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The market for condiments worldwide, which comprises, among other things, sauces, spreads, dips, and dressings, is anticipated to reach $139.2 billion this year. With a CAGR of 4.28%, the market is anticipated to grow to $172.2 billion by 2026.
As a method to give everyday foods, such as main courses, sides, and snacks, a delectable taste boost, condiments have a long history and widespread popularity. Due to its emphasis on tastes, the industry is dynamic and defined by ongoing innovation and the spread of regional and local flavours around the globe.
In this cutthroat market, marketers must be well-aware of the tastes that will appeal to customers the most and the variations in consumer demographics. While flavour innovation dominates this sector, businesses are increasingly turning to nutrition and wellness as methods for luring in new customers.
Leading with Flavour:
Nearly a quarter of American customers go out of their way to sample new tastes of sauces and spreads, compared to more than half who occasionally do so. This demonstrates that taste experimentation is prevalent in this market, suggesting that introducing new flavours may be a wise move in attracting new American consumers. Although 41% of American customers believe they are more interested in sampling new tastes that are comparable to their favourites, the flavours shouldn’t be drastically different from those to which consumers are accustomed. Using flavours that are well-known to consumers but either new or underrepresented in the sauce aisle, such as bourbon, Thai peanut, ginger sesame, and maple bacon, is one way to address this demand.
Younger consumers lead in terms of their openness to taste experimentation. For instance, the proportion of people under 45 who are interested in exploring tastes and ingredients like peri peri, togarashi, gochujang, chimichurri, and za’atar in a dip or sauce is significantly greater than that of people over 45.
Components Of Successful Components:
Glanbia Nutritionals provides a comprehensive array of solutions for sauces and spreads to match your demands, whether your next condiment will be focusing on flavour, nutrition, or both. To find out more about how our nutritional and practical solutions may elevate your sauces and spreads, get in touch with us.