Global Oyster Sauces Market By Type (Oyster Sauce, Non-MSG Oyster Sauce, Vegetarian Oyster Sauce), Distribution Channel (Independent Retailers, Online Retailers, Supermarkets & Hypermarkets, Convenience Stores), End-User (Retail, Foodservice), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Oyster Sauces Market
Global oyster sauces market is expected to register a steady CAGR of 4.17% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the increasing preference of cooking at home as well as the availability of online distribution channels such as online grocery delivering services and e-commerce.
Market Definition: Global Oyster Sauces Market
Oyster sauce is an additional condiment generally utilized in the production of various food variants in Asian cuisine. This ingredient is manufactured by simmering the oysters down to a thick brown liquid state in water. This method was traditionally utilized, but with the requirement of mass production from various end-users the method has transformed from using oysters to using their essence in a mixture of water, salt, sugar with corn starch acting as a thickening agent. Soy sauce and monosodium glutamate (MSG) are also utilized as additions to this variety to improve their flavour and colour.
Vegetarian oyster sauce is also available for the vegan population which replaces the usage of oysters with oyster mushroom which have a similar aroma and taste to that of oysters.
- Increasing awareness regarding the benefits of healthy eating lifestyle is expected to augment the growth of the market
- Advancements in technologies associated with the packaging of the product resulting in better shelf life and extended time-period for retention of flavour is also expected to drive the growth of the market
- Large-scale availability of private label products is also expected to foster growth of the market value
- Rising innovations in cooking practices and dishes improving the usage rate of oyster sauce as an ingredient is expected to positively affect the growth of the market
- Availability of variety of substitutes for oyster sauce is expected to restrict its adoption rate
- Allergic reactions to seafood and oysters amongst the population is expected to restrict the market growth
Global Oyster Sauces Market Segmentation:
- Oyster Sauce
- Non-MSG Oyster Sauce
- Vegetarian Oyster Sauce
By Distribution Channel
- Independent Retailers
- Online Retailers
- Supermarkets & Hypermarkets
- Convenience Stores
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In November 2018, AJINOMOTO CO.,INC. announced that they are expanding their manufacturing capacity for their packaging soups and other offerings that the company provide. The facility will be extended on the existing premise of Kawasaki Administration & Coordination Office. This expansion is in accordance to their strategy of manufacturing an individual company for food packaging, manufacturing and processing named as “Ajinomoto Food Manufacturing Co., Ltd.”.
- In April 2018, Nestlé announced the launch of an improved variant of their “MAGGI Oyster Sauce”, which has been improved to have more thickness and richer flavours, produced from Japanese and Korean oysters. The sauce was exhibited in their “Food Truck Caravan” that they organized to improve the awareness regarding their new product and spread inspiration among mothers to expand its usage.
Global oyster sauces market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of oyster sauces market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global oyster sauces market are AJINOMOTO CO.,INC.; Foshan Haitian Flavoring & Food Co.Ltd.; KIKKOMAN SALES USA, INC.; Lee Kum Kee; Société des Produits Nestlé S.A.; MOTHER'S BEST; KAKUSAN SHOKUHIN; Bachun Food Industries (Pte) Ltd; Yuen Chun Industries Sdn Bhd.; THAIPREEDA GROUP; Marine Resources Development Co., Ltd.; Foodex Manufacturer Co., LTD.; ThaiTheparos PLC; Pantainorasingh Co.,Ltd; Yanwalyun; FOOD BLESSING (1988) CO.,LTD.; Wan Ja Shan; Kwong Cheong Thye; Sin Hwa Dee Foodstuff Industries Pte. Ltd and Sin Tai Hing among others.
Research Methodology: Global Oyster Sauces Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure