Big hot sauce wants more hot sauce | Curio

Big hot sauce wants more hot sauce

29 mins | Feb 5, 2022

The battle for the “next ketchup”. From Frank’s RedHot to Cholula, spice and seasoning king McCormick’s has recently acquired a range of the biggest names in the hot sauce industry. Will this give them the edge to owning the next big condiment? Not if other food giants such as Hellman and Heinz have anything to do with it. In this fascinating insight into the condiment industry, Austin Carr explores the world of hot sauce consolidation.

 “Still, McCormick has a way to go before it can make the hot sauce as big as ketchup. The latter market is nearly $2 billion larger worldwide, according to Euromonitor. Whereas Heinz faces relatively little competition for its flagship product, the hot sauce business is full of small-batch sellers, private labels marketed by grocery stores, and family-led brands with loyal followings such as McIlhenny’s Tabasco, Huy Fong sriracha, Baumer’s Crystal, and Tapatío, all of which seem to have the same objective as McCormick. “We want to be the Heinz ketchup of the hot sauce world,” says Tapatío’s Saavedra Jr.”

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From Bloomberg Businessweek

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