If you open one of our refrigerators here at COACT, you’ll learn a lot about our company: we (try) to be healthy (read: lots of fruits and veggies), we have a sweet tooth (the ever-present desserts that negate our attempts to be healthy), we really dig coffee (our creamers hint how without coffee, we might fail to function), and we love hot sauce.
I didn’t know hot sauce was a “thing” until I started working at COACT. But it really is, and not just here. In fact, IBISWorld (one of our favorite go-to resources) recently shared an article on their LinkedIn page from The Baltimore Sun how Baltimore’s craft hot sauce makers are on the rise—and how this trend is being applied across the U.S.
This article points out how the craft hot sauce industry is on fire right now—a $1 billion industry, actually! They also cite the 2015 report by NPD Group, a market research firm, that shows that you can find at least one bottle of hot sauce in 56% of American households.
Baltimore Sun reporter Kit Waskom Pollard postulates two potential reasons that the craft hot sauce industry is doing so well: 1) As our palates have become more cosmopolitan in the U.S., we’ve developed a taste for different international cuisines that go well with hot sauce, and 2) Not only does hot sauce taste good, but it’s healthier than other condiments—quite low-calorie, really.
So if current trends show anything, hot sauce production in the U.S. will continue to grow and become even more popular. But competition will become a bit steeper as well. However, that’s great for the average consumer (or COACT team member), though—more options!
Questions or comments? Please contact Michelle Philippon at mphilippon@teamCOACT.com