Condiments Sauces - A Significant Part of Everyday Diet in Asia Pacific
Condiments Sauces Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
In countries across the globe, especially Asia Pacific, ketchup is not the king of condiment sauces. Instead, a wide variety of condiments sauces are used almost on a daily basis across countries such as India, Japan, Australia, South Korea, China, Hong Kong, Singapore, Malaysia, Indonesia, New Zealand, Philippines, and Thailand. Each of these countries, and often even towns and cities within them, have their own ways of adding flavor to their food.In countries from North America, condiments sauces are not only minimally used but are also minimal in variety; ketchup, mayonnaise, steak, and mustard sauce are the most prominently used sauces in this region. However, in Asia Pacific condiment sauces market are not only in plentiful but also considered central to the overall value of the meal.Transparency Market Research, a U.S.-based market research firm, states that the market for condiments sauces had a net worth of US$6,137.01 million in 2014. The market is projected to grow at a CAGR of 5.85% between 2014 and 2020 and reach US$8,629.7 million by 2020.
Browse Full Asia Pacific Condiments Sauces Market Report With Complete TOC @ http://www.transparencymarketresearch.com/asia-pacific-condiments-sauces-market.html
What is Driving the Market?
Condiments sauces are worthy of making any bland food item flavorful and spicy. These sauces can be used either in cooked food or as table dips or both. The increasing demand for condiments sauces in Asia Pacific can be largely attributed to the busy lifestyles and rising urbanization in the emerging countries of these regions. An increased preference for fast food, which has condiments sauces as an important ingredient, is also a key driving factor behind an increased demand for condiments spices in these regions.