PROSPECTS AND OPPORTUNITIES
Rising demand for healthier sauce and dip options
In response to growing health awareness, consumers are increasingly gravitating towards low sugar and low sodium sauce and dip options. This trend reflects a broader shift towards healthier eating habits, as individuals become increasingly conscious of the negative health impacts associated with excessive sugar and sodium intake, such as obesity, hypertension, and heart disease.
Future development of vegetarian options
The trend towards vegetarianism and plant-based diets in Hong Kong is set to gain further momentum in the coming years. Restaurants are adapting their menus to include a variety of enticing plant-based choices.
Lee Kum Kee likely to retain convincing leadership with wide portfolio and innovation
Lee Kum Kee (HK) Foods Ltd is likely to retain its overall leadership of sauces, dressings and condiments in Hong Kong over the forecast period, especially as it continued to gain value share towards the end of the review period. The player is supported by a wide portfolio and continuous product development to include sauces that have been developed to emulate restaurant-style flavours for at-home consumption, such as Buffalo Wing Sauce, vegetarian options, and expanding its range of chili sauces in an attempt to gain share from its closest competitor Koon Yick.
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Overview:
Understand the latest market trends and future growth opportunities for the Sauces, Dips and Condiments industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Sauces, Dips and Condiments industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Sauces, Dips and Condiments in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Sauces, Dips and Condiments in Hong Kong, China?
- Which are the leading brands in Sauces, Dips and Condiments in Hong Kong, China?
- How are products distributed in Sauces, Dips and Condiments in Hong Kong, China?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Sauces, Dips and Condiments?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Hong Kong, China?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Sauces, Dips and Condiments in Hong Kong, China - Category analysis
KEY DATA FINDINGS
Sales adversely impacted by greater mobility and trend of “travelling north”
Recipe sauces attract consumers searching for convenience
Flavour diversification of chili sauces
Rising demand for healthier sauce and dip options
Future development of vegetarian options
Lee Kum Kee likely to retain convincing leadership with wide portfolio and innovation
Cooking Ingredients and Meals in Hong Kong, China - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Sauces, Dips and Condiments
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
Sauces, Dips and Condiments
This is the aggregation of cooking ingredients and condiments, dips, pickled products, sauces, yeast-based spreads, and other sauces, dips and condiments. Excludes: Unpackaged/bulk sauces, dressings and condiments, such as unpackaged herbs and spice or instances where consumers bring an empty contained to be (re)filled. Excludes: Table salt, vinegar, baking ingredients, desiccated coconut, and cooking cream/milk/powder for cooking and baking.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
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This report originates from Passport, our Sauces, Dips and Condiments research and analysis database.
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