On the basis of the newly published report titled, 'Pasta Sauce Market:Global Industry Analysis and Opportunity Assessment 2018-2028', by TransparencyMarket Research, the overall revenue generated from the pasta sauce market is anticipatedto be valued at somewhere around US$ 32 Bn in 2018, which is expected to riseat a CAGR of 6.5% throughout the forecast period (2018-2028).
According to the data published by the Italian Association ofConfectionery and Pasta Industries, Italy ranks first in the consumption andproduction of pasta. In the global pasta industry, Germany, France, U.K., U.S.,and Japan consume 61% of Italian exports. The pasta sauce market has registeredremarkable growth over the last few decades, owing to increasing per capitaconsumption of pasta throughout the globe. The rising demand for pasta isdirectly fueling the demand for pasta sauce, which is used as one of the mainingredients in making pasta dishes. Westernization is increasing acrossregions, which makes pasta and pasta sauce one of the most loved Italiandishes. In the global pasta sauce market, Europe holds a prominent share in theproduction and consumption of pasta sauce. On the basis of our research, AsiaPacific is a booming market for the pasta sauce, owing to flavor inspirationand increasing per capita income, which enables the population to try palatablecuisines and dishes. Increased penetration of pasta sauce producers indeveloping economies has made the pasta sauce market more competitive withfrequent and innovative product launches, more convenient delivery of products,and high quality certified products. Foodservice providers and foodmanufacturers are showing keen interest in bringing pasta sauce into theirproduction lines, which is expected to drive the demand for pasta sauce in thecoming future.
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The Rise of the Premiumization of Things
The concept of 'premiumization' is influencing the pasta sauce market atlarge, extending beyond pricing, to include incredible quality and a superiorexperience. Premiumization has fueled consumer taste for value-added andhigh-quality products with good quality ingredients that promise enhancedhealth benefits. Consumers are willing to pay a premium price for productsoffering tangible health benefits – the only prerequisite being the promise ofa unique offering that meets their basic health and dietary needs.
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Rising Demand for Lip-smacking Food Products
In the global food and beverage market, customers are getting attractedtowards lip-smacking food products. In addition, flavor inspiration is alsoinfluencing the food and beverage market, as people explore more of the worldthrough the palatability of their cuisines. In the pasta sauce market, flavorinspiration is one of the major factors resulting in the booming demand forpasta sauce among customers. Pasta sauce is made with a variety of foodingredients that impart their taste, aroma, and texture to the pasta sauce. Dueto the wide availability of a different range of flavors, pasta sauce ispopping up in grocery store aisles as the most preferred go-to cooking sauce.
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Pasta Sauce Market: Competition Dashboard
TMR has profiled some of the prominent companies active in the pastasauce market, such as Mizkan Co., Barilla S.p.A., Dolmio (Mars Inc.), Hunts(ConAgra Foods, Inc.), The H. J. Heinz Company, Newman Own Co., B&G FoodsHoldings Corp., CSC Brand LP, Premier Foods plc., Lassonde Specialties Inc.,Giovanni Food Company, Inc., Pellicano's Specialty Foods, Vino De Milo,Delgrosso Foods Inc., Nature’s Sun Grown Foods, Inc., Monterey Gourmet Foods,Dave’s Gourmet Inc., Nellino’s Sauce Co. and others.
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Pasta Sauce Market: Key Insights
Increasing global presence and expansion of global players involved inpasta sauce processing are also having a deep impact on the increasing sales ofpasta sauce around the world. Many companies are expanding by acquiringregional players, enhancing their product offerings, and pasta sauce processingfacilities.
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