Salsa is generally a tomato-based sauce or dip which includes various ingredients such as onions, chilies, beans, corn, and various spices. It is the Italian and Spanish term for sauce, and also referred to the sauces typical of Mexican cuisine known as salsa picante, particularly those used as dips in English speaking countries. High application of salsa, dips & spreads for barbeque purpose and as marinades is one of the major reasons driving the sales of Salsa, Dips & Spreads across the regions. The sector is driven in a major way by the demand directed from the convenience food sector. High application of the product as a flavor enhances is one of the major drivers to the development of this segment. Growth of the convenience food market has also provided an impetus for the increased demand of this sector.
Urbanization leading to consumers demand for cross-regional cuisines is supporting the growth of this market on a global level. Changing product preferences, shifting demographics especially in developing countries coupled with evolving consumer attitudes and strong performance of foodservice industry and retail industry; the demand for Salsa, Dips & Spreads is growing. Rising demand for salsa, dips & spreads from the bakery and confectionery industry has also enhanced the market growth trajectory of the sector. Fast pace of lifestyle, increasing awareness about the variety of products available through product advertisements has significantly given a boost to the Salsas, Dips & Spreads market.
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Latest Industry Updates:
August 2017, Rojo’s, leading maker of refrigerated, restaurant-style salsas and dips, expanded its delicious product portfolio with an all-new line of Queso Dips which will be available in Salsa Con Queso and Queso Blanco varieties.
August 2016, Sabra Dipping Company, maker of America’s favorite hummus, launched Sabra Spreads, a line of fresh, wholesome, and refrigerated sandwich spreads.
Major Key Players Analysis:
The Salsa, Dips & Spreads market is found to be competitive with large number of established players in the market. The players are found to have indulged in rivalry wherein they fight in terms of quality of product they deliver to the consumers. In order sustain their consumer-base, manufacturers are identified to be investing hugely in the R&D sector to create product differentiation. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvisations and financial flexibility to invest in the optimal strategies.
The key players profiled in Salsa, Dips & Spreads market report are Frontera Foods Inc. (U.S.), Hot Sauce Harry’s (U.S.), Tostitos (U.S.), Sabra (U.S.), Ricos (U.S.), Arizona Spice Company (U.S.), Desert Pepper Trading Company (U.S.), Cornitos (India), Salsalito (India), and Britannia Foods (India) among many others.
The global Salsas, Dips & Spreads market has been divided into type, application, distribution channel and region.
On The Basis Of Product Type: Black Bean, Chipotle, Fruit, Corn, Tomato, Jalapeno and others
On The Basis Of Food Preference: Vegetarian and Non-vegetarian
On The Basis Of Distribution Channel: Store Based and Non-Store Based
On The Basis Of Flavor: Sweet, Savory and blends
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Salsa, Dips & Spreads Market is segmented into Europe, North America, APAC, and Rest of the World (RoW). Global Salsa, Dips & Spreads market is highly dominated by North America followed by Asia Pacific and Europe. Due to rising demand for flavored food and dips & spreads for food accompaniments, APAC is fastest growing region. The shift in consumers’ food consumption trend and improved disposable income in the region augment the market growth in Asia-Pacific region. The consumption of Salsa, Dips & Spreads in developing counties is expected to grow in upcoming years based on rising inclination of consumers towards uniquely flavored food products.
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