Tuesday, April 17, 2012

Graduates, We Have Two Words for You: Hot Sauce

Posted By on Tue, Apr 17, 2012 at 11:13 AM

Those not tuned into Wonkbook, Ezra Klein's column in the Washington Post, are seriously missing out. It's full of fascinating daily tidbits of economic and policy data that say far more than even the most scathing sound bites.

In today's edition, Klein examines a new report about the top 10 growth industries in America. Yoga studios are big business right now, and apparently so are tanning cremes. But one of the best insights comes at number eight, one slot above green construction: hot sauce.

From the column:

It’s probably not a surprise that yoga studios are booming, but what about self-tanning? According to the report, consumer awareness about the dangers of tanning beds and UV rays are turning people on to various self-tanning creams, mousses, and sprays. The industry has grown at a blistering (but not burning!) rate of 22.7 percent per year since 2002.

Hot sauces, too, are another oddity. IBIS World notes that hot sauce sales have exploded thanks to demographic changes, immigration, and the growing popularity of spicier ethnic food in the United States, Canada, and Japan. The industry has grown at a rate of 9.3 percent per year over the past decade.

The rest of the column and the results can be read here.

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