Global Pesto Sauces Market 2018-2022 | Increasing New Product Launches to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 27, 2018-- analysts forecast the global pesto sauces market to grow at a CAGR of close to 4% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global pesto sauces market for the period 2018-2022. (Graphic: Business Wire)
The expanding retail space is one of the major trends being witnessed in the . The most common distribution formats of pesto sauces are the supermarkets and hypermarkets, convenience stores, discount stores, and online portals. E-commerce as a sales medium for pesto sauces is gaining popularity among consumers and is expected to contribute to the growth of the market. The sale of these products through various e-commerce portals such as Amazon and others is increasing as several consumers prefer to cook at home and are looking at products online to make cooking more convenient.
According to Technavio analysts, one of the key factors contributing to the growth of the global pesto sauces market is the new product launches:
Global pesto sauces market: Increasing new product launches
One of the drivers for the global pesto sauces market is the increasing launch of a number of new products by players. Successful new product launches will help increase the revenue flow and the market share of players. Also, new product launches will help in keeping the interest of players alive in the market. In June 2018, Saclà launched a new pesto flavor in the UK market. The new flavor, nduja, is a spicy version of Italian salumi made with selected cuts of pork and combined with Calabrian chilies and salt. The new product was launched in Tesco and Waitrose stores. Therefore, the increasing new product launches in the market will help in the growth of the global pesto sauces market during the forecast period.
According to a senior analyst at Technavio, “The increased demand for convenience in food preparation among consumers is one of the drivers for the global pesto sauces market. Today’s hectic lifestyles and the need for leisure have further increased the demand for convenient food products. This has led manufacturers to introduce sauces and seasoning products that save time in the kitchen and are easy to use. The number of consumers who prefer to cook than eating outside is on the rise and is expected to further increase diming the forecast period. This will also help increase the demand for food ingredients such as pesto sauces.”
Global pesto sauces market: Segmentation analysis
The global pesto sauces market research report provides market segmentation by end-user (foodservice and retail), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 54% share, followed by the EMEA and APAC respectively. However, during the forecast period, the EMEA region is expected to register the highest incremental growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES RETAIL FOOD/BEVERAGE
SOURCE: Technavio Research
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PUB: 12/27/2018 11:03 AM/DISC: 12/27/2018 11:03 AM