$2.7bn
$XX.Xm
5,016
387
$XXX.Xm
Hot sauce producers make spicy sauces made of chili peppers and other ingredients, which they then sell to retailers, wholesalers and other food manufacturers. Positive demographic consumption trends and a growing assortment of product varieties have boosted hot sauce demand through 2024. Although the domestic market has become somewhat saturated, the popularity of spicy food has continued to grow. The industry will expand at an expected CAGR of 2.7% to $2.7 billion over the five years to 2024, including a 0.9% jump in 2024. Even so, rising competition and swelling wage costs characterize the industry, limiting profit to 3.6% in 2024.
Industry revenue has grown at a CAGR of 2.7 % over the past five years, to reach an estimated $2.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
McIlhenny Company | 249.0 | 46.6 | 18.7 | |
Mccormick & Co Inc. | 154.0 | 44.1 | 28.6 | |
Huy Fong Foods Inc. | 130.9 | 22.3 | 17.0 |
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Industry revenue is measured across several distinct product and services lines, including Hot, Medium and Mild. Hot is the largest segment of the Hot Sauce Production in the US.
Mild hot sauce sales increased during the pandemic
The Hot Sauce Production industry manufactures spicy sauce made from chili peppers and other ingredients. These products are then packaged and sold directly to consumers or distributed to grocery wholesalers, supermarkets, specialty food stores and food service contractors. This industry excludes producers of pre-made salsa and paste-style products such as hot curry or chili pastes.
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NAICS 31194 - Hot Sauce Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The industry's rapid growth has encouraged new producers to enter at a torrid rate. Ballooning price competition has prevented hot sauce producers from expanding profit.
Learn about an industry's products and services, markets and trends in international trade.
Smaller companies can't acquire prime shelf space with grocery stores and supermarkets. Major producers leverage their brand and reputation into favorable contracts with down...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Producers seek lower transportation costs. Companies will position themselves near well-established infrastructure and trade routes.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Producers must maintain strong relationships with the entire supply chain. Prices of key inputs can fluctuate violently, and store shelf spaces are extremely limited.
Learn about the performance of the top companies in the industry.
Successful producers are constantly adding new options through consolidation or product innovation. Companies are expanding with Latin American- and Asian-inspired hot sauces...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Producers follow strict FDA guidelines on labeling and product content. Recalls and false content claims can prove ruinous for a producer's reputation.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Hot sauce producers hire skilled labor for research and development divisions, leading to higher wage costs compared with similar food processors. Branding and product innova...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Hot Sauce Production in the US industry in United States is $2.7bn in 2024.
There are 387 businesses in the Hot Sauce Production in the US industry in United States, which has grown at a CAGR of 6.1 % between 2019 and 2024.
The market size of the Hot Sauce Production in the US industry in United States has been growing at a CAGR of 2.7 % between 2019 and 2024.
Over the next five years, the Hot Sauce Production in the US industry in United States is expected to grow.
The biggest companies operating in the Hot Sauce Production market in United States are McIlhenny Company, Mccormick & Co Inc. and Huy Fong Foods Inc.
Developing hot sauce and Producing hot sauce are part of the Hot Sauce Production in the US industry.
The company holding the most market share in United States is McIlhenny Company.
The level of competition is high and increasing in the Hot Sauce Production in the US industry in United States.