Red Sauce Market
Red Sauce Market
The red sauce market was valued at $3.1 billion in 2021, and is estimated to reach $5.6 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
WILMINGTON, DELAWARE, UNITED STATES, April 22, 2024 /EINPresswire.com/ -- Consumers prefer flavorful ingredients to enhance their food, resulting in the demand for red sauce across the globe. Moreover, consumers are increasingly opting for the red sauce in order to use it in multiple cuisines to alleviate the flavor of dishes. This is expected to boost the demand for innovative food ingredients, thereby contributing positively to the growth of the red sauce market.
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Red sauce is a tomato-based product that is thicker than tomato juice but not as thick as tomato puree. Generally, adding herbs, spices, onion, and garlic enhances the flavor of the dish. Most grocery stores sell red sauce in commercial cans. It is used in many different cuisines and as the foundation for other sauces. The texture and flavor intensity of tomato paste, tomato puree, and tomato sauce varies across the globe and boosts the red sauce market opportunity to generate revenue. The flavor is more intense when the consistency is thicker. The consistency of tomato sauce varies from thin to thick, with tomato paste being the thickest and due to its consistency the tomato sauce preferred across the globe. In addition, using red sauce in multiple cuisines is one of the growing red sauce market trends.
Despite the fact that tomatoes are typically safe to eat, some people may face side effects with the consumption. A few issues tomatoes might cause include acid reflux, intolerance-related effects, and muscle aches. In addition, lycopene is regarded as being safe, because it offers a number of advantages. Lycopene supplements, however, might not be suitable for use during pregnancy. Lycopene must be used cautiously for treating consumers with stomach ulcers and other gastrointestinal problems. The chemical also has the ability to reduce blood pressure.
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The red sauce industry is segmented on the basis of packaging type, nature, distribution channel, and region. By packaging type, the market is categorized into bottles, pouches, and others. By nature, the red sauce market is fragmented into conventional and organic. By distribution channel, the market is divided into direct sales and indirect sales. Moreover, the red sauce market is further classified into third-level segmentation through the distribution channel. By indirect sales, the market is divided into hypermarket/supermarket, convenience stores, e-commerce, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Switzerland and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, Argentina and Rest of LAMEA).
By packaging type, the bottle segment had the largest red sauce market share in 2021 with a CAGR of 6.0%. Glass bottles are preferred for red sauce due to their clarity, shine, and range of available patterns. One of the red sauce market trends across the globe is that glass bottles can be used multiple times for storing red sauce. Therefore, enhanced bottle packaging for multiple usage is expected to contribute to the red sauce market demand.
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By nature, the conventional segment was the highest revenue contributor in 2021 i.e., $2576.3 million in 2021, and is expected to reach $4580 million by 2031 at a CAGR of 6.0%. Additionally, this sector now has additional regional growth potential due to the expansion of the food and beverage industry. Nevertheless, despite the severe opposition the organic choice faces, the conventional option still dominates the market because of its reasonable costs and extensive availability. The aforementioned elements are expected to stimulate the conventional red sauce market growth over the course of the projected period.
By distribution channel, the indirect sales segment was the largest share in 2021 and are expected to have the largest market share in 2031. Rising urbanization, an increase in the number of people in the working class, and affordable costs all contribute to the popularity of indirect sales. These sales formats often have competitive pricing and are located in convenient locations where customers can buy products. As a result, customers may complete all of their shopping needs under one roof.
By region, North America held the largest share in 2021 i.e., $1012.9 million in 2021, and is expected to reach $1767.1 million by 2031 at a CAGR of 5.8%. According to the WorldAtlas, California produces 255,388 thousand centum weights (cwt) of tomatoes each year. As a result, it is recognized as one of the top tomato growers worldwide and the country's top tomato producing state. More specifically, California produces 95% of the tomatoes grown in the U.S. and around one-third of the tomatoes farmed globally. The North American region dominates the red sauce market as a result of all these factors.
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According to the red sauce market analysis, the major players operating in the global red sauce are Chilzo, General Mills, The Kraft Heinz Company, Victoria, Organicville, Newman’s Own, ConAgra Foods, Mezzetta Family Co., Campbell Soup Company, Barilla, Ragu, Goya Foods, Mutti, Rao’s Homemade and Cento Fine Foods.
Key findings of the study
The global red sauce market was valued at $ 3,107.2 million in 2021, and is projected to reach $ 5,574.6 million by 2031, registering a CAGR of 6.1 % from 2021 to 2031.
By packaging type, the bottles segment was the highest contributor to the red sauce market size, with $ 1,333.3 million in 2021, and is estimated to reach $ 2,369 million by 2031, at a CAGR of 6.0% during the forecast period.
By region, North America was the highest revenue contributor, accounting for $1,012.9 million in 2021, and is estimated to reach $1,767.1 million by 2031, with a CAGR of 5.8% in the red sauce market forecast year.
David Correa
Allied Market Research
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