On the basis of the newly published report titled,
'Pasta Sauce Market: Global Industry Analysis and Opportunity Assessment
2018-2028', by Transparency Market Research, the overall revenue generated from
the pasta sauce market is anticipated to be valued at somewhere
around US$ 32 Bn in 2018, which is expected to rise at a CAGR of 6.5%
throughout the forecast period (2018-2028).
According to the data published by the Italian
Association of Confectionery and Pasta Industries, Italy ranks first in the
consumption and production of pasta. In the global pasta industry, Germany,
France, U.K., U.S., and Japan consume 61% of Italian exports. The pasta sauce
market has registered remarkable growth over the last few decades, owing to
increasing per capita consumption of pasta throughout the globe. The rising
demand for pasta is directly fueling the demand for pasta sauce, which is used
as one of the main ingredients in making pasta dishes. Westernization is
increasing across regions, which makes pasta and pasta sauce one of the most
loved Italian dishes. In the global pasta sauce market, Europe holds a
prominent share in the production and consumption of pasta sauce. On the basis
of our research, Asia Pacific is a booming market for the pasta sauce, owing to
flavor inspiration and increasing per capita income, which enables the
population to try palatable cuisines and dishes. Increased penetration of pasta
sauce producers in developing economies has made the pasta sauce market more
competitive with frequent and innovative product launches, more convenient
delivery of products, and high quality certified products. Foodservice
providers and food manufacturers are showing keen interest in bringing pasta
sauce into their production lines, which is expected to drive the demand for
pasta sauce in the coming future.
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The Rise of the Premiumization of
Things
The concept of 'premiumization' is influencing the
pasta sauce market at large, extending beyond pricing, to include incredible
quality and a superior experience. Premiumization has fueled consumer taste for
value-added and high-quality products with good quality ingredients that promise
enhanced health benefits. Consumers are willing to pay a premium price for
products offering tangible health benefits – the only prerequisite being the
promise of a unique offering that meets their basic health and dietary needs.
Rising Demand for Lip-smacking
Food Products
In the global food and beverage market, customers
are getting attracted towards lip-smacking food products. In addition, flavor
inspiration is also influencing the food and beverage market, as people explore
more of the world through the palatability of their cuisines. In the pasta
sauce market, flavor inspiration is one of the major factors resulting in the
booming demand for pasta sauce among customers. Pasta sauce is made with a
variety of food ingredients that impart their taste, aroma, and texture to the
pasta sauce. Due to the wide availability of a different range of flavors,
pasta sauce is popping up in grocery store aisles as the most preferred go-to
cooking sauce.
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Pasta Sauce Market: Competition
Dashboard
TMR has profiled some of the prominent companies
active in the pasta sauce market, such as Mizkan Co., Barilla S.p.A., Dolmio
(Mars Inc.), Hunts (ConAgra Foods, Inc.), The H. J. Heinz Company, Newman Own
Co., B&G Foods Holdings Corp., CSC Brand LP, Premier Foods plc., Lassonde
Specialties Inc., Giovanni Food Company, Inc., Pellicano's Specialty Foods,
Vino De Milo, Delgrosso Foods Inc., Nature’s Sun Grown Foods, Inc., Monterey
Gourmet Foods, Dave’s Gourmet Inc., Nellino’s Sauce Co. and others.
Pasta Sauce Market: Key Insights
Increasing global presence and expansion of global
players involved in pasta sauce processing are also having a deep impact on the
increasing sales of pasta sauce around the world. Many companies are expanding
by acquiring regional players, enhancing their product offerings, and pasta
sauce processing facilities.
