The global soy sauce market is expected to exhibit a growth rate (CAGR) of 4.9% during 2023-2028.
Soy sauce, or soya sauce, is a salty liquid condiment that is used in the preparation of various dishes in multiple cuisines. It is manufactured using the fermented paste of soybeans, brine, roasted grains, salt, water and Aspergillus sojae molds. It can be produced using both traditional and chemical processes and is known to be a rich source of antioxidants that aids in minimizing allergies, promoting digestion and improving immunity. Thick, dark and light are the most commonly available soy sauce variants, which are widely used in the preparation of dry mixes, cakes, breads, cured meat, dressings and savory snacks. Also, soy sauce forms an essential ingredient in many emerging and traditional world cuisines, including Thai, Japanese, Indonesian, Chinese, Malaysian and Vietnamese.
Significant growth in the food and beverage industry across the globe is one of the key factors driving the growth of the market. In line with this, soy sauce is extensively utilized by hotels, restaurants and cafes as a flavor enhancer and seasoning ingredient by hotels, restaurants and cafes, is also providing a boost to the market growth. Additionally, increasing health consciousness amongst the consumers has enhanced the demand for premium-quality soy sauces. This, along with shifting consumer preferences for gluten-free and low-sugar variants, is impacting the market growth positively. Moreover, manufacturers are launching soy sauce with varied flavors, such as sweet and chili, to cater to local tastes and expand their consumer base. They are also adopting innovative packaging solutions, such as attractive labels and easy-to-use pouch packs, which is contributing to the product demand. Other factors, including rising consumer expenditure capacities, easy product availability through various online retail portals and rapid urbanization, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global soy sauce market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, packaging, distribution and application.
Breakup by Type:
Breakup by Packaging:
- Glass Jars
- Flexible Packs
- Plastic Jars
Breakup by Distribution:
- Direct Sales
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
Breakup by Application:
- Food Processing and Food Service Industry
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Bourbon Barrel Foods, Foshan Haitian Flavoring & Food Corporation Limited, Guangdong Meiweixian Flavoring Foods Corporation Limited, Kikkoman Corporation, Lee Kum Kee, Nestlé S.A. (Maggi Sauces), Masan Group, Otafuku Sauce Corporation Limited (Okonomi), and Yamasa Corporation.
|Base Year of the Analysis
||Type, Packaging, Distribution, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bourbon Barrel Foods, Foshan Haitian Flavoring & Food Corporation Limited, Guangdong Meiweixian Flavoring Foods Corporation Limited, Kikkoman Corporation, Lee Kum Kee, Nestlé S.A. (Maggi Sauces), Masan Group, Otafuku Sauce Corporation Limited (Okonomi), and Yamasa Corporation
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