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 this market is anticipated to be valued at somewhere around 32 billion dollars 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 (Aidepi), Italy ranks first in the consumption and production of pasta. In the global pasta industry, Germany, France, UK, US, 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 sauce, which is one of the main ingredients in making pasta dishes.
MAIN EXPORTS MARKETS
Westernization is increasing across regions, which makes pasta and 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. Asia Pacific is a booming market, owing to flavor inspiration and increasing per capita income, which enables the population to try palatable cuisines and dishes. Increased penetration of producers in developing economies has made the sauce market more competitive with frequent and innovative product launches, more convenient delivery of products, and high quality certified products. Food service providers and food manufacturers are showing keen interest in bringing pasta sauce into their production lines, which is expected to drive the demand in the coming future.
PASTA SAUCE: THE ADDED VALUE OF PREMIUMIZATION
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. In this market, flavor inspiration is one of the major factors resulting in the booming demand for pasta sauce among customers. Sauces are made with a variety of food ingredients that impart their taste, aroma, and texture to them. Due to the wide availability of a different range of flavors, it is popping up in grocery store aisles as the most preferred go-to cooking sauce.
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