THE 2004/2005 MARKET FOR SALAD DRESSINGS, SAUCES, AND CONDIMENTS (With Long-Term Forecasts Through 2012)

TABLE OF CONTENTS

SECTION I: EXECUTIVE OVERVIEW

Analysis:

Overview 1

The Dressings Market 1

The Sauces Market 2

Factors Impacting Demand 3

The Foodservice Industry 4

SECTION II: THE U.S. MARKET FOR DRESSINGS

Analysis:

Overview 5

U.S. Manufacturers' Sales of Dressings 5

Salad Dressings for Kids 6

Organic Dressings 7

Rising Brands 7

Not Just for Salads 8

Market Segmentation 8

Foreign Trade of Dressings 9

The Future of the Dressings Market 10

Tables:

Glossary of Selected Terms in the Dressings Market 12

U.S. Manufacturers' Sales of Dressings:

Total 13

By Type 14

Product Mix 15

Graph: Product Mix 16

Growth Trends, by Type 17

Spoon-Type Dressings, by Type 18

Pourable Dressings 19

Dry Salad Dressing Mixes 20

U.S. Foreign Trade of Dressings:

Imports of Mayonnaise 21

Exports of Mayonnaise 23

Imports of Salad Dressings, Not Elsewhere Specified or Included 25

Exports of Salad Dressings, Not Elsewhere Specified or Included 27

Market Shares in the U.S. Shelf-Stable, Pourable Salad Dressing Market,

by Company 29

Graph: Market Share Comparison in the U.S. Shelf-Stable, Pourable

Salad Dressing Market, by Company 30

Leading Shelf-Stable, Pourable Salad Dressings, by Brand 31

Leading Salad Dressing Flavors 32

Number of New Product Introductions in the U.S. Market for Salad

Dressings 33

Selected New Dressing Product Introductions 34

SECTION III: THE U.S. MARKET FOR SAUCES

Analysis:

Overview 41

U.S. Manufacturers' Sales of Sauces 41

The Ketchup Segment 42

Foreign Trade of Ketchup 44

The Meat Sauce Segment 44

The Barbecue Sauce Segment 45

The Mexican Sauce Segment 45

The Prepared Mustard Segment 46

Foreign Trade of Mustard 46

The Soy and Teriyaki Sauce Segment 47

Foreign Trade of Soy Sauce 47

The Future of the Sauce Market 48

Tables:

Glossary of Selected Terms in the Sauce Market 49

U.S. Manufacturers' Sales of Sauces:

Total 50

By Type 51

Product Mix 52

Graph: Product Mix 53

Growth Trends, by Type 54

Leading Brands in the Sauce Market, by Segment 55

Estimated Market Shares in the U.S. Ketchup Market 56

Popular Uses for Ketchup on Foods Around the World 57

U.S. Foreign Trade of Sauces:

Imports of Tomato Ketchup 58

Exports of Tomato Ketchup 60

Imports of Prepared Mustard 62

Exports of Mustard Flour and Meal and Prepared Mustard 64

Imports of Soy Sauce 66

Exports of Soy Sauce 68

Number of New Product Introductions in the U.S. Market for Sauces 70

Selected New Sauce Product Introductions 71

SECTION IV: DISTRIBUTION TRENDS

Analysis:

Retail Sales of Dressings and Spreads 77

Retail Sales of Ketchup 78

Supermarket Sales of Meat and Appetizer Sauces 78

Retail Sales of Barbecue Sauce 79

Retail Sales of Mexican Sauce 79

Supermarket Sales of Chili and Hot Sauces 80

Retail Sales of Prepared Mustard 80

Supermarket Sales of Oriental Sauces 81

Private-Label Dressings and Sauces 81

Product Preference Study 83

Tables:

Retail Sales of Dressings and Spreads:

Total 85

By Type 86

Growth Trends, by Type 87

Product Mix 88

Supermarket Sales of Dressings and Spreads 89

Retail Sales of Ketchup:

Total 90

Supermarket Sales 91

Supermarket Sales of Meat Sauce 92

Supermarket Sales of Appetizer Sauces 93

Retail Sales of Barbecue Sauce:

Total 94

Supermarket Sales 95

Retail Sales of Mexican Sauce:

Total 96

Supermarket Sales 97

Supermarket Sales of Chili Sauce 98

Supermarket Sales of Hot Sauce 99

Retail Sales of Prepared Mustard:

Total 100

Supermarket Sales 101

Supermarket Sales of Soy, Teriyaki, and Other Oriental Sauces 102

Retail Sales of Private-Label Dressings and Sauces:

By Type 103

Growth Trends, by Type 104

Product Preference Study 105

SECTION V: FACTORS IMPACTING DEMAND

Analysis:

Overview 106

Fresh Head Lettuce and Vegetables 106

Prepackaged Salads 107

Flavor Impacts Demand for Salad Dressings 109

Consumption of Meats and Poultry 109

Fast Food Salads 109

Consumer Expenditure Survey 110

Tables:

U.S. Production of Fresh Head Lettuce:

Total 112

By State 113

Per Capita and Total Consumption of Fresh Head Lettuce 114

Retail Prices for Fresh Head Lettuce 115

Retail Sales of Refrigerated Salads 116

Per Capita Consumption of Selected Vegetables and Oils Used for or

Found in Salads 117

Retail Prices for Selected Vegetables Used for or Found in Salads 118

Leading Countries Consuming Retail Ketchup 119

Tomatoes (For Processing):

Value of Production 120

Area, Yield, and Production 121

U.S. Production and Per Capita Consumption:

Red Meats 122

Beef 123

Ready-to-Cook Chicken 124

Retail Sales of Selected Meats and Poultry 125

Retail Sales of Selected Mexican and Oriental Foods 126

Retail Sales of Corn/Tortilla Chips 127

Producer Price Trends:

Hamburger and Other Boneless Beef 128

Frankfurters, Including Wieners 129

Smoked or Cooked Sausage 130

Hams and Picnics, Except Canned 131

Frozen French Fried Potatoes 132

Consumer Price Trends:

Uncooked Ground Beef 133

Frankfurters 134

Ham 135

Average Annual Household Spending on Salad Dressings and Fresh

Vegetables:

Total 136

By Household Type 137

By Region 138

By Income 139

Average Annual Household Spending on Salad Dressings and Fresh

Vegetables: (cont' d.)

By Household Composition 141

By Age of Householder 143

Average Annual Household Spending on Sauces and Gravies and

Selected Meats:

Total 144

By Household Type 145

By Region 146

By Income 147

By Household Composition 149

By Age of Householder 151

SECTION VI: CONSUMER DEMOGRAPHICS

Analysis:

Overview 152

Spending Habits 152

The Impact of Dieting 153

Demographics of the U.S. Workforce 153

Demographics on Ketchup Consumption 154

Demographics on Barbecuing 155

Growth in the Hispanic and Asian Populations 155

Tables:

U.S. Gross Domestic Product 156

U.S. Personal Consumption Expenditures 157

U.S. Per Capita Disposable Personal Income 158

U.S. Population Trends and Projections:

Total 159

By Age Group 160

Age Distribution 161

Population and Household Trends and Projections 162

By Region 163

By State 164

Distribution, by State 166

By Ethnic Origin 168

Civilian Labor Force in the U.S., by Gender 169

Civilian Employment, by Occupation 170

Percentage of Adults on Diets 172

Demographic Profile of Ketchup Consumption in the U.S. 173

Demographics on Barbecue Usage 174

SECTION VII: PRICING DYNAMICS

Analysis:

Overview 175

Producer Prices for Dressings 175

Producer Prices for Ketchup 176

Producer Prices for Meat Sauce 176

Consumer Prices for Dressings and Sauces 177

Tables:

Producer Price Trends:

Food and Kindred Products 178

Spoon-Type Salad Dressings 179

Mayonnaise, Salad Dressings, and Sandwich Spreads 180

Pourable Salad Dressings 181

Ketchup 182

Ketchup, by Size 183

Prepared Meat Sauce (Except Tomato-Based) 184

Other Prepared Meat Sauces 185

Chili Sauce 186

Prepared Mustard 187

Consumer Price Trends:

Food and Kindred Products 188

Food at Home 189

Salad Dressings and Sauces and Gravies 190

Typical Retail Selling Prices for Selected Brands of Dressings and

Sauces 191

SECTION VIII: DEMAND IN THE FOODSERVICE INDUSTRY

Analysis:

Overview 195

Consumer Prices 196

Dressings and Sauces in the Foodservice Industry 197

Restaurant Industry Sales 197

Rankings of Burger Chains 197

Rankings of Family Dining, Dinner House, and Steakhouse Chains 198

Rankings of Ethnic Restaurant Chains 199

Cafeterias 199

Hotels 200

Airlines 200

Amusement Parks 201

Movie Theaters 201

Concession Stands 202

The Future of Dressings and Sauces in the Foodservice Industry 202

Consumer Price Trends for Food and for Food Away from Home 203

Number of Eating Establishments in the U.S. 204

Sales of Selected Restaurant Segments 205

Tables:

Distribution of Sales of Selected Restaurant Segments 206

Rankings of Selected Restaurant Chains, by Segment 207

Top 20 Restaurant Chains 208

Value of New Public and Private Construction of Educational Facilities 209

Number of Students Enrolled in Elementary and Secondary Schools 210

Sales of Sandwiches and Salads from All-Purpose Food Vending

Machines 211

Number of Properties and Average Occupancy Rates in the U.S. Lodging

Industry 212

Number of Passengers on U.S. Commercial Air Carriers 213

Number of Motion Picture Theaters in the U.S. 214

Number of Amusement Parks in the U.S. 215

SECTION IX: ADVERTISING AND PROMOTION

Analysis:

Media Expenditures for Dressings and Sauces 216

Leading Advertisers in the Dressings Market 216

Leading Advertisers in the Sauce Market 217

Advertising Trends in the Dressings and Sauces Industry 218

Tables:

Media Expenditures for Dressings and Sauces:

Total 220

By Type 221

The Top Five Media Spenders in the Dressings Market 222

The Top Ten Advertised Brands in the Dressings Market 223

Media Expenditures for Dressings, by Company and Brand 224

The Top Ten Media Spenders in the Sauce Market 227

The Top Ten Advertised Brands in the Sauce Market 228

Media Expenditures for Sauces, by Company and Brand 229

SECTION X: COMPANY PROFILES

Introduction 234

Birds Eye Foods, Inc.:

Overview 235

"Bernstein' s"  235

Nalley' s Fine Foods 236

Financial Performance 237

Facilities and Employees 238

Company News 238

Financial Summary and Analysis 239

Campbell Soup Company:

Overview 240

"Pace"  240

Financial Performance 242

Distribution and Manufacturing Activities 242

Company News 243

Financial Summary and Analysis 244

The Clorox Company:

Overview 245

Salad Dressings 245

Barbecue Sauces 247

Financial Performance 247

Distribution and Manufacturing Activities 248

Company News 248

Financial Summary and Analysis 249

ConAgra Foods, Inc.:

Overview 250

Ketchup, Barbecue Sauces, and Meat Sauces 250

Mustard 251

Oriental Sauces 252

Financial Performance 252

Distribution and Manufacturing Activities 253

Company News 253

Financial Summary and Analysis 254

General Mills, Inc.:

Overview 255

"Old El Paso"  255

Financial Performance 256

Financial Summary and Analysis 258

Groupe Danone:

Overview 259

Sauces 259

Financial Performance 261

Company News 261

Financial Summary and Analysis 262

H.J. Heinz Company:

Overview 263

History 263

"Heinz"  264

Other Sauces 265

Financial Performance 266

Facilities and Distribution Activities 266

Company News 267

Financial Summary and Analysis 268

Ken' s Foods, Inc.:

Overview 269

Products 269

Kikkoman Corp./Kikkoman International Inc.:

Overview 271

History 272

Sauces 272

Financial Performance 273

Company News 273

Kraft Foods, Inc.:

Overview 275

Dressings 276

Sauces 277

Financial Performance 278

Manufacturing Facilities 278

Distribution Activities 278

Financial Summary and Analysis 280

Lancaster Colony Corporation:

Overview 281

Dressings and Sauces 281

Financial Performance 283

Distribution Activities 283

Manufacturing Facilities 284

Financial Summary and Analysis 285

Naturally Fresh, Inc.:

Overview 286

"Naturally Fresh"  286

"Jackaroo"  287

Facilities 288

Nestle S.A./Nestle USA, Inc.:

Overview 289

Products 290

Financial Performance 290

Manufacturing Facilities 291

Financial Summary and Analysis 292

Newman' s Own, Inc.:

Overview 293

Products 294

Ralcorp Holdings, Inc.:

Overview 295

History 295

Dressings 296

Condiments and Sauces 296

Financial Performance 297

Distribution Activities 297

Ralcorp Holdings, Inc.: (cont' d.)

Manufacturing Facilities 298

Company News 298

Financial Summary and Analysis 299

Reckitt Benckiser plc/Reckitt Benckiser Professional:

Overview 300

Sauces 301

Financial Performance 302

Unilever PLC/Unilever N.V.:

Overview 303

Dressings 304

"Hellmann' s"  305

Marinades 307

Financial Performance 307

Company News 308

SECTION XI: DIRECTORIES OF SELECTED U.S. MANUFACTURERS

Introduction 309

Directory of Selected U.S. Manufacturers of Mayonnaise, Sandwich

Spreads, and Salad Dressings 310

Directory of Selected U.S. Manufacturers of Sauces 316