![]() ![]() Despite the strong demand for cayenne pepper sauces, supply chain disruptions have delayed product processing, manufacturing, and increased demand-supply volatility. They are experimenting with different cuisines to bring out the joy of dining out at home as restaurants and cafes continue to remain closed amid the pandemic. This will certainly require serious efforts in the areas of innovation and technology upgrades. The sector is now reworking its current models to navigate the impacts of the COVID-19 pandemic. However, the shortage of raw materials and laborers has negatively affected the growth of the market in the initial few months. Additionally, people were advised to hoard essentials and packaged food products, positively affecting the global market. stated in an article that it has witnessed an increase in its sales and generated around USD 25 million in revenue in 2020, a sales growth of 400% since March 2020. According to one of the prominent hot sauce manufacturers, Truff in the U.S. ![]() ![]() The demand for the product increased in some countries as consumers were requested to quarantine at home, which gave them additional space to explore fresh cooking options. The ongoing pandemic affected businesses with varying intensities across different regions and various parts of the supply chain. Limited Availability of Raw Materials during COVID-19 Pandemic to Result in Sluggish Growth Moreover, the players operating in the market are increasing their presence on a global level, which is expected to positively impact the hot sauce market growth. They combine perfectly with various delicacies such as meat-based snacks, sweet & salty snacks, and others. Hot sauce is emerging as a widely accepted accompaniment to savory foods. The popularity of savory foods is growing tremendously among consumers worldwide, attributed to their unique umami flavors. The increasing globalization is the major factor driving the sales of condiments, spices, and sauces across the globe. The hot sauce market size was valued at USD 2.89 billion in 2022 and is projected to grow from USD 3.09 billion in 2023 to USD 5.09 billion by 2030, exhibiting a CAGR of 7.42% during the forecast period. ![]()
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