The Chinese, Hot, & BBQ Sauces Market in India 2018-2023 - Ching's Secret, Del Monte, and Funfoods Smother the Competition with More Than 70% Shares
DUBLIN, July 27, 2018 /PRNewswire/ --
The "India Chinese, Hot & BBQ Sauces Market Outlook, 2023" report has been added to ResearchAndMarkets.com's offering.
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.
Rising number of QSRs are boosting the demand for Chinese, Hot and Barbeque Sauces in India.
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, 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.
Key Topics Covered
1. Executive Summary
2. India Table Sauces Market Outlook
2.1. Market Size By Value
2.1.1. Overall Market
2.1.2. Organized Table Sauce Market
2.1.3. Unorganized Table Sauce Market
2.1.4. By Type of Table Sauces (28 different sauces)
2.2. Market Share
2.2.1. By Company
2.2.2. By Category
3. India Chinese, Hot& BBQ Sauces Market Outlook
3.1. Market Size
3.2. Market Share
3.2.1. By Company
3.2.2. By Product Type
3.2.3. By Retail Vs. Institutional
3.2.4. By Organized Vs. Unorganized
4. India Chinese Sauces Market Outlook
4.1. Market Size By Value
4.1.1. Overall Market (Organized Vs. Unorganized)
4.1.2. Overall Market (By Product Type)
4.2. Market Share
4.2.1. By Product Type
4.2.2. By Retail Vs. Institutional
4.3. Product Price & Variant Analysis
5. India Hot Sauces Market Outlook
5.1. Market Size By Value
5.1.1. Overall Market (Organized Vs. Unorganized)
5.1.2. By Product Type
5.2. Market Share
5.2.1. By Product Type
5.2.2. By Retail Vs. Institutional
6. India BBQ Sauces Market Outlook
7. Product Price & Variant Analysis
8. India Economic Snapshot
9. Policy & Regulatory Landscape
10. PEST Analysis
11. Chinese & Hot Sauce Market Trade Dynamics
11.1. Imports
11.2. Export
12. Channel Partner Analysis
13. Chinese &Hot Sauce Market Dynamics
13.1. Key Drivers
13.2. Key Challenges
14. Chinese & Hot Sauce Market Trends & Developments
14.1. Rising Specialized Restaurants
14.2. Increasing Trend of Chinese Dishes in Traditional Occasions
14.3. Growing Craze of Indian Chinese Cuisines
15. Competitive Landscape
15.1. Porters Five Forces
15.2. Company Profile
15.2.1. Bajoria Foods Pvt. Ltd
15.2.2. Capital Foods Private Limited
15.2.3. Cremica Food Industries Limited
15.2.4. Dr. Oetker India Pvt Ltd
15.2.5. Fieldfresh Foods Pvt Ltd
15.2.6. Scandic Food India Private Limited (Sil)
15.2.7. Veeba Food Services Private Limited
15.2.8. Weikfield Foods Pvt. Ltd
15.3. Company Overview
15.3.1. Posh Nosh Foods
15.3.2. Wingreens Farms Private Limited
16. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/research/j85jds/the_chinese_hot?w=5
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