Hot sauces and barbeque sauces are new in Indian but heartily welcomed by Indian because of their taste. The major players which offer hot sauces in the market are organized players like FunFood, Veeba, Del Monte, Cremica, American Garden, Sil etc.
Indian Chinese, hot and barbeque sauces market consists of Chinese sauces like red chilli sauce, green chilli sauce, soya sauce and Schezwan sauce; hot sauces like chilli garlic sauce, hot chilli sauce, pepper sauce, salsa sauce, sweet chilli sauce and the like; and barbeque sauce. The market was valued at more than INR 100 crores in the year 2011-12. Major companies in this market in India include Capital Foods with the brand name Ching’s Secret, FieldFresh Foods Pvt. Ltd. With the brand Del Monte and Dr. Oetker’s FunFood brand. All these three companies together contribute more than 70% of the total Indian Chinese, hot and barbeque market.
According the report on 'India Chinese, Hot and Barbeque Sauces Market Overview, 2018-2023' published by Bonafide Research, the Indian Chinese, hot and barbeque market is expected register a CAGR of more than 15% from 2017-18 to 2022-23. The highest share is expected to be of Chinese sauces, which is more than 75% of the total Chinese, hot and barbeque sauces market, and it is expected to generate a revenue of around INR 500 crores in the year 2022-23. Moreover, it is expected that around two-third of the revenue will be generated from retail sale. It is so, because people these days prefer to cook their favourite dishes at home due to hygiene concerns. Also, with the increasing urbanisation, two things have changed: people are now aware about presence and uses of these sauces as they come to cities; and second that many towns are now being converted into cities which again has the same effect of increase in demand due to increase in the QSRs. Due to this, the share of institutional sale is expected to increase.
The share of Schezwan sauce is currently more than 25% of the total Chinese sauce market. This share is expected to increase in coming five years. Schezwan sauce is mainly used to make Chinese cuisine with chicken and also vegetarian Chinese. Due to increasing demand of these dishes owing to various factors, the demand for Schezwan sauce is expected to increase in the future. Whereas the relative share of red chilli sauce is expected to reduce by around 5 percentage point. It is so because the share of Schezwan sauce will rise considerable. However, in absolute terms, the demand for red chilli sauce will rise owing to the factors such as rising disposable income, increasing population, etc.
Major companies operating in this market are Capital Foods with its brand Ching’s Secret, FieldFresh Foods Pvt.Ltd with Del Monte brand and Dr. Oetker India Pvt. Ltd. with its brand FunFoods. Also, companies like Veeba have institutional sales to the brands like Tea post, which is an Indian brand. Moreover, the institutional trade for Chinese, Hot and Barbeque sauces is expected to account for around one-third of the total sales of the market in the forecasted year 2022-23.
Major companies that operate into the Chinese, Hot and Barbeque Sauces market in India are Capital Foods Pvt. Ltd. (Ching’s Secret), FieldFresh Foods Pvt.Ltd. (Del Monte), Dr. Oetker India Pvt. Ltd. (Funfoods), Veeba Food Services Pvt. Ltd., Cremica Food Industries Limited, Bajoria Foods (American Garden), Scandic Food (Sil), WeikField Foods Pvt. Ltd.
Report: India Chinese, Hot and Barbeque Sauces Market Overview, 2018-2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 61, Figures: 20, Tables: 9
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