Global Pasta Sauce market expected to grow at a CAGR of 3.5% and is anticipated to reach around USD 12300 Million by 2026.
NEW YORK, UNITED STATES, June 8, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Pasta Sauce Market By Type (Red sauce, Green sauce, White sauce, and Others) and By Packaging (Glass, Cans, Pouches, PET, and Cartons), and By Distribution Channel(Direct, Indirect, Departmental stores, Modern Trade, E-commerce, Convenience Stores and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Pasta Sauce market in 2019 was approximately USD 9600 Million. The market is expected to grow at a CAGR of 3.5% and is anticipated to reach around USD 12300 Million by 2026.
Pasta sauce is poured in the different pasta for flavor and exclusive taste. Increasing cross-cultural influence has grown demand for intercontinental cuisine such as pizza, pasta, lasagna and so on over the years. The market offers numerous types of pasta sauce that includes arrabbiata sauce, fresh tomato sauce, primavera, etc.
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There is an intense rivalry is existing between the leading market players. The prominent players of the Pasta sauce industry are Campbell, Sacla, Barilla, Leggos, Giovanni Rana, Dolmio, Knorr, Hunts, Premier Foods, Newman's Own, Heinz, Private Labels, Del Monte Foods, BandG Foods, Francesco Rinaldi, andMizkan.
According to the type, the pasta sauce is categorized as red sauce, green sauce, white sauce, and others. It is projected that white sauce is estimated to create significant demand in the forthcoming time, owing to creamy taste which satisfies the human tastebuds. In the term of Packaging, the pasta sauce market is bifurcated as cans, cartons, pouches, PET, and glass. The PET jar category is projected to generate significant demand owing to cost-effectiveness and longer shelf life.
Growing demand from the HoReCa sector (Hotels, Restaurants, and Cafe) is projected to drive market growth in the forthcoming time. Furthermore, retail sector development in different regions, as well as the high availability of international pasta sauce brands, is estimated to increase the growth of the global pasta sauce market in the forthcoming time. Increasing demand for intercontinental cuisine is a major factor boosting the global pasta sauce market, owing to evolving consumer preference and rising disposable income among individuals. Growing preference for home-cooked food rather than ready-to-eat meals is a further factor expected to propel target market growth in the forthcoming time. Moreover, high raw material costs resulting in high-end product costs and availability of ready-to-eat goods and frozen pasta are expected to some degree may hinder target market growth.
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Europe is the prominent market, accounting for nearly 33% of the total market share in 2016, owing to the growth of the pasta sauce industry in this region. Pasta is considered as a source of carbohydrates in Russia. The recipe of pasta is born in Italy, the large population of Italy consumes pasta on a regular basis. Europe became the highest exporter of the pasta due to the highest production of pasta in the region.In recent times, Asia Pacific is undergoing an unprecedented boom and is likely to gain momentum in the forthcoming time. This is mainly due to increased demand for ready-to-eat food along with the augmented capacity to spend per capita on processed and packaged food. The pasta was mainly consumed in Chinese and Indian metro cities, but pasta and pasta sauce are now available in local retail shops, which is expected to boost the market growth in these regions. North America is the second-largest share of the global revenue produced in 2015 due to a shift in preference to ready-made sauces to reduce the time spent cooking. This is mainly due to the inability to cook food every day. North America is comprised of some of the major players that help sustain the market. In Mexico the traditional consumption of food is high. In addition, with stylish packets and Mexico-flavored sauces, the major players attract customers.
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This report segments the Pasta Sauce market as follows:
Global Pasta Sauce Market: By Type Segmentation Analysis
Global Pasta Sauce Market: By Packaging Segmentation Analysis
Global Pasta Sauce Market: By Distribution Channel Segmentation Analysis
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