Annual Table Sauces, Seasonings and Sweeteners Market Overview - International - 2014
This global annual market overview will provide you with an in-depth review of the key issues in the global table sauces, seasonings and sweeteners market through 2013 as well as our forecast for what will happen in 2014 and beyond. Globally, the table sauce market saw steady growth in 2013, with value increasing by just under $1 billion to $38.9 billion.
The main markets driving growth are coming from the emerging economies in Asia and Latin America. If current growth rates continue it is likely that by the end of 2014, four of the five largest table sauce markets will come from these regions, the exception being the world’s largest condiment market, the US. In emerging markets such as Brazil, the newly affluent middle classes are driving the country’s economy by buying products that were previously unaffordable, such as washing machines, flat screen TVs and mobile devices. In food, more consumers are able to afford to move from commodity essentials and purchase more discretionary treats such as table sauces. Many Asian markets already had quite high levels of table sauce consumption as soy sauce has long been part of their diet, however here the emerging middle classes are looking for new flavours and buying into more added value soy sauces or western flavours such as ketchup and mayonnaise. With table sauces all about flavour enhancement, the growth in emerging markets is also helping to inspire new flavours in many Western countries with flavours such as wasabi or chimichurri starting to appear.
Whilst there is little sign of a slowdown in growth in the table sauce category the global sugar and sweeteners market is likely to be a more challenging environment in the next few years. Globally 2013 has been a good year, with category sales up by more than $1 billion. However a number of research studies have identified sugar consumption as a major cause of obesity, particularly affecting middle to low income economies, many of which now have similar obesity rates to more developed western markets. Pressure is growing to help encourage consumers reduce their sugar intake.
Whilst primarily this is focussed on encouraging the food industry to reduce sugar levels in processed food and drinks, it is also likely to affect consumption levels of table top sugars sweeteners. This may provide opportunities for high intensity sweeteners, however whilst sweeteners such as stevia have been the focus for innovation, the number of new launches for stevia, monk fruit or agave-based sweeteners fell in 2013.
This was mainly driven by a decline in activity levels in Europe as suppliers look to maximise returns from the wave of new products that came to market in 2012, and may also have been impacted by the debate over the naturalness of stevia.
Products such as stevia also face challenges in 2014. There has been significant debate in both the US and Europe about whether these products can be described as natural, which will have damaged consumer confidence somewhat. Whilst more consumers have said they are using plant-based sweeteners such as stevia, concerns remain over its aftertaste, cost and ease of use.
As such we can expect to see more sugar / sweetener blends coming to market in 2014. These can offer consumers the ability to reduce their sugar intake, whilst being more affordable and less challenging in terms of taste than 100% sugar free products. Finally as global economies, and consumer incomes, start to improve this may also have an impact on categories such as seasonings and sweeteners. Many consumers, particularly in the US are now starting to either eat out, or buy more premium convenient meal solutions such as ready meals.
As a result the recent trend throughout the recession for home scratch cooking and baking may be threatened. In order to maintain consumer engagement in home cooking and baking, seasoning and sweetener suppliers will have to invest in new flavour and formats that can provide either new taste experiences or offer natural, healthy solutions.
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