Market Overview:
The global sriracha market is segmented on the basis of type, application and region. The type segment is further divided into dual flavoured and singular flavoured. The application segment is classified into catering industry, domestic place and others. Geographically, the market is analysed across North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The global sriracha market is projected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in this market can be attributed to the increasing demand for spicy food products across the globe coupled with rising disposable income of consumers in developing countries. Additionally, growing awareness about health benefits associated with consumption of spicy food products is also fuelling the growth of this market.
Product Definition:
Sriracha sauce is a hot chili sauce made from a paste of red chili peppers, garlic, sugar, salt, and distilled vinegar. It is named after the coastal city of Si Racha in Chonburi Province of Eastern Thailand.
Dual Flavoured:
Dual flavoured, also known as double-flavoured or 2-flavoured is a hot sauce or chili product that contains more than one type of chile. The term can be used to describe any food product containing both jalapeno and another type of pepper, such as chipotle. It's a popular variety in the U.S., especially among those who like things spicy but not too spicy (if you know what I mean).
Singular Flavoured:
Singular flavoured and it's usage in Sriracha market? Singular flavoured and it's usage in Sriracha market? Singular flavoured.
The concept of “singularity” was introduced by the American general aviation designer, Robert H. Goddard, who used the term to describe a characteristic of his successful liquid-fueled rockets.
Application Insights:
The others application segment accounted for the largest revenue share of over 50% in 2017. The product is widely used in various industries such as food and beverages, pharmaceuticals, cosmetics and personal care products among others. It is commonly used as a hot sauce alternative to enhance the taste of foods such as wings, nachos and other snacks among many more popular dishes across North America.
The catering industry was one of the major application segments that contributed significantly to overall market revenue in 2017 owing to increasing demand from consumers for Sriracha-based products at their events or functions. Catering companies are increasingly using these products due to its versatile functionalities including spiciness, heat level and availability at an economical price point among other than chili peppers which has been proven beneficial for most catered events or functions globally.
Regional Analysis:
The demand for the product is high in U.S., followed by Canada and Mexico, owing to the presence of a large number of restaurants that use or serve hot sauces. The industry has witnessed an increase in production as well as consumption over past few years on account of growing popularity among consumers, especially millennials.
Asia Pacific dominated the global market with a revenue share of more than 50% in 2017 due to increasing product availability at retail stores and rising consumer preference for Sriracha products over other hot sauces across various countries including China, India, Thailand and Singapore. Furthermore, increasing adoption by western countries such as U.S.
Growth Factors:
- Increasing demand for spicy food: As the world becomes more and more health conscious, the demand for spicy food is increasing. Sriracha is a perfect addition to any dish to give it that extra kick of flavor.
- Rising popularity of Asian cuisine: With its origins in Thailand, Sriracha has become popular in Asian cuisine. As people become more interested in different cultures and cuisines, the demand for Sriracha will continue to grow.
- Growing trend of DIY cooking: More and more people are getting into cooking at home, and adding Sriracha to their recipes is a great way to add flavor without having to use many ingredients. This makes it easy for anyone to make delicious dishes with just a little bit of sriracha sauce added in!
Scope Of The Report
Report Attributes
Report Details
Report Title
Sriracha Market Research Report
By Type
Dual Flavoured, Singular Flavoured
By Application
Catering Industry, Domestic Place, Others
By Companies
HUY FONG, Terrapin Ridge Farms, Trader Joes, Lee Kum Kee, THAITHEPAROS, Kosol-Ampa, Real Thai (Thaitan Foods), Healthy Boy's, Santa Maria (Paulig Group), Pantainorasingh Manufacturer
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global Sriracha Market Report Segments:
The global Sriracha market is segmented on the basis of:
Types
Dual Flavoured, Singular Flavoured
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Catering Industry, Domestic Place, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- HUY FONG
- Terrapin Ridge Farms
- Trader Joes
- Lee Kum Kee
- THAITHEPAROS
- Kosol-Ampa
- Real Thai (Thaitan Foods)
- Healthy Boy's
- Santa Maria (Paulig Group)
- Pantainorasingh Manufacturer
Highlights of The Sriracha Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Dual Flavoured
- Singular Flavoured
- By Application:
- Catering Industry
- Domestic Place
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Sriracha Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Sriracha is a hot sauce made from chili peppers, garlic, and vinegar.
Some of the key players operating in the sriracha market are HUY FONG, Terrapin Ridge Farms, Trader Joes, Lee Kum Kee, THAITHEPAROS, Kosol-Ampa, Real Thai (Thaitan Foods), Healthy Boy's, Santa Maria (Paulig Group), Pantainorasingh Manufacturer.
The sriracha market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sriracha Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Sriracha Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sriracha Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Sriracha Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Sriracha Market Size & Forecast, 2020-2028
4.5.1 Sriracha Market Size and Y-o-Y Growth
4.5.2 Sriracha Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Dual Flavoured
5.2.2 Singular Flavoured
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Catering Industry
6.2.2 Domestic Place
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sriracha Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Sriracha Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Dual Flavoured
9.6.2 Singular Flavoured
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Catering Industry
9.10.2 Domestic Place
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Dual Flavoured
10.6.2 Singular Flavoured
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Catering Industry
10.10.2 Domestic Place
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Dual Flavoured
11.6.2 Singular Flavoured
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Catering Industry
11.10.2 Domestic Place
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Dual Flavoured
12.6.2 Singular Flavoured
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Catering Industry
12.10.2 Domestic Place
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Dual Flavoured
13.6.2 Singular Flavoured
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Catering Industry
13.10.2 Domestic Place
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Sriracha Market: Competitive Dashboard
14.2 Global Sriracha Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 HUY FONG
14.3.2 Terrapin Ridge Farms
14.3.3 Trader Joes
14.3.4 Lee Kum Kee
14.3.5 THAITHEPAROS
14.3.6 Kosol-Ampa
14.3.7 Real Thai (Thaitan Foods)
14.3.8 Healthy Boy's
14.3.9 Santa Maria (Paulig Group)
14.3.10 Pantainorasingh Manufacturer
