Rising number of QSRs boosting the demand for Chinese, Hot and Barbeque Sauces in India- Actual Market Research
Jul, 02

371 view

Rising number of QSRs boosting the demand for Chinese, Hot and Barbeque Sauces in India- Actual Market Research


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. _x000D_
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. _x000D_
According the report on 'India Chinese, Hot and Barbeque Sauces Market Outlook, 2023' published by Actual Market Research, 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._x000D_
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. _x000D_
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._x000D_
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. _x000D_
Major Companies_x000D_
Major companies that operate into the Chinese, Hot and Barbeque Sauces market in India are Capital Foods Pvt. Ltd. (Ching?€™s Secret), FieldFresh Foods Pvt.Ltd. (Del Monte), Dr. Oetker India Pvt. Ltd. (Funfoods), Veeba Food Services Pvt. Ltd., Cremica Food Industries Limited, Bajoria Foods (American Garden), Scandic Food (Sil), WeikField Foods Pvt. Ltd., Instar Foods (Posh Nosh), Wingreen Farms Pvt. Ltd., etc. _x000D_
Report: India Chinese, Hot and Barbeque Sauces Market Outlook, 2023_x000D_
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23_x000D_
Pages: 115, Figures: 28, Tables: 24_x000D_