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Review of Sauces, Dressings, and Condiments Market in Asia-Pacific 

  • September 2015
  • -
  • Frost & Sullivan
  • -
  • 18 pages

Summary

Table of Contents

Introduction

Market Overview

- The total revenue for the Asia-Pacific (APAC) sauces, dressings, and condiments market was $ billion in 2014; it is expected to reach $ billion in 2021 at a compound annual growth rate (CAGR) of %.
- Growing diverse population and rising disposable incomes are the key driving factors. Clear communication of health benefits is predicted to increase the growth of fortified and organic products.
- Younger generation is looking for combination of flavors from different region. In addition, there is a growing need for products that are close to the international flavors. - Consumers in Singapore, Australia, and New Zealand have a holistic health approach, leading to better acceptance of organic and sustainable sauces, dressings, and condiments.
- Unstable raw material prices, high logistics costs, strict regulations, and market maturity inhibit growth.

Key Industry Challenges

- Rising raw material price is the leading concern for manufacturers as this will significantly increase the total cost of production. This significantly deters consumers because manufacturers increase the price of the final product.
- APAC includes several countries that are dependent on imported goods for their agricultural processed foods. Increase in gas price and changes in the taxes impact the end product price as it also increases the total production cost for manufacturers.
- Unpredictable weather patterns and conventional agricultural methods result in irregular supply of fresh food produce that form the base of the sauces, dressings, and condiments market.
- Another critical challenge in the market is food contamination; therefore, the process of manufacturing to sales must be carefully monitored.

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ref:plp2015

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