all report title image
  • Published On : Mar 2022
  • Code : CMI4970
  • Industry : Food and Beverages
  • Pages : 120
  • Formats :

The global worcestershire sauce market is estimated to surpass US$ 1,101.59 million by the end of 2028, in terms of revenue, exhibiting a CAGR of 4.5% during the forecast period (2021 to 2028).

Drivers

The health benefits associated with worcestershire sauce is expected to drive the market growth. Niacin (vitamin B3) from the anchovies present in the worcestershire sauce can help with joint mobility and for treating arthritis. Niacin is prescribed in high doses as anti-inflammatory drug to reduce symptoms of arthritis and reconstruct the joint cartilage which is critical for flexible mobility and strength. Onion and chili pepper extract in the worcestershire sauce contains thiamine, which helps the body cells change carbohydrates into energy. Thiamine helps in muscle contraction and conduction of nerve signals.

Among regions, North America held dominant position in the global worcestershire sauce market in 2020, reporting 41.9% market share in terms of revenue, followed by Latin America and Europe.

Figure 1. Global Worcestershire Sauce Market Revenue Share (%), By Region, 2020

Worcestershire Sauce  | Coherent Market Insights

Market Restraints

Threat of substitutes such as fish sauce and soy sauce is expected to hamper the market growth. Fish sauce can also be used as a substitute for worcestershire sauce. Fish sauce is a salty, funky, and slightly sweet condiment made from salted and barrel fermented anchovies. Worcestershire sauce also contains anchovies which makes fish sauce a perfect substitute for Worcestershire sauce. Vinegar-based sauces can also replace worcestershire sauce, as they are aged and fermented and can give same sweet and umami filled flavor as Worcestershire sauce.

Market Opportunities

Increasing demand for barbeque sauces is expected to provide market opportunity. Worcestershire sauce is used for making barbeque sauce. The increasing demand for barbeque sauce is expected to drive demand for worcestershire sauce during the forecast period. Growing demand for sauces with unique flavors is facilitating growth of the barbeque sauce market. Moreover, factors such as changing food consumption patterns and increasing disposable income are expected to drive the market growth.

CMI table icon

Worcestershire Sauce Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 805.60 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 4.5% 2028 Value Projection: US$ 1,101.59 Mn
Geographies covered:
  • Regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa 
Segments covered:
  • By Product Type: Certified Organic, Certified Gluten Free, and Certified Kosher
  • By End- use: Commercial and Residential 
Companies covered:

Hot Sauce Harry’s Inc., The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd.

Growth Drivers:
  • Rising demand for meat  
  • Health benefits associated with Worcestershire sauce
Restraints & Challenges:
  • Wide availability of substitutes

Figure 2. Global Worcestershire Sauce Market – Opportunity Analysis

Worcestershire Sauce  | Coherent Market Insights

Market Trends

The rising product launches containing worcestershire sauce is expected to drive the Worcestershire sauce growth over the forecast period. For instance, in May 2020, Seabrook Crisps Ltd, a U.K. based crisp brand, launched a range of crisps with Lea & Perrins worcestershire sauce flavor. The new crisp is available in 6*25 g multipack and 150g sharing bag. The product launch has helped Seabrook Crisps to expand its product portfolio. Moreover, in 2015, Walkers, a U.K. based snack food manufacturer, launched a range of cheese and Worcester sauce flavor crisps. The new product helped Walkers expand its product portfolio.

Figure 3. Global Worcestershire Sauce Market Revenue Share (%), By Product Type, 2020

Worcestershire Sauce  | Coherent Market Insights

On the basis of product type, certified kosher segment dominated the global worcestershire sauce market in 2020accounting for 43.5% of the market share, in terms of revenue.

Global Worcestershire Sauce Market - Impact of Coronavirus (COVID-19) Pandemic

Food being an essential commodity, the demand for food ingredients is expected to rise during the COVID-19 pandemic and post pandemic conditions, worldwide. The coronavirus (COVID-19) pandemic has majorly impacted the food & beverages industry and in turn, has changed the dynamics of entire ecosystem including raw material suppliers of food ingredients such as worcestershire sauce. Lockdown in various countries such as India, China, and Spain, among others and cease in the subsequent trade activities have paralyzed the supply chain.

Competitive Section

Key players operating in the global worcestershire sauce market include Hot Sauce Harry’s Inc., The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd.

The global Worcestershire sauce market is expected to exhibit a CAGR of 4.5% during the forecast period. Rising consumption of organic food products globally is supporting the growth of the certified organic segment. Moreover, due to the increasing demand for organic and vegan food products manufactures are launching organic and vegan products in the market.

Moreover, rising initiatives by key players is expected to booth the market growth. For instance, in 2017, McCormick acquired Reckitt Benckiser Group PLC’s Food Division. Through this acquisition the company aims to strengthen its product portfolio by including French’s and Franks’s RedHot brands to its product offerings

Among regions, Middle East and Africa is expected to grow at a significant rate during the forecast period (2021-2028), owing to the increasing meat consumption in the region which is expected to drive demand for the Worcestershire sauce over the forecast period. For instance, according to OECD (The Organization for Economic Co-operation and Development) – FAO (Food and Agriculture Organization of the United Nations) Agricultural Outlook 2020, meat consumption in Saudi Arabia was pegged at 1,293.8 thousand tons in 2017, which increased to 1,355.1 thousand tons in 2019. Moreover, according to same source, meat consumption in South Africa was pegged at 2,150.7 thousand tons in 2017, which increased to 2,257.9 thousand tons in 2019.

Key features of the study:

  • This report provides in-depth analysis of global worcestershire sauce market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global worcestershire sauce market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Major players operating in the global worcestershire sauce market include Hot Sauce Harry’s Inc., The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology upgradation, market expansion, and marketing tactics
  • The global worcestershire sauce market report caters to various stakeholders in this industry including investors, suppliers, Worcestershire sauce manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global worcestershire sauce market

Detailed Segmentation:

  • Global Worcestershire Sauce Market, By Product Type:
    • Certified Organic
    • Certified Gluten Free
    • Certified Kosher
  • Global Worcestershire Sauce Market, By End-use:
    • Commercial
    • Residential
  • Global Worcestershire Sauce Market, By Region:
    • North America
      • By Product Type
        • Certified Organic
        • Certified Gluten Free
        • Certified Kosher
      • By End-use:
        • Commercial
        • Residential
      • By Country
        • Canada
        • U.S.
    • Europe
      • By Product Type
        • Certified Organic
        • Certified Gluten Gree
        • Certified Kosher
      • By End-use Industry:
        • Commercial
        • Residential
      • By Country
        • U.K.
        • Italy
        • France
        • Germany
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • Certified Organic
        • Certified Gluten Gree
        • Certified Kosher
      • By End-use:
        • Commercial
        • Residential
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • Certified Organic
        • Certified Gluten Free
        • Certified Kosher
      • By End-use:
        • Commercial
        • Residential
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type
        • Certified Organic
        • Certified Gluten Free
        • Certified Kosher
      • By End-use:
        • Commercial
        • Residential
      • By Sub Region:
        • Middle East
        • Africa
  • Company Profiles
    • Hot Sauce Harry’s Inc.*
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • The Kraft Heinz Company
    • McCormick & Company Inc.
    • Sempio Food Company
    • Delmaine Foods
    • Edward & Sons Trading Co.
    • Cajun Powder Sauce
    • General Mills Inc.
    • Bull-Dog Sauce Co. Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global worcestershire sauce market is estimated to surpass US$ 1,101.59 million by 2028 and is expected to exhibit a CAGR of 4.5% between 2021 and 2028.
Increasing demand for meat based products are expected to drive growth of the global market.
Increasing worcestershire based product launches is one of the trends in the global market. 
Availability of various substitutes is expected to hamper the global market growth.
Major players operating in the market include Hot Sauce Harry’s Inc., The Kraft Heinz Company, McCormick & Company Inc., Sempio Food Company, Delmaine Foods, Edward & Sons Trading Co., Cajun Powder Sauce, General Mills Inc., and Bull-Dog Sauce Co. Ltd.
The market was valued at US$ 805.60 million in terms of revenue, in 2021

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo