Global Barbecue Sauce Market Expected to Grow at a 5.20% CAGR over 2030

February, 2023/MRFR Press Release/- Market Research Future has published a report on the Global Barbecue Sauce Market.

Market Synopsis:

As per Market Research Future (MRFR)’s analysis, the global barbecue sauce market resonates explorable growth opportunities which are likely to accelerate revenue creation for the key players. The global market has become a melting pot for different food cultures. Barbecue sauce has penetrated major country-level markets and is projected to accrue substantial revenue across the forecast period.

The demand for organoleptic property of barbecue sauces for seasoning has been on a rise which is prognosticated to propel the expansion of the market. In addition, the large-scale presence of foodie culture across the global market has motivated the key players to experiment with flavors and innovate product lines. This, in turn, is presumed to have a favorable impact on the expansion of the barbecue sauce market in the forthcoming years.

The widespread distribution channels have optimized the customer reach for the market participants. Globalization ensures international reach for the authentic as well as innovative flavors, which has led to an expansion of the barbecue sauce market over the next couple of years. The trend has been anticipated to perpetuate in the years to come.

Market Segmentation:

By form, the global barbecue sauce market has been segmented into liquid, paste, and others.

By flavor, the barbecue sauce market has been segmented into spicy, sour, cultured sweet, and others.

By specialty attributes, the global barbecue sauce market has been segmented into non-GMO, gluten-free, organic, and others.

By distribution channel, the barbecue sauce market has been segmented into store-based, and non-store based.

Regional Analysis:

The global barbecue sauce market, by region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America holds the maximum share of the global market owing to its changing food pattern. Furthermore, the rise in demand for the ketogenic diet has led to an increase in consumption of barbecue sauce as it includes grilled food. This is likely to emerge as one of the most prominent trends in the market over the next few years.

Europe is likely to exhibit a similar trend and exhibit steady growth across the forecast period. The U.K. and Germany are the major exporters of the sauce and are expected to augment the barbecue sauce market over the assessment period. Meanwhile, the rate of consumption is likely to rise in Asia Pacific, thus, making it a highly lucrative market.

Competitive Dashboard:

Some of the major players in the global barbecue sauce market identified in this MRFR report are Kraft Foods Inc. (U.S.), Memphis Barbecue Co (U.S.) KC Masterpiece (U.S.), Sweet Baby Ray’s (U.S.), J Lee's Gourmet Bbq Sauce Inc. (U.S.), ConAgra Foods, Inc. (U.S.),  and Killer Hogs (U.S.).

The market signifies untapped potential which has encouraged the new entrants to participate in the revenue generation. Both the existing as well as the new players, on regional, national and international levels, are exploring flavors to revolutionize their product portfolios. It is likely to aid the proliferation of the global barbecue sauce market over the forecast period.

Industry News:

In January 2019, Lillie’s Q, pioneers of authentic Southern barbecue, has announced the launch of Carolina Barbecue Sauce in a zero-sugar variety.

In January 2019, Saddleback BBQ, Michigan's premier craft BBQ restaurant, has announced the launch of its popular "Sweet & Savory" red barbecue sauce for sale at its restaurants and other retailers.

In January 2019, Domino's, an American pizza restaurant chain, has added a new vegan pizza with barbecue sauce base to its product line.

In September 2018, Fancy Hank’s, Melbourne, has launched a new barbecue and hot sauce range.

In April 2018, the U.K.-based Hellman has added three barbecue sauces to extend its barbecue range.