Global Hot Pot Condiment Market - Forecast(2023 - 2028)

Report Code: FBR 35154 Report Format: PDF + Excel

Global Hot Pot Condiment Market Overview

The Global Hot Pot Condiment Market size is estimated to reach $12.3 Billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.9% over the forecast period of 2022-2027. The term "hot pot" refers to a cooking style that originated in China. A pot of simmering hot soup is maintained at the table in this approach. At the table, food is dipped in the stock and cooked. Soup meals or steamboats are other names for hot pot. Any broth, spices, flavorings, or sauces that can be added to the boiling soup to enhance the flavor are referred to as Hot Pot Condiments. Hot pot has become an everyday necessity, and the demand for hot pot condiments is growing and driving the Global Hot Pot Condiment industry. As a result, many hot pot restaurants will opt to acquire the condiment straight from the manufacturer or have it processed by the manufacturer. Naturally, there is a slew of companies that process hot pot materials. Hot pot condiments are a kind of specialty food and in various cultures, condiments are applied to the food to garnish the dish. Monosodium glutamate doubles the freshness and flavor of food in condiment. Hot pot condiment contains ferric pyrophosphate and ferrous fumarate that helps to prevent anemia in patients. Hot pot condiment has a super long shelf life which helps to store for a maximum number of days. Rising trends of consuming all types of cultural dishes among consumers help to surge the demand for hot pot condiments are some of the factors enhancing the Global Hot Pot Condiment industry outlook forward in the projected period of 2022-2027.

Global Hot Pot Condiment Market Report Coverage

The report: “Global Hot Pot Condiment Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Global Hot Pot Condiment Market.

By Type- Solid, Liquid, and Powder.

By End-User- Household and Commercial.

By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, Asia-Pacific held a dominant market share in the year 2021. It is owing to the increasing number of restaurants offering different cultures of dishes that gives rise to the demand for hot pot condiments. Moreover, many tourists are also demanding to consume the special food of particular culture which further rising the adoption of hot pot condiment in recent years.
  • The robust growth in the end-use industries such as household and commercial are some of the factors driving the global hot pot condiment Market. However, stringent government regulations are some of the factors impeding market growth.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Hot Pot Condiment Market Report.

    Global Hot Pot Condiment Market- Geography (%) for 2021


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Global Hot Pot Condiment Market Segment Analysis- By Type

The hot pot condiment market based on type can be further segmented into Solid, Liquid, and Powder. Solid held a dominant market share in the year 2021. Solid condiments are mostly available in the form of cubes which are made from liquid broth and are much more concentrated in flavor. People are getting attracted with the help of this flavor and thus roses the demand for solid condiments while making hot pot dishes.

However, Powder is estimated to be the fastest-growing, with a CAGR of 6.7% over the forecast period of 2022-2027. Recently, the consumption of spicy food becomes popular day by day as many people are now looking for hot spicy flavors. In China, the consumption of spicy dishes increases rapidly which gives rise to the use of hot pot condiments in various commercial sectors. Also, consumers adopting it in their everyday meals surges the demand for hot pot condiments in the household sector.

Global Hot Pot Condiment Market Segment Analysis- By End-Users

The hot pot condiment market based on end-users can be further segmented into Household and Commercial. Commercial held a dominant market share in the year 2021. Rising number of restaurants and the growing trend of consuming outside food are some factors that help in increasing the use of hot pot condiments in the commercial sector. Moreover, the growing number of tourists increases the number of commercial places where a variety of dishes are available. This gives rise to the demand for hot pot condiments in the commercial sector.

However, Household is estimated to be the fastest-growing, with a CAGR of 7.1% over the forecast period of 2022-2027. Rising trends of making outside dishes in homes help in surging the consumption of hot pot condiments. Many people are now demanding spicy dishes regularly owing to changing taste buds as spicy. This factor helps in soaring the market growth.

Global Hot Pot Condiment Market Segment Analysis- By Geography

The global hot pot condiment market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 37% in the year 2021 as compared to its other counterparts. It is owing to the increasing number of restaurants offering different cultures of dishes that gives rise to the demand for hot pot condiments. Moreover, many tourists are also demanding to consume the special food of particular culture which is further rising the adoption of hot pot condiment in recent years. In China, consumption of hot pot condiments increases rapidly and 1 million people in China are consuming spicy dishes as people are shifting towards spicy flavors so manufacturers are also increasing the product launches of spicy dishes. 

Global Hot Pot Condiment Market Drivers  

Rising trends of adopting different cultures give rise to the intake of hot pot condiments that have readily aided the market growth.

The globe has become a small village as a result of globalization. People from many countries and cultures have become more open to trying the foods of other cultures. As a result, not just Asian countries, but also North America and Europe, are driving demand for hot pot condiments. People have become more interested in other cuisines as a result of globalization and lifestyle changes. Many people want to adopt different cultures in order to taste their variety of foods. Owing to this tourism increases making hot pot condiments more famous around the globe. Also, many tourists mostly visit china only to taste the flavor of hot pot condiments.

Rising product innovation among manufacturers is driving the growth of the hot pot condiment market.

Manufacturers are increasingly focusing on serving consumer tastes and produces a variety of dishes that seems innovative. Now, people are looking for different and new types of dishes which increases the innovation among manufacturers. This factor is rising the demand for hot pot condiments among people. Furthermore, many people no longer have the time to prepare their meals from scratch as a result of their lifestyle changes. Premade broths and condiments can make it easier for them to eat similar foods with less effort. So, the number of product innovations among manufacturers increases which further enhances the market growth.

Global Hot Pot Condiment Market Challenges

Stringent government regulation towards the food industry is one of the factors impeding market growth.

Owing to rising chemical content in food products rules and regulations becomes strict. With the introduction of ISO 22000, which addresses food safety management systems, major changes have been introduced in the global food industry. Due to increased attention from government agencies and customers, the COVID-19 pandemic will result in stricter regulations for workers' health and safety in the food industry. This factor reduces the making of hot pot condiments and thus deteriorates market growth.

Global Hot Pot Condiment Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Hot Pot Condiment top 10 companies include:

  1. Yihai,
  2. Hongjiujiu,
  3. Inner Mongolia Red Sun,
  4. Teway Food Group,
  5. Chongqing Morals Village,
  6. Hao Ren Jia,
  7. Chongqing Sanyi Food,
  8. Haitian,
  9. Inner Mongolia Mengxin Food,
  10. Chongqing Banu Food Culture.

Recent Developments

  • In January 2022, at the nearing of the Chinese New Year, Hao Ren Jia brand will introduce a range of small-sized hot pot bases and recipe-style seasonings wrapping handmade butter hot pot base, bobo chicken seasoning, soup pickled fish sauce seasoning, hawthorn clear-oil hot pot base and more. The delectableness persists into the alone time. With Hao Ren Jia, people can appreciate good taste each minute.
  • In March 2021, Haitian launched hot pot related condiments as people are becoming more interested in spicy dishes which rising the sales of hot pot condiments.
  • In January 2021, Hao Ren Jia brand will launch a series of small-sized hot pot bases and recipe-style seasonings covering handmade butter hot pot base, bobo chicken seasoning, soup pickled fish sauce seasoning, hawthorn clear-oil hot pot base, etc. 

Relevant Titles

Spices and Seasoning Market- Forecast (2022-2027)
Report Code- FBR 51259

Global Spicy Sticks Market- Forecast (2022-2027)
Report Code- FBR 54024

Creative Condiments Market - Forecast(2022 - 2027)
Report Code- FBR 0338

For more Food and Beverage Market reports, please click here

1. Global Hot Pot Condiment Market Overview
    1.1 Definitions and Scope
2. Global Hot Pot Condiment Market Executive Summary
    2.1 Market Size and Key Trends
    2.2 Key trends by Type
    2.3 Key trends by End-User
    2.4 Key trends by Geography
3. Global Hot Pot Condiment Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Company Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Global Hot Pot Condiment Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Global Hot Pot Condiment Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Global Hot Pot Condiment Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes
7. Global Hot Pot Condiment Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Global Hot Pot Condiment Market– By Type (Market Size -$Million/$Billion)
    8.1 Solid
    8.2 Liquid
    8.3 Powder
9. Global Hot Pot Condiment Market– By End-User (Market Size -$Million/$Billion)
    9.1 Household
    9.2 Commercial
10. Global Hot Pot Condiment Market- By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 Germany
        10.2.2 United Kingdom (U.K)
        10.2.3 France
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Russia
        10.2.7 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Rest of Asia-Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Chile
        10.4.4 Colombia
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
        10.5.2 Africa
11. Global Hot Pot Condiment Market Entropy
12. Global Hot Pot Condiment Market- Industry / Segment Competition landscape Premium Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
    12.2 Competition Matrix
    12.3 Best Practices for Companies
13. Global Hot Pot Condiment Market- Key Company List by Country Premium Premium
14. Global Hot Pot Condiment Market Company Analysis
    14.1 Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global Industry Environment Market 2019-2024 ($M)
1.1 Policy Market 2019-2024 ($M) - Global Industry Research
1.2 Economics Market 2019-2024 ($M) - Global Industry Research
1.3 Sociology Market 2019-2024 ($M) - Global Industry Research
1.4 Technology Market 2019-2024 ($M) - Global Industry Research
2.Global Hot Pot Condiment Market by Type Market 2019-2024 ($M)
2.1 By Type Market 2019-2024 ($M) - Global Industry Research
2.1.1 Solid Market 2019-2024 ($M)
2.1.2 Liquid Market 2019-2024 ($M)
2.1.3 Powder Market 2019-2024 ($M)
3.Global Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
4.Global Major Companies List Market 2019-2024 ($M)
4.1 Yihai International Market 2019-2024 ($M) - Global Industry Research
4.2 Inner Red Sun Market 2019-2024 ($M) - Global Industry Research
4.3 Sichuan Tianwei Market 2019-2024 ($M) - Global Industry Research
4.4 Chongqing Morals Village Market 2019-2024 ($M) - Global Industry Research
4.5 Little Sheep Market 2019-2024 ($M) - Global Industry Research
5.Global Demand by End Market Market 2019-2024 ($M)
5.1 Demand in Household Market 2019-2024 ($M) - Global Industry Research
5.2 Demand in Commercial Market 2019-2024 ($M) - Global Industry Research
6.Global Industry Environment Market 2019-2024 (Volume/Units)
6.1 Policy Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Economics Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Sociology Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 Technology Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Hot Pot Condiment Market by Type Market 2019-2024 (Volume/Units)
7.1 By Type Market 2019-2024 (Volume/Units) - Global Industry Research
7.1.1 Solid Market 2019-2024 (Volume/Units)
7.1.2 Liquid Market 2019-2024 (Volume/Units)
7.1.3 Powder Market 2019-2024 (Volume/Units)
8.Global Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 (Volume/Units)
9.Global Major Companies List Market 2019-2024 (Volume/Units)
9.1 Yihai International Market 2019-2024 (Volume/Units) - Global Industry Research
9.2 Inner Red Sun Market 2019-2024 (Volume/Units) - Global Industry Research
9.3 Sichuan Tianwei Market 2019-2024 (Volume/Units) - Global Industry Research
9.4 Chongqing Morals Village Market 2019-2024 (Volume/Units) - Global Industry Research
9.5 Little Sheep Market 2019-2024 (Volume/Units) - Global Industry Research
10.Global Demand by End Market Market 2019-2024 (Volume/Units)
10.1 Demand in Household Market 2019-2024 (Volume/Units) - Global Industry Research
10.2 Demand in Commercial Market 2019-2024 (Volume/Units) - Global Industry Research
11.North America Industry Environment Market 2019-2024 ($M)
11.1 Policy Market 2019-2024 ($M) - Regional Industry Research
11.2 Economics Market 2019-2024 ($M) - Regional Industry Research
11.3 Sociology Market 2019-2024 ($M) - Regional Industry Research
11.4 Technology Market 2019-2024 ($M) - Regional Industry Research
12.North America Hot Pot Condiment Market by Type Market 2019-2024 ($M)
12.1 By Type Market 2019-2024 ($M) - Regional Industry Research
12.1.1 Solid Market 2019-2024 ($M)
12.1.2 Liquid Market 2019-2024 ($M)
12.1.3 Powder Market 2019-2024 ($M)
13.North America Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
14.North America Major Companies List Market 2019-2024 ($M)
14.1 Yihai International Market 2019-2024 ($M) - Regional Industry Research
14.2 Inner Red Sun Market 2019-2024 ($M) - Regional Industry Research
14.3 Sichuan Tianwei Market 2019-2024 ($M) - Regional Industry Research
14.4 Chongqing Morals Village Market 2019-2024 ($M) - Regional Industry Research
14.5 Little Sheep Market 2019-2024 ($M) - Regional Industry Research
15.North America Demand by End Market Market 2019-2024 ($M)
15.1 Demand in Household Market 2019-2024 ($M) - Regional Industry Research
15.2 Demand in Commercial Market 2019-2024 ($M) - Regional Industry Research
16.South America Industry Environment Market 2019-2024 ($M)
16.1 Policy Market 2019-2024 ($M) - Regional Industry Research
16.2 Economics Market 2019-2024 ($M) - Regional Industry Research
16.3 Sociology Market 2019-2024 ($M) - Regional Industry Research
16.4 Technology Market 2019-2024 ($M) - Regional Industry Research
17.South America Hot Pot Condiment Market by Type Market 2019-2024 ($M)
17.1 By Type Market 2019-2024 ($M) - Regional Industry Research
17.1.1 Solid Market 2019-2024 ($M)
17.1.2 Liquid Market 2019-2024 ($M)
17.1.3 Powder Market 2019-2024 ($M)
18.South America Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
19.South America Major Companies List Market 2019-2024 ($M)
19.1 Yihai International Market 2019-2024 ($M) - Regional Industry Research
19.2 Inner Red Sun Market 2019-2024 ($M) - Regional Industry Research
19.3 Sichuan Tianwei Market 2019-2024 ($M) - Regional Industry Research
19.4 Chongqing Morals Village Market 2019-2024 ($M) - Regional Industry Research
19.5 Little Sheep Market 2019-2024 ($M) - Regional Industry Research
20.South America Demand by End Market Market 2019-2024 ($M)
20.1 Demand in Household Market 2019-2024 ($M) - Regional Industry Research
20.2 Demand in Commercial Market 2019-2024 ($M) - Regional Industry Research
21.Europe Industry Environment Market 2019-2024 ($M)
21.1 Policy Market 2019-2024 ($M) - Regional Industry Research
21.2 Economics Market 2019-2024 ($M) - Regional Industry Research
21.3 Sociology Market 2019-2024 ($M) - Regional Industry Research
21.4 Technology Market 2019-2024 ($M) - Regional Industry Research
22.Europe Hot Pot Condiment Market by Type Market 2019-2024 ($M)
22.1 By Type Market 2019-2024 ($M) - Regional Industry Research
22.1.1 Solid Market 2019-2024 ($M)
22.1.2 Liquid Market 2019-2024 ($M)
22.1.3 Powder Market 2019-2024 ($M)
23.Europe Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
24.Europe Major Companies List Market 2019-2024 ($M)
24.1 Yihai International Market 2019-2024 ($M) - Regional Industry Research
24.2 Inner Red Sun Market 2019-2024 ($M) - Regional Industry Research
24.3 Sichuan Tianwei Market 2019-2024 ($M) - Regional Industry Research
24.4 Chongqing Morals Village Market 2019-2024 ($M) - Regional Industry Research
24.5 Little Sheep Market 2019-2024 ($M) - Regional Industry Research
25.Europe Demand by End Market Market 2019-2024 ($M)
25.1 Demand in Household Market 2019-2024 ($M) - Regional Industry Research
25.2 Demand in Commercial Market 2019-2024 ($M) - Regional Industry Research
26.APAC Industry Environment Market 2019-2024 ($M)
26.1 Policy Market 2019-2024 ($M) - Regional Industry Research
26.2 Economics Market 2019-2024 ($M) - Regional Industry Research
26.3 Sociology Market 2019-2024 ($M) - Regional Industry Research
26.4 Technology Market 2019-2024 ($M) - Regional Industry Research
27.APAC Hot Pot Condiment Market by Type Market 2019-2024 ($M)
27.1 By Type Market 2019-2024 ($M) - Regional Industry Research
27.1.1 Solid Market 2019-2024 ($M)
27.1.2 Liquid Market 2019-2024 ($M)
27.1.3 Powder Market 2019-2024 ($M)
28.APAC Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
29.APAC Major Companies List Market 2019-2024 ($M)
29.1 Yihai International Market 2019-2024 ($M) - Regional Industry Research
29.2 Inner Red Sun Market 2019-2024 ($M) - Regional Industry Research
29.3 Sichuan Tianwei Market 2019-2024 ($M) - Regional Industry Research
29.4 Chongqing Morals Village Market 2019-2024 ($M) - Regional Industry Research
29.5 Little Sheep Market 2019-2024 ($M) - Regional Industry Research
30.APAC Demand by End Market Market 2019-2024 ($M)
30.1 Demand in Household Market 2019-2024 ($M) - Regional Industry Research
30.2 Demand in Commercial Market 2019-2024 ($M) - Regional Industry Research
31.MENA Industry Environment Market 2019-2024 ($M)
31.1 Policy Market 2019-2024 ($M) - Regional Industry Research
31.2 Economics Market 2019-2024 ($M) - Regional Industry Research
31.3 Sociology Market 2019-2024 ($M) - Regional Industry Research
31.4 Technology Market 2019-2024 ($M) - Regional Industry Research
32.MENA Hot Pot Condiment Market by Type Market 2019-2024 ($M)
32.1 By Type Market 2019-2024 ($M) - Regional Industry Research
32.1.1 Solid Market 2019-2024 ($M)
32.1.2 Liquid Market 2019-2024 ($M)
32.1.3 Powder Market 2019-2024 ($M)
33.MENA Hot Pot Condiment Chongqing Hongjiujiu Market 2019-2024 ($M)
34.MENA Major Companies List Market 2019-2024 ($M)
34.1 Yihai International Market 2019-2024 ($M) - Regional Industry Research
34.2 Inner Red Sun Market 2019-2024 ($M) - Regional Industry Research
34.3 Sichuan Tianwei Market 2019-2024 ($M) - Regional Industry Research
34.4 Chongqing Morals Village Market 2019-2024 ($M) - Regional Industry Research
34.5 Little Sheep Market 2019-2024 ($M) - Regional Industry Research
35.MENA Demand by End Market Market 2019-2024 ($M)
35.1 Demand in Household Market 2019-2024 ($M) - Regional Industry Research
35.2 Demand in Commercial Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
2.Canada Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
3.Mexico Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
4.Brazil Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
5.Argentina Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
6.Peru Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
7.Colombia Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
8.Chile Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
10.UK Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
11.Germany Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
12.France Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
13.Italy Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
14.Spain Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
16.China Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
17.India Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
18.Japan Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
19.South Korea Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
20.South Africa Global Hot Pot Condiment Market Revenue, 2019-2024 ($M)
21.North America Global Hot Pot Condiment By Application
22.South America Global Hot Pot Condiment By Application
23.Europe Global Hot Pot Condiment By Application
24.APAC Global Hot Pot Condiment By Application
25.MENA Global Hot Pot Condiment By Application