U.S. Sales and Market Sizing

Goals

To find out the most popular Asian hot sauce brands in terms of their US sales.

Early Findings

  • According to fastcompany.com, Sriracha is perhaps the best-known Asian hot sauce in the US, largely because it has developed a cult following among young people.
  • The popularity of Sriracha as an Asian hot sauce also finds validation in a paste magazine article which terms it as ‘everyone’s favorite hot sauce’ that started showing up on menus in every kind of restaurants ranging from fast food to fine dining.
  • However, the article also mentions another Asian hot sauce Gochujang quickly taking over menus across the US.
  • On Instacart’s list of the 10 most popular hot sauces in America, ‘Huy Fong Foods Sriracha hot sauce’ and ‘Ninja Squirrel Sriracha hot sauce’ find their place at number 3 and number 10 respectively.
  • According to fortune.com, Huy Fong's Sriracha is "totally mainstream" in the U.S. now, where, in 2018, it made US$80 million in revenue.
  • Riding on the trend Huy Fong started, American stalwart Tabasco now sells a Tabasco-brand Sriracha ("A Louisiana twist on the classic Thai recipe").
  • Heinz also has a Sriracha ketchup.

In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

Proposed next steps:

You need to be the project owner to select a next step.
Our initial research suggests that while Sriracha and Gochujang are popular categories of Asian hot sauce in the US, each of them may be produced by different companies under different brand names. For example, Sriracha hot sauce is manufactured by Huy Fong Foods, Ninja Squirrel, Tabasco etc. Although we could find out the US sales of Huy Fong Foods’ Sriracha hot sauce, we also took note of the fact that sales data for individual brands were not easily available. Therefore, we would like to propose further research to find out 5-7 most popular Asian hot sauce brands in terms of their US sales. The sales volume can be measured either in terms of dollar value, or number of units sold.
As mentioned in our early findings, Gochujang is a category of Asian hot sauce that grew into prominence at a time when Sriracha was being considered as the most favourite hot sauce. To capture insights such as this, we would propose continued research to identify 2-3 key trends in the US market of Asian hot sauce. Each trend would have a description of the trend, why it is considered as key, and names of brands who are at the forefront of the trend.