June 17, 2020
According to the research report titled ‘Global Dipping Sauce Market Size study, by Product Type (Animal, Plant and Other Product Type), by Flavor Type (Ruminants, Poultry, Aqua, Swine, Equine and Others), by Distribution Channel (Direct sale and Indirect sale) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global dipping sauce market is predicted to witness rapid expansion by the year 2026.
Rising adoption of dipping sauce as a dressing with various food items such as seafood, pizza, sandwich and potato chips in order to improve texture and flavor to the cuisine is a major factor driving the market growth. Dipping sauce helps in enhancing the taste of the food items and is prepared from several combinations of ginger, garlic, mayonnaise etc. which comprise of low fat and are highly nutritious.
Increasing disposable income and rapid urbanization in emerging economies are further aiding the market expansion. According to World Health Organization, worldwide urban population is estimated to increase annually by 1.84% during 2015-2020, 1.63% between 2020 and 2025 and 1.44% over 2025-2030.
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Rising penetration of fast food as well as food chain outlets is also stimulating the industry outlook. Although dipping sauce helps in improving the flavor, the product has adverse effects on the nutrition value of the food item, which in turn could hinder the market expansion.
Based on product type, dipping sauce market is split into plant, animal and others. Whereas as per flavor type, the industry is bifurcated into equine, swine, aqua, poultry, ruminants and others. Citing the distribution channel, the market is divided into indirect sales and direct sales.
Regionally, North America dipping sauce industry is poised to amass substantial revenues in the forthcoming years, primarily due to increasing health awareness and growing demand for fast food products.
On the other hand, Asia-Pacific market is expected to record momentous growth during the analysis timeframe. Factors such as rapid urbanization and rising per capita income are complementing the industry outlook in the region.
Renfro Foods, Sweet Baby Ray’s Inc., Specialty Food Association Inc., Jewel Fine Foods, Chris’ Food Culture, Yihai International Holdings Ltd., Giraffe Foods Inc., Dr. Oetker India Pvt. Ltd., FunFoods Pvt. Ltd. and Panama Foods are the key participants in global dipping sauce market.