Industry Analysis & Industry Trends
Operators in the Seasoning, Sauce and Condiment Production industry produce items such as mayonnaise, dressing, spices, extracts and dry food mixes using a variety of ingredients. Industry revenue grew over the past five years, supported by a strengthening domestic economy and disposable income levels, which allowed consumers to trade up to branded and premium goods. However, habits formed during the recession carried on throughout this five-year period, exhibited by the strength of generic brands. Furthermore, the industry is projected to grow modestly over the next five years. This is because as the economy continues to recover, household disposable income is expected to rise, causing demand for industry products to grow at the retail level... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Seasoning, Sauce and Condiment Production industry is in the mature stage of its life cycle. Over the 10 years to 2019, industry value added (IVA), which measures an industry's contribution to the economy, is forecast to increase an annualized 1.5%. On the other hand, GDP is projected to grow 2.7% per year on average during the same period. Along with the industry's IVA, other factors such as the level of product innovation, mergers and acquisition activity and market acceptance of industry products point to the industry's maturity.
Given the limited opportunities for growth, operators stimulate demand by introducing new products. However, these new spices and sauces are generally not new products themselves, but rather incorporate new flavor combinations and packaging... purchase to read more