiring Companies to Expand Business

In November 2022, Edible Garden AG Incorporated, a top supplier of agricultural products, purchased Pulp, a producer of hot sauce. Such an approach aided the business in increasing product availability and sales through recognized Edible Garden AG distributors and retail supermarkets in the U.S.

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https://www.fortunebusinessinsights.com/industry-reports/hot-sauce-market-100495

Product Sales to Be Boosted by Growing Demand for Healthy Appeasement

Hot sauces have experienced a significant development trajectory on the global market as a result of their escalating appeal and growing customer preference for distinctive and daring flavors. The diversity of young people's food preferences has emerged as a result of the growing young population and the promotion of globalization. These folks are heavily selling spices that are used to make flavors, such as hot, peppery, and others, which is driving up prices on the international market. Fast food consumption is increasing among the urban, busy population, which will drive up sauce sales, particularly in Asia Pacific's developing nations. Consumers all over the world are choosing wholesome appeasement that offers flavor and advantageous qualities such as better nutritional profiles, organized retail positioning, and non-GMO. Sales of the sauce in developed and developing markets are expected to increase significantly as a result of this trend and lead to the hot sauce market growth.

However, price volatility, particularly for raw ingredients such as tomatoes, pepper, chili, jalapenos, and others, is a significant barrier in the business. The fast global spread of the COVID-19 pandemic disrupted transportation, which had an effect on the cost of raw materials.

Competitive Landscape

For Businesses to be Competitive, they Must Develop Novel Product Variants

With a few important international competitors, the market is only fairly fragmented. The scope of the global market is expected to increase due to the entry of new companies and the launch of numerous cutting-edge products in the future years. Globally, active businesses are launching new products and forming alliances with pertinent parties to advertise their offerings and diversify their product lines. To draw in new customers and increase market penetration, several businesses also provide free product samples.

Notable Industry Development:

• May 2020 –U.K.-based Surya Foods, one of the leading culinary sauce companies, announced the launch of a new hot sauce brand named Thai Dragon. The products are easily available at competitive prices.

List of Key Players Profiled in the Report

• The Kraft Heinz Company (U.S.)


• McCormick & Company Inc. (U.S.)


• Campbell Soup Company (U.S.)


• Unilever PLC. (U.K.)


• Conagra Brands Inc. (U.S.)


• McIlhenny Company (U.S.)


• Southeastern Mills, Inc. (U.S.)


• Hormel Foods Corporation (U.S.)


• Baumer Foods, Inc. (U.S.)


• T.W. Garner Food Company (U.S.)

Further Report Findings

• The market for spicy sauce in North America was worth USD 1.28 billion in 2022. The region's dominance in this sector is due to the substantial purchasing power of its residents. The growing diversity of culinary flavors also gives chilli sauce a chance to replace its existing status as a distinct ethnic cuisine in the American diet.


• Asia Pacific held the second-largest market share in terms of sales in 2022. Many chilli sauces are seeing an increase in sales as a result of the population's slow growth in major Asian nations such as China and India as well as the development of the foodservice sector there.


• Due to less fast food purchases and a greater desire for regional condiments and sauces, the Middle East & Africa region is predicted to develop at a fairly sluggish rate.


• The Latin American sauce industry is quickly gaining popularity as the product is used as a key component in the creation of commonly consumed meat-based snacks, vegetables, and stews, as well as a complement for foods such as sandwiches, pizza, salads, grilled or fried seafood, and others.

Table of Segmentation