Surge in demand for lip-smacking food products from all across the globe is expected to play key role in the expansion of the global pasta sauce market, states a study by Transparency Market Research (TMR). Thus, the market is projected to expand at a CAGR of 6.5% during the forecast period 2018-2028.
The study presented in the TMR research report gives comprehensive data and analysis of many important facets such as drivers, restraints, challenges, and growth opportunities in the pasta sauce market. Thus, this report works as a dependable guide to gather major data on the market for pasta sauce.
Pasta sauce is gaining popularity owing to its lip-smacking taste and palatability. With surge in demand for pasta across the globe, there is significant growth in the demand for pasta sauce. Major pasta sauce producers are investing money and time in the development of innovative products in order to fulfill the present consumer demands. Surge in the launch of products that are manufactured using gluten-free, organic, and non-GMO ingredients is an example of current innovations in the market.
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Products from the global pasta sauce market are available in different packaging options such as glass bottles, cans, cartoons, and pouches. With a surge in number of consumer pool vigilant about the safety, wellness, health, and sustainability, major market players are increasing incorporation of robotics and advanced sensors in the procedures associated with pasta sauce processing as well as packaging.
Several manufacturers have started using varied advanced technologies such as RFID, which help in product traceability as well as keep a tap of many other important components such as temperature, humidity, and pressure during product transportation.
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The incorporation of automation in various production activities has resulted into minimum human contact with products, and thereby ensuring almost 100% contamination-free packaging and processing of pasta sauce.
Enterprises Engage in Acquisition Activities to Expand Their Businesses
Some of the key players operating in the global pasta sauce market are Barilla S.p.A., Mizkan Co., Hunts (ConAgra Foods, Inc.), Dolmio (Mars Inc.), Newman Own Co., The H. J. Heinz Company, CSC Brand LP, B&G Foods Holdings Corp., Lassonde Specialties Inc., Premier Foods plc., Pellicanos Specialty Foods, Giovanni Food Company, Inc., Delgrosso Foods Inc., Vino De Milo, Monterey Gourmet Foods, Nature’s Sun Grown Foods, Inc., Nellino’s Sauce Co., and Dave’s Gourmet Inc.
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The presence of many players makes the competition levels in the pasta sauce market highly intense. Enterprises are utilizing varied strategies such as new product launches and R&D projects to stay ahead in the competition. Of all strategic moves, acquisition seems to be one of the prominent strategies used by companies. The strategy is helping players from the global pasta sauce market to capitalize the existing brand image of acquired companies in the regional markets.
Asia Pacific: Prominent Region for Market Expansion
Asia Pacific, North America, Europe, Middle East and Africa, and Latin America are key regions for the global pasta sauce market. Of them, Asia Pacific is one of the prominent regions that offers lucrative avenues for the market.
Players are estimated to observe substantial revenue prospects in Asia Pacific pasta sauce market owing to many factors including improved disposable income of regional population and existence of many flavor inspirations in the region.
Global Pasta Sauce Market Segmentation
The report on the global pasta sauce market is presented in the form of different segments, which are based on several crucial aspects including nature, product type, packaging type, distribution channel, and region. Based on product type, the market for pasta sauce is classified into pesto-based sauces, tomato-based sauces, and alfredo-based sauces. In terms of nature, the pasta sauce market is divided into two parts, namely, organic and conventional.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Pasta Sauce Market (Nature – Organic, Conventional; Product Type – Tomato-based Sauces, Pesto-based Sauces, Alfredo-based Sauces; Packaging Type – Glass Bottles, P.E.T., Cans, Pouches, Cartons; Distribution Channel – Direct, Indirect, Online Retailing) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028.”
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