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A15895 | Pages: 245 | Charts: 60 | Tables: 152 |
The global jalapeno salt market was valued at $965.10 million in 2020, and is projected to reach $1.8 billion by 2030, growing at a CAGR of 6.6% from 2021 to 2030.
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Increase in popularity of jalapeno salt in fast food restaurants, also known as quick service restaurants (QSRs), boosts growth of the global jalapeno salt market. Among emerging economies, China, India, and Brazil dominate, in terms of fast food consumption, owing to their large population base and growth in number of QSRs such as McDonalds, Burger King, Wendy’s, and Subway. The business of QSR chains in India is expected to grow eight-fold, owing to rise in disposable income and increase in urbanization, thereby, increasing consumption of fast food, which directly contributes toward growth of the jalapeno salt market. According to the India Brand Equity Foundation (IBEF), by 2025, about 530 million people in India are expected to reside in urban areas, which offer an attractive opportunity toward global QSR chains. Thus, growth in urban population across the globe is expected to present a potential opportunity for manufacturers of jalapeno salt.
Convenience foods refer to products, which require minimal processing and can be prepared easily without much efforts. Preference for on-the-go food products, which are readily available in the market has increased, owing to changes in eating habits and busy lifestyle. For instance, availability of various jalapeno salt flavor in the market to make sandwiches, burger, and pizza at home easily without much efforts significantly contributes toward growth of the jalapeno salt market. Moreover, easy availability of convenience foods on online and offline platforms help in increasing consumer base for the jalapeno salt market.
The jalapeno salt industry is segmented on the basis of flavors, end user, distribution channel, and region. On the basis of flavor, the jalapeno salt market is divided into lime, garlic, bacon, and sea salt. By end user, it is divided into residential, food service, and food processing. On the basis of distribution channel, it is categorized into business-to-business and business-to-consumer. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
By flavor, the lime segment constitute a major jalapeno salt market share; however, the bacon segment is projected to experience growth at the highest CAGR during the forecast period. Lime flavored jalapeno is highly utilized in processed food majorly in the chips. In addition, lime jalapeno salt is also sprinkled over homemade tortilla chips to give food a refreshing lime flavor with a touch of spiciness Therefore, owing to the above-mentioned factors, demand for lime flavored jalapeno salt growing.
By end user, the food service segment lead in terms of market share and is expected to continue to grow with robust CAGR during the forecast period.
On the basis of distribution channel, the market is categorized into business-to-business and business-to-consumer. The business-to-business segment held major share in the market, and is projected to remain dominant during the forecast period. The major factor driving growth for business-to-business jalapeno salt sales is the rising outdoor dining trend among consumers.
By region, North America accounted for highest jalapeno salt market size in 2020, and is expected to grow at a significant CAGR during the jalapeno salt market forecast period.
Key players profiled in the report are Anheuser-Busch InBev, Beijing Enterprises Holdings Limited, Carlsberg Group, Diageo PLC, Dogfish Head Craft Brewery, Inc, Heineken Holding NV., Squatters Pubs and Craft Jalapeno salts, Sierra Nevada Brewing Co., The Boston Jalapeno Salt Company, Inc, and United Breweries Limited
Key Market Segments
Key Market Players