Global Barbecue Sauce Market 2019-2023 | Expansion Through E-Commerce to Promote Growth
(prsubmissionsite) November 14, 2019 –The global barbecue sauce market is expected to post a CAGR of nearly 4% during the period 2019-2023, according to the latest market research report by Technavio. A key factor driving the growth of the market is the increasing preference for convenience in cooking. At present, hectic lifestyles and the need for leisure has led to an increase in demand for convenience food products. Manufacturers are introducing various sauce and seasoning products that save time and are easy to use. The number of consumers who prefer homecooked food over dining out is increasing and is expected to grow further during the forecast period. This will drive the demand for food ingredients such as barbecue sauces during the forecast period.
As per Technavio, the expansion through e-commerce will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global barbecue sauce market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global barbecue sauce market: Expansion through e-commerce
Globally, the expanding retail space is one of the positive trends, which will influence the growth of the global barbecue sauce market during the forecast period. Supermarkets and hypermarkets, convenience stores, and discount stores are the most common distribution formats of barbecue sauces. Additionally, sales through online portals are gaining popularity among consumers, which will contribute to the growth of the market during the forecast period.
“The traditional sales channel for barbecue sauces has always been the supermarkets, hypermarkets, and convenience stores. Over the past few years, retail chain sales of these products have been increasing which will encourage market growth. The sale of barbecue sauces through the supermarkets and hypermarket is also increasing as consumers prefer homecooked food over eating out and also search for products that make cooking more convenient,” says a senior analyst at Technavio for research on packaged foods & meats.
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Global barbecue sauce market: Segmentation analysis
This market research report segments the global barbecue sauce market by product (conventional barbecue sauce and organic barbecue sauce) and geographical regions (APAC, EMEA, and the Americas).
The conventional barbecue sauce segment held the largest market share in 2018, accounting for over 84% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of over 44%. This region is expected to dominate the market through 2023, however there will be a small decrease in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
· Market ecosystem
· Market characteristics
· Market segmentation analysis
· Market definition
· Market size and forecast
Five Forces Analysis
· Regional comparison
· Key leading countries
· Vendors covered
· Vendor classification
· Market positioning of vendors
· Competitive scenario
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