Sizzling Sales: Hot sauce market to reach $3.77 billion by 2026, riding high on rising demand for international cuisines
The rising demand for various international cuisines that includes authentic dishes from all around the world is boosting the global Hot Sauce Market, says Fortune Business Insights in their new report.
The report is titled," Hot Sauce Market: Global Market Analysis, Insights, and Forecasts, 2018-2026" and it has prognosticated to grow remarkably with rising demand for spicy, bold, and exotic international cuisines among consumers.
According to the report, the market is anticipated to reach a value of $3.77 billion by the end of 2026.
Increasing population and the need to feed the growing population with diversified food products are key factors boosting the global Hot Sauce Market.
The change in lifestyle and eating habits of people have impelled them to try new cuisines most of the time.
This makes way for international cuisines to be tried, tested, and then start falling into the trending food category. Such factors contribute to the growth of the global market for hot sauce.
Additionally, the rising popularity of various Asian cuisines, which includes spicy, tangy, and unique taste such as Thai, Chinese, and Indian food items, is also propelling the Hot Sauce Market growth.
Besides this, there is a rising demand for exotic cuisines and fast-food, which is fueling the demand for hot sauce globally.
Even ketchup is being forced to play catch up.
Melinda's is a family owned hot sauce company based in Dallas that's been around since 1989.
They introduced the Habanero pepper to the country and turned it into a household staple.
The company is enjoying record-breaking sales.