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.
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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.
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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.
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