While the food industry is growing overall, sauces have managed to outperform the whole lot, according to a new report from Mintel International Group, Chicago, on the U.S. table sauces market. The sector accounted for nearly $3 billion in sales in 2001 and is poised to continue strong growth over the next five years.
With inflation-adjusted growth averaging 3.2% annually over the past five years, table sauce sales are well ahead of the overall food price trend, which is closer to 2.5%. Unit sales of table sauces have grown an average of only 1.5% per year. Thus, the industry has been successful in increasing prices.