Given the long periods of self-isolation and the closure of consumer foodservice operations during the COVID-19 epidemic, Spaniards have had little choice but to prepare more family meals at home in 2020. This is leading to strong growth for the vast majority of sauces, condiments and dressing, with the minor exception of salad dressings, which is set to witness a low decline in demand as more consumers opt for prepared salads, which often include a separate sachet of dressing.
Private label is set to retain and even extend its cumulative lead in 2020 as many consumers know these products and appreciate their lower prices during the financial restraints during the lockdown periods. However, consumer confidence in branded sauces, dressings and condiments is also increasing during the pandemic as many shoppers seek the quality reassurance offered by trusted brands, with the epidemic perhaps reinforcing this need among many.
Prior to the COVID-19 epidemic, the improving economic situation in Spain encouraged some consumers to opt for more premium sauces, dressings and condiments. There was strong demand for premium products which led to increasing average unit prices over the latter half of the review period.
After the strong growth enjoyed in 2020 as more consumers prepared their meals at home during the lockdown periods, sauces, dressings and condiments is expected to witness marginal declines in demand over the forecast period, with constant 2020 value growth beginning to slightly outperform volume performance only towards the end of the period. The innovation witnessed in this category prior to the COVID-19 epidemic involved reformulating recipes, as well as launching more gourmet and artisanal products.
Private label was already the leader in sauces, dressings and condiments at the end of the review period, although its value share had fluctuated slightly over the period. However, as household budgets are likely to be restrained for some time after the rigours of the COVID-19 pandemic, the trend to less expensive products will be an opportunity for private label retailers, such as Mercadona, to gain share.
As a result, sauces, dressings and condiments will likely be a more competitive area, at least until household budgets begin to recover. The large retailing chains will be keen to attract shoppers with low prices and offers, exerting pressure on manufacturers which will see their margins decline.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Sauces, Dressings and Condiments industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Sauces, Dressings and Condiments industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Sauces, Dressings and Condiments research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page