https://www.bonafideresearch.com/product/180720071/India-Chinese-Hot-&-BBQ-Sauces-Market-Outlook-2023
Chinese, Hot
and Barbeque Sauces are more and more in demand due to increasing international
QSRs like Subway, Pizza Hut, Domino’s, KFC, etc and other domestic restaurant
and cafes serving western foods. These restaurants are now gaining much
popularity and increasing in number.
QSR stands for Quick Service Restaurants which
serve mainly fast food and beverages. The consumption of Chinese, hot and
barbeque sauces is much more in these restaurants as they serve multi cuisine
which is trending in recent times. They are used in making of the dishes or
else they are served with dishes as dip or sides. Having travelled to different
countries, people demand food tasted there. The number of outlets of these
chains are increasing day by day in many cities in India. Also they have
started entering Tier-II and Tier-III cities owing to the penetration in the
metros.
According
the report on 'India Chinese, Hot and
Barbeque Sauces Market Outlook, 2023' published by Bonafide Research, the
India overall market for Chinese, Hot and Barbeque Sauces is anticipated to
reach more than 700 crores in the year 2022-23. Due to increasing customers’
appreciation for Western cuisine, increased retail consumption, easy
availability of sauces and many such factors, the market has grown with a CAGR
of more than 15% during review period starting from 2011-12 to 2016-17. The
Chinese sauces include red chilli sauce, green chilli sauce, soya sauce and
Schezwan sauce. Hot sauces include sauces like chilli garlic sauce, hot chilli
sauce, pepper sauce, salsa sauce, sweet chilli sauce and other sauces like Thai
sauce.
There
is a considerable increase in the number of QSRs in the country. For instance,
McDonald’s has increased its outlets in India from 170 to 400, which is an
increase of around 1.35 times. Similarly, Kentucky Fried Chicken, popularly known as
KFC, has increased its outlets from just 50 in 2009 to 350 currently. Subway
has 600 outlets in the country currently, which has increased from 350 in 2013.
Moreover, there are many unbranded QSRs, pubs, bars fine dining restaurants and
casual dining restaurants, who are customers of these sauces. Hot sauces are
used in burgers, soups, salads, etc. In addition to this, the number of street
stalls is also increasing because of people’s inclination towards eating more
Chinese food outside. So, the institutional trade is increasing due to this
factor.
Subway uses barbeque sauce in its subs, which
has a strong smoky aroma and a very distinct pungent taste-tomato sauce mixed
with vinegar, onion, pepper and other spices. Also, it uses Chipotle Southwest
Sauce, Sweet Onion, Red Chilli Sauce, Harissa sauce, which is a chilli garlic
sauce. Currently, the newly introduced Chicken SubWrap is being served with Harissa
sauce.
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. All these three brands hold
more than 70% of the market currently. 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
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., Instar Foods (Posh Nosh), Wingreen Farms Pvt. Ltd., etc.
Report: India Chinese, Hot and Barbeque
Sauces Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast
Year: 2022-23
CONTACT
US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing Manager
Telephone: +91-265-6551309/ +91-7878231309
