portland, OR, Aug. 25, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global pasta sauce market generated $3.10billion in 2018, and is estimated to reach $4.60billion by 2026, registering a CAGR of 5.8% from 2019 to 2026.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in demand for intercontinental cuisineacross the globe drivesthe growth of the global pasta sauce market.However,high costs associated with raw materials and processing restrain the market growth. Furthermore,increase in influence of western food in developing nations such as China and Indiais expected to provide new growth opportunitiesfor market playersin the near future.
Get detailed COVID-19 impact analysis on the Pasta Sauce Market @ https://www.alliedmarketresearch.com/request-for-customization/6388?reqfor=covid
Covid-19 scenario:
- Pasta saucemanufactrurersacross the globe have slowed down orhalted their productiondue to disrupted supply of raw materials amid the lockdown due to Covid-19 pandemic.
- The consumption of pasta sauce has been declined since the outbreak of Covid-19 as hotels and restaurants across the globe has been closed.
The report offers a detailed segmentation of the global pasta sauce market based ontype, distribution channel, and region.
Based on type, the red sauce segmentcontributed to the largest share in 2018, accounting fornearly one-fifth of the total share, and the white sauce segment is estimated to maintain its contribute the highest revenueby 2026. However, thevegetable sauce segmentis estimated to portray the highest CAGR of 6.1% during the forecast period.
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Based on distribution channel, the supermarkets/hypermarketssegmentaccounted for the largest share in 2018, holding more than one-thirdof the total share, and is expected to maintain the largest share throughout the forecast period. However,the online store segmentis expected to register the highest CAGR of 6.1% from 2019 to 2026.
Based on region,North America contributed the highest share, accounting formore than two-fifthsof the total market sharein 2018, and will maintain its dominance throughout the forecast period.However,LAMEAisexpected to grow at the highest CAGR of 4.9% from 2019 to 2026.
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Leading market players analyzed in the research include Barilla G. e R. Fratelli S.p.A, B&G Foods, Inc.,ConAgra Foods, Inc.,Campbell Soup Company, Lassonde Industries Inc., Del Monte Foods, Inc., Mizkan America, Inc.,Mars, Incorporated,The Kraft Heinz Company, and Premier Foods Group Limited.
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Global Pasta Sauce Market to Reach $4.60Billion by 2026: AMR - GlobeNewswire
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