Global Chili Sauce market will reach 20561.56 million US$ by the end of 2024

Publisher: QYResearch

Published Date: 2019/8/20

The market size of Chili Sauce was 16464.41 M USD in 2018 and is expected to reach 20561.56 M USD in 2024, growing at a CAGR of 4.54% from 2018 to 2024. Overall, the Chili Sauce products performance is positive with the current environment status.

Chili Sauce have wide range of applications, such as Home Use and Commercial Use, Home Use was the most widely used area which took up about 68.2% of the global total in 2018.

Chili Sauce are mainly classified into the following types: Combination and Original Type. Combination is the most widely used type which takes up about 60.84% of the total in 2018 in the Global market.

In Consumption market, revenue of Chili Sauce in China will increase to be 6492.87 M USD in 2024 from 5088.34 M USD in 2018, took about 32.3% market share in 2018, which is the biggest consumption area in current market pattern. North America ranks the second largest consumption area, with sales revenue and market share of 3243.19 M USD and 20.59% % in 2018.

McIlhenny, Huy Fong Foods, McCormick, Chung Jung One, Cholula Hot Sauce, Delmaine Fine Foods, Laoganma, Lee Kum Kee, Kraft Heinz, Kikkoman, Real Thai (Thaitan Foods), Lameizi Food, Nando's, ThaiTheparos, Guilin Huaqiao, Lingham&Sons, Masan Group, Del Monte, Remia International, Yakin Sedap Sdn. Bhd., etc. are the key suppliers in the global Chili Sauce market. The market is not so concentrated for now and is seeing to be more dispersed.

In the recent years, with high demand for healthy products at home and abroad, the consumption increase of Chili Sauce has been obvious. In the foreseeable future, the Chili Sauce will show an optimistic upward trend.

Although sales of Chili Sauce bring a lot of opportunities, the study group recommends the new entrants who just have money but without technical advantage, raw materials advantage and downstream support, do not enter the Chili Sauce field hastily.

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