Sauces & Spices - BRICS | Statista Market Forecast

Revenue in the Sauces & Condiments market amounts to US$85.90bn in 2024. The market is expected to grow annually by 7.72% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$46bn in 2024).
In relation to total population figures, per person revenues of US$26.05 are generated in 2024.
In the Sauces & Condiments market, volume is expected to amount to 27.06bn kg by 2029. The Sauces & Condiments market is expected to show a volume growth of 5.2% in 2025.0.
The average volume per person in the Sauces & Condiments market is expected to amount to 6.7kg in 2024.

Definition:

The Sauces & Spices market covers all substances that are additional ingredients used during the food preparation process. Sauces are defined as liquid or semi-liquid preparations that are used to improve the flavor, texture, and appearance of a dish. Spices are dried seeds, fruits, etc. that are added to food to add taste, scent, and color.

Structure:

The market consists of three different submarkets:

The Tomato Ketchup market covers seasoned sauces most commonly based on tomatoes. It is often used as a condiment for fast food such as burgers and fries.
The Other Sauces market covers other types of sauces other than ketchup, such as mustard, mayonnaise, soy sauce, BBQ sauce, and other emulsified sauces as well as products for preparing sauces, i.e., gravy granules and bouillon cubes.
The Spices and Culinary Herbs market covers salt, spices, and culinary herbs such as pepper, chilis, curry, parsley, rosemary, and thyme.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Ketchup
Sauces
Seasonings
Spices and herbs

Vegetable Oils
Out-of-home consumption

The BRICS Food Market, particularly the Sauces & Spices Market, has seen moderate growth due to factors such as increasing health consciousness, convenience of online services, and the popularity of flavorful cuisines. However, subdued growth is influenced by factors such as fluctuating raw material prices, changing consumer preferences, and intense competition within sub-markets.

Customer preferences: As consumers in BRICS countries become more health-conscious, they are also seeking healthier options in their food choices. This has led to a rise in demand for sauces and spices that are free from artificial ingredients and preservatives. Additionally, with the rise of online shopping and e-commerce platforms, consumers are increasingly opting for convenience and purchasing sauces and spices online, driving growth in the e-commerce segment for this market.

Trends in the market: In the BRICS countries, the Sauces & Spices market is experiencing a surge in demand for healthier and more natural products. This trend is driven by a growing awareness of the health benefits of using natural ingredients and a desire for more variety in flavor options. As a result, there has been a rise in the production and consumption of organic and clean label sauces and spices. This trend is expected to continue, as consumers become more health-conscious and seek out products that align with their values. This presents opportunities for industry stakeholders to innovate and cater to this growing demand, while also facing potential challenges in sourcing and pricing of natural ingredients.

Local special circumstances: In Brazil, the Sauces & Spices Market within The Food market is influenced by the country's diverse culinary traditions and large agricultural sector. The use of local ingredients and traditional cooking methods make Brazilian sauces and spices unique in flavor. Additionally, the country's regulatory policies promoting organic and sustainable farming practices have led to a rise in demand for organic sauces and spices. This has also opened up opportunities for small-scale farmers and businesses to enter the market.

Underlying macroeconomic factors: The Sauces & Spices Market within The Food market is significantly influenced by macroeconomic factors such as global trade policies, consumer spending patterns, and government regulations. Countries with stable economies and favorable trade agreements are experiencing a boost in market growth, as they can easily import and export spices and sauces. Additionally, consumer preferences for healthier and more diverse food options are also impacting the market, with a growing demand for organic and ethnic flavors. Government policies promoting food safety and quality standards are also driving the growth of the Sauces & Spices Market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.