Seasoning, Sauce and Condiment Production in Canada - Industry Market Research Report

Sauced up: Industry revenue will likely remain steady as more consumers regularly purchase organic

The Seasoning, Sauce and Condiment Production industry in Canada has experienced growth over the five years to 2023, despite mixed demand from grocery stores and food service providers for industry products. Rising per capita disposable income has permitted consumers to trade up to premium and more expensive brands, while increasing health consciousness has curbed demand for most industry products high in sodium and calories. At the same time, the depreciation of the Canadian dollar prior to the COVID-19 pandemic made industry goods more affordable in foreign markets, increasing exports and buoying revenue. Overall, revenue is expected to grow at a CAGR of 4.5% to $2.3 billion over the five years to 2023, including an expected 0.4% growth in 2023 alone. The industry's essential standing also prevented revenue declining amid the coronavirus pandemic in 2020. This industry manufactures products such as mayonnaise, dressings, spices, extracts and dry food mixes from a variety of ingredients. Industry products are sold to downstream wholesalers, food manufacturers and retail markets. Ketchup and other tomato-based sauces are excluded, as they are part of the Canned Fruit and Vegetable Processing industry in Canada. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.