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Europe Hot Sauce Market to Grow at a CAGR of 3.60% During 2022-2027, Aided by Growing Innovations by the Leading Market Players

According to a new report by EMR titled, ‘Europe Hot Sauce Market Report and Forecast 2022-2027’, the market attained a value of around USD 790 million in 2021. The industry is further expected to grow at a CAGR of 3.60% in the forecast period of 2022-2027 to reach a value of nearly USD 818 million by 2027.

The Europe hot sauce industry is being driven by rising expenditure by the leading market players in the development of innovative flavour options of hot sauces. In addition, the growing consumer awareness pertaining to the benefits of consuming hot sauce is also expected to add to its popularity in the forecast years. In this regard, the intake of hot sauce has been associated with weight loss, improved heart health, and reduced risk of diabetes, among others. This can be attributed to the presence of antioxidants and vitamins in chilli peppers, which are the primary ingredients of hot sauce, along with capsaicin, which is believed to help improve the metabolism and decrease inflammation.

The rapid internet penetration across the region is driving consumers to engage in online shopping. This can be attributed to the availability of a wide variety of food products as well as the ability to compare their prices and avail discounts across online grocery stores. In this regard, the growing availability of wide range of hot sauces is expected to augment the market growth in the forecast period. For instance, Amazon (NASDAQ: AMZN) offers a variety of hot sauces, including international flavour variants. In addition, these hot sauces can be served as condiments to accompany dishes, such as burgers, fries, and sandwiches, among others or can also be used in the cooking process, thereby positively impacting the hot sauce industry growth in the forecast period.

Market Breakup by Product Type, Packaging, Distribution Channel, Application, End Use, and Region:

  • The market is divided, based on product type, into medium hot sauce, mild hot sauce, and very hot sauce.
  • On the basis of packaging, the market can be distributed into jars, bottles, and others.
  • Based on distribution channel, the industry is segregated into supermarkets and hypermarkets, convenience stores, online, and others.
  • The industry is segmented, on the basis of application, into cooking sauce and table sauce.
  • On the basis of end use, the industry can be categorised into commercial and household.
  • Region-wise, the Europe market for hot sauce can be divided into the United Kingdom, Germany, France, Italy, and others.

Key Findings of the Report:

  • The Europe market for hot sauce is being driven by the rising investments by the leading market players in the research and development of innovative flavour variants.
  • The growing demand for spicy condiments and seasoning has significantly contributed to the market expansion.
  • Increased use of hot sauce for cooking purposes is also aiding the industry growth.
  • The rising disposable incomes and improved purchasing power of consumers are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe hot sauce market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, packaging, distribution channels, applications, end uses, and major regions of hot sauce.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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