Global Soy Sauce Market
Global Soy Sauce was valued at US$ 23.38 Billion in 2021, estimated to reach US$ 58.2 Billion in 2027, with a CAGR 14.59% from 2022-2027.
An East Asian liquid condiment which was originated in China is known as Soy Sauce Market. It is conventionally made from a fermented paste of soybeans, roasted grain, brine and Aspergillus sojae molds. Soy sauce powder is known as the dehydrated soy sauce.
Market Drivers
One of the key factors driving the growth of the market is substantial growth in the food and beverage industry across the globe.
Moreover, growing health consciousness among the consumers has boosted the demand for premium-quality soy sauces, along with shifting consumer preferences for gluten-free and low-sugar variants, is affecting the market growth positively.
Also, it is an important ingredient of several popular and developing world cuisines like Japanese, Chinese, Thai, Vietnamese, Indonesian, and Malaysian.
Market Restraints
Additional consumption can lead to ill effects on the health due to the existence of sodium in soy sauce and this will hamper the growth of the Soy Sauce Market.
High costs allied with the research and development proficiencies and with the launch will also affect negatively on the market growth rate.
Soy sauce comprises few cancer forming ingredients and this will also hinder the Soy Sauce market growth.
Market Segmentation
Soy Sauce Market is segmented into major 4 categories. Based on Type, the market is divided into Brewed, Blended. Based on Application, the market is segmented into Food Industry, Household. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East.
Regional Analysis
The Asia Pacific is projected to be the largest and the fastest-growing, regional market over the forecast period. China is the major revenue-generator in the Asia Pacific region owing to the increasing popularity of Chinese cuisine across the world.
North America is also anticipated to witness a substantial growth over the forecast period. This growth is because of the high demand for organic and additive-free brewed soy sauce & the increasing popularity of Asian cuisines in the region will also help boost demand.
Market Key Players
Some of the key players operating in Global Soy Sauce Market are Haitian, Kikkoman Corp., Masan Group, Bourbon Barrel Foods, Lee Kum Kee, Otafuku Sauce, Yamasa Corp., Maggi, Meiweixian, and Okonomi.
Industry development
In April 2022 Kikkoman Corporation, a producer of naturally brewed soy sauce, has announced the launch of an Oyster Flavored Sauce, which is 100% vegetarian, suitable for both vegetarians and non-vegetarians, for the first time in India.
In March 2022 Chinese sauce company Lee Kum Kee is launching four new sauces into Sainsbury’s. The new sauces include Chu Hou Paste (Chinese Five-Spice Style), Satay Sauce, Sichuan Style Hot & Spicy Stir-Fry Sauce, and Oriental Sesame Soy Sauce. The new range brings genuine Chinese flavours to UK consumers to easily enhance home cooking.
In December 2020 Lee Kum Kee has expanded beyond Asian sauces with the launch of a new line of ready-to-eat rice and noodle bowls under its Panda brand in the US.
Global Soy Sauce Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Feedstock Types
3 Executive Summary
4 Global Soy Sauce Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Soy Sauce Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Soy Sauce Market Share Analysis, By Type
5.3 Global Soy Sauce Market Size and Forecast, By Type
5.3.1 Brewed
5.3.2 Blended
6 Global Soy Sauce Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Soy Sauce Market Share Analysis, By Application
6.3 Global Soy Sauce Market Size and Forecast, By Application
6.3.1 Household
6.3.2 Food Industry
7 Global Soy Sauce Market, By Region
7.1 Global Soy Sauce Market Share Analysis, By Region
7.2 Global Soy Sauce Market Share Analysis, By Region
7.3 Global Soy Sauce Market Size and Forecast, By Region
8 North America Global Soy Sauce Market Analysis and Forecast (2022 – 2027)
8.1 Introduction
8.2 North America Global Soy Sauce Market Share Analysis, By Type
8.3 North America Global Soy Sauce Market Size and Forecast, By Application
8.4 North America Global Soy Sauce Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Global Soy Sauce Market Analysis and Forecast (2022 – 2027)
9.1 Introduction
9.2 Europe Global Soy Sauce Market Share Analysis, By Type
9.3 Europe Global Soy Sauce Market Size and Forecast, By Application
9.4 Europe Global Soy Sauce Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10 Asia Pacific Global Soy Sauce Market Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 Asia Pacific Global Soy Sauce Market Share Analysis, By Type
10.3 Asia Pacific Global Soy Sauce Market Size and Forecast, By Application
10.4 Asia Pacific Global Soy Sauce Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Global Soy Sauce Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Latin America Global Soy Sauce Market Share Analysis, By Type
11.3 Latin America Global Soy Sauce Market Size and Forecast, By Application
11.4 Latin America Global Soy Sauce Market Size and Forecast, By Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Global Soy Sauce Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Middle East Global Soy Sauce Market Share Analysis, By Type
12.3 Middle East Global Soy Sauce Market Size and Forecast, By Application
12.4 Middle East Global Soy Sauce Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Haitian
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Kikkoman Corp.
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Masan Group
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Bourbon Barrel Foods
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Lee Kum Kee
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Otafuku Sauce
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Yamasa Corp.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Maggi
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Meiweixian
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Okonomi
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
