The Seasoning, Sauce and Condiment Production industry revenue grew over the past five years, as a result of increased demand for its products and a rise in per capita disposable income. However, due to higher input costs, manufacturers raised their product prices to maintain earnings, which led to restrained revenue growth during the period. In the five years to 2019, the industry is expected to grow at a slightly faster pace than the previous five years. Higher disposable income levels will drive demand as consumers dine out more and purchase more products at the retail level. In addition, new products and clever marketing strategies will drive revenue growth.
This industry manufactures products such as mayonnaise, dressings, spices, extracts and dry food mixes from a variety of ingredients. Industry products are then sold to downstream wholesalers, food manufacturers and retail markets. Ketchup and other tomato-based sauces are excluded because they are part of the Canned Fruit and Vegetable Processing industry (IBISWorld report 31142).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.