11 May Dips and Sauces Market in INDIA

India’s sauces and condiments are steadily growing their share in the global market, with a focus on exports. In recent years, the country has seen a surge in the export of sauces, including soy sauce, tomato ketchup, mayonnaise, salad dressings, and mixed seasonings. Revenue in the Sauces & Condiments market amounts to US$31.60bn in 2024. The market is expected to grow annually by 8.02% (CAGR 2024-2028).

In global comparison, most revenue is generated in China (US$46bn in 2024).

This highlights a growing trend in preference for Indian producers in this segment. The export growth is complemented by the nation’s rich spice sector, which has contributed substantially to the economy.

The category of sauces and condiments encompasses a very diverse range of a mixture of ingredients that enhance the taste, aroma, and overall culinary experience of food. If we refer with respect to India, this category can include several subcategories.

Spices and herbs are basic elements in Indian cuisine, providing a rich and complex flavor profile to various dishes. Common examples include turmeric, cumin, coriander, cardamom, and fenugreek, among others. On the other hand, seasonings refer to a mixture of herbs and spices that are specifically designed to complement different types of cuisine and are sprinkled on top of the final product.

The sauces and dips market in India has been experiencing significant growth, driven by various factors such as urbanization, increasing disposable incomes, changing lifestyles, and a growing preference for international cuisines.

According to reports from market research firms like Euromonitor International and IMARC Group, the Indian sauces and dips market is expected to continue expanding in the coming years. Key players in the market include both domestic and international brands, offering a wide range of products to cater to diverse consumer preferences.

The market can be broadly divided into various categories

• Tomato ketchup – It is the most consumed flavoured sauce across the country. There are multiple MNCs operating their brands since more than 3 decades.
• Mayonnaise: Mayonnaise consumption has been on the rise, driven by factors such as increasing adoption in homemade recipes, the growing popularity of fast food, and the influence of international cuisine.
• Hot Sauces: Hot sauces, like chili sauce and salsa, have gained popularity among the young Indian consumers, who are looking to experiment with adventurous flavours.
• Ethnic Sauces: With more and more exotic restaurants opening up in metro cities and urban areas, there is a growing demand for ethnic sauces such as Thai, Mexican, Chinese, Korean and Italian sauces in the B2B as well as the B2C sector.
• Dips: This is the most popular category right now in high income areas across the country. Dips, including flavours like cheese, hummus, and guacamole, have witnessed rising demand, driven by the growing trend of snacking and the popularity of party food. There are a lot of new age startups working in this category.

The market is witnessing innovation in terms of flavours, packaging formats, and health-conscious offerings to cater to evolving consumer preferences. Additionally, factors such as increasing online retail penetration and the expansion of organized retail chains and supermarkets are also contributing to the growth of the sauces and dips market in India. The market for healthy dips, sauces is only going to go on a upward trend from here. Efforts, however, will have to be made to extend their shelf life