“Rising Application of Oriental Sauces in Different Cuisines to Fulfil Consumers’ Cravings for Spicy & Bold Flavors Driving Market Expansion”
United States, Rockville MD, July 21, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, sales of oriental sauces are expected to increase at a CAGR of 5.6% from 2022 to 2032. Global demand for oriental sauces is projected to rise at a CAGR of 5.6% from 2022 to 2032.
Customers are becoming more conscious of the food options available to them and are worried about the food's origin to maintain their health. More people are cutting out unhealthy foods from their diets and opting for soy sauces with clean labels that don't include artificial preservatives. In particular, increasing appetite for oriental flavors among Generation X and millennials is expected to ensure the sustainability of the oriental sauce market. The discriminating palate of this population with cravings for spicy and bold flavors is satiated by Asian cuisine, driving the demand for oriental sauces.
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Key Takeways From Market Study Report –
North America holds for 29.2% share of the global oriental sauce market due to the growing usage of oriental sauces in packaged foods and food service industries.
Europe accounts for 23.3% share of the global market.
Sales of oriental sauces through online channels are expected to rise at a significant CAGR over the forecast period.
Buoyancy in the restaurant industry and extensive restaurant chains of Asian cuisine are set to drive the oriental sauce market.
The growth of the global oriental sauce market is projected to be influenced by macro- as well as micro-economic factors.
Rising Implementation of Food Processing and Preservation Technologies Boosting Demand for Oriental Sauces
Growing Usage Of Oriental Sauces In Packaged Foods & Customers' Growing Interest In Diverse Cuisines Driving Market Growth In North America & Europe
What Key Dynamics may Start-ups Profit from?
“New Entrants Concentrating on Creation of Innovative and Nutrient-dense Oriental Sauces”
New companies are concentrating on the creation of innovative and nutrient-dense oriental sauces to keep up with the current demand. New entrants are focusing on research and development (R&D) initiatives to maintain the emphasis on flavor and innovations in oriental sauces.
Zhong Sauce was introduced by California-based startup Fly By Jing. It is inspired by the well-known, traditional Chengdu street snack Zhong Dumplings. It is simultaneously highly tasty and adaptable since it is sour, salty, smoky, and flavorful. With the best handmade sauces, condiments, and dressing, Fly By Jing aims to increase the variety of natural foods.
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Which Sales Channel is Gaining Huge Market Attention?
“Easy Availability of Oriental Sauces through Multiple Online Channels Boosting Market Demand”
On the basis of the sales channel, the oriental sauce market is segmented into online and offline.
With the improved packaging solutions, different flavors of oriental sauces are available in local retail stores as well as super stores. e-Commerce is an important factor that has increased exposure to different oriental sauces in the world population.
Due to the easy availability of oriental sauces through multiple online channels, these Asian flavors are accessible to most consumers, which, in turn, has intensified the demand for oriental sauces.
Most food giants that manufacture a variety of oriental sauces have penetrated their roots in the global market while satisfying the demand of a range of consumers. Consumers' taste preferences are evolving today, and they are searching for sauces that are flavorful, healthful, and have a long shelf life.
To maintain and enhance the flavor of sauces, oriental sauce manufacturers are putting efforts into developing new products with low pH levels. Global market expansion will be aided by a fast, continuous rise in consumer living standards and ongoing technological advancements.
Virosco, a Russian food company that manufactures condiments and preservatives, launched a new packaging design for its soy sauce brand Dynasty Shen. This new packaged sauce features authentic Japanese food such as sesame-coated chicken, fiery beef, and sushi.
Key Segments Covered in Oriental Sauce Industry Research
Oriental Sauce Market by Type
Oriental Sauce Market by Sales Channel
Oriental Sauce Market by Region
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