Global Soy Sauce Market By Type (Brewed, Blended), Application (Household, Food Industry), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Soy Sauce Market
Global soy sauce market is set to witness a substantial CAGR of 7.39% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand as flavour enhancer and availability of different flavours are the factor for the market growth.
Market Definition: Global Soy Sauce Market
Soy sauce is a brown sauce which is usually made by fermented soya beans, brine, koji and roasted grain. They are widely used in Japanese and Chinese dishes. They are mainly added to enhance the flavour of the food. They are considered ideal all-purpose seasoning. They are available in brewed and blended type. Light soy sauce, dark soy sauce, tamari, and other are some of the common types of the soya sauce. They are rich in isoflavones, protein, antioxidants, and other small amount of fibre.
- Increasing health consciousness among population will drive the market growth
- Rising popularity of different cuisines will also accelerate the market demand
- Increasing soy production is another factor boosting the growth of this market
- They have the ability to flavour and color to the food; this factor will also surge the market growth
- High cost of the raw material will hamper the market growth
- It have high sodium content which can increase blood pressure; this factor can restrain the market growth
- Soy sauce contain some cancer forming substances is also hindering the market growth
Segmentation: Global Soy Sauce Market
- Food Industry
- 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 December 2018, Orkla announced that they have sold their Mrs Cheng's brand to the Continental Foods. The main aim of the sale was to decrease the complexity of their portfolio. This acquisition will be beneficial for the Continental Foods as it will help them to enhance their product portfolio and will also help them to offer better services to their customer
- In May 2018, Kikkoman Corporation announced the launch of their Ponzu Citrus Soy Sauce at UK. This new product is the combination of the naturally brewed soy sauce with Japanese condiment Ponzu. The main aim of the launch is to meet the rising demand of the customer for Japanese cuisines. This new product has sour, salty, tangy and sweet taste
Global soy sauce 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 soy sauce 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 soy sauce market are OTAFUKU SAUCE CO.,LTD.; YAMASA Corporation USA; Lee Kum Kee.; Bourbon Barrel Foods; Masan Group.; Kikkoman Corporation; Foshan Haitian flavouring & Food Co.Ltd; Amrapali Biotech; Sing Cheung Co; PRB BIO-TECH CO.,LTD.; ABC USA.; Aloha Shoyu Company; HIGETA SHOYU; SAN-J; Eden Foods Inc.; Kodanmal Co., Ltd.; SHODA SHOYU CO.,LTD.; Dreams Food; Monggo Foods Co., Ltd.; among others.
Research Methodology: Global Soy Sauce 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