Buoyancy in the restaurant industry and extensive restaurant chains of Asian cuisine is set to drive the oriental sauce market. With an aim to stand out in the extensive competition of the restaurant industry, stakeholders are introducing Asian food menus, thereby driving demand for oriental sauces. In particular, increasing appetite for oriental flavors among Generation X and millennials is expected to ensure sustainability of the oriental sauce market. Discriminating palate of this population with a craving for spicy and bold flavors is satiated by Asian cuisine, in turn, driving the demand for oriental sauces.
The dominance of Chinese and Japanese cuisine across world regions and evolving taste for other Oriental cuisines such as Korean, Indian, Thai, Vietnamese and Malaysian are further propelling the demand for oriental sauces. Application of oriental sauces in Western and other cuisines to achieve a specific taste also increasing the popularity of oriental sauce across world regions.
Globalization of Asian Cuisine and Product Innovations: Important Influencers of the Global Oriental Sauce Market
The growth of the global oriental sauce market is projected to be influenced by macro- as well as micro-economic factors. Globalization has intensified the presence of Asian food across the globe. Migration of Asian population in almost every world region is another important factor responsible for the increased global popularity of the oriental cuisine. Further, advances in food packaging industry, as well as food processing, have assisted manufacturers to introduce novel products in the global market. Based on this, the market for oriental sauce is estimated to grow steadily in the coming future.
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Product Innovations to Attract Huge Consumer Pool
With the increased appetite for multicultural cuisine, consumers consistently are seeking for novel tastes. To accommodate this, food company giants are experimenting combination of recipes. With the help of product designers and packaging solutions, manufacturers have introduced a range of ready-to-serve oriental sauces.
Further, with the implementation of food processing and preservation technologies, food specific oriental sauces, for instance, fish oriental sauce, chicken oriental sauce, vegetable oriental sauce, and many more are available. All-purpose sauce is another new entrant in the oriental sauce market which is attracting consumers who regularly consume oriental sauce in various food preparations. Such different and novel product introductions are likely to enhance growth of the global oriental sauce market.