There were 18,000 new products introduced in 2016 globally that were spicy—compare this with just 3,000 in 2007. It marks a 6% increase from the previous year, reaching a 20% compound annual growth rate over the nine years the index started tracking.
There was a 20 percent compound annual growth rate, or CAGR, over the nine-year period”. “It does not show signs of slowing down anytime soon. Food processors, manufacturers and consumer packaged goods [CPG] food companies wanting to innovate should be looking towards new ways to bring hot and spicy foods to the market.” The survey pulled together data from consumer surveys and market research from both retail and restaurant menus, including macro trends and regional differences. The document reveals that 90% of American consumers and 80% of European consumers enjoy hot and spicy foods. One in four US consumers are eating spicy foods more often than they did one year ago. “Every food provider, from CPG food companies to restaurants and newer food producer models like meal kit delivery companies, is trying to predict the next big thing in food”. “Incremental growth is just as important with new product launches and ‘limited time offer’ products. “How do hot and spicy flavors play a part? With the consistent growth in demand for hot and spicy foods and the consumer trends towards more heat and more subtle, specialized flavors, custom hot and spicy products and menu flavors open the doors to unlimited innovation.”