Global Soy Sauce Market, By Product Type (Blended Soy Sauce and Brewed Soy Sauce), Packaging Type (Glass Jars, Flexible Packs, Plastic Jars and Others), Distribution Channel (Direct Sales, Supermarkets and Hypermarkets, Convenience Stores, Online Stores and Others), Application (Household and Food Processing and Food Service Industry), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Soy Sauce Market
Data Bridge Market Research analyses that the global soy sauce market will project a CAGR of 7.56% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, surging demand for seasonings, flavours and dressings, rising consumer consciousness towards high quality and nutritional food products such as soy, and increasing personal disposable income by the major companies are the major factors attributable to the growth of soy sauce market.
Also known as brown sauce, soy sauce is made by fermentation of soya beans, brine, koji and roasted grain. Soy sauce has a salty and a sharp taste and is largely popular in East Asian region. Like any other dressing, soy sauce is used to enhance the flavour of the food item. Soy sauce is available in a wide range of flavours via both online and offline modes of distribution.
Rising population and surge in the awareness about the availability of a wide range of flavoured seasonings are the major factors fostering the growth of the market. Changing lifestyle, growth in the penetration of online shopping especially in the developing economies, growing health consciousness and rising focus of the manufacturers on widening the product portfolio are other important factors acting as market growth determinants. Rising expenditure to undertake research and development proficiencies, increasing popularity of different cuisines, rising soy production and spurt in the number of hypermarkets and supermarkets will further induce growth in the market value.
However, excess consumption can lead to ill effects on the health owing to the presence of sodium in soy sauce and this will pose a major challenge to the growth of the market. High costs associated with the research and development proficiencies and with the establishment will also hamper the market growth rate. Fluctuations in the prices of raw materials and will yet again derail the market growth rate. Soy sauce contains some cancer forming substances and this will also act as market growth restraints.
This soy sauce market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on soy sauce market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Soy Sauce Market Scope and Market Size
The soy sauce market is segmented on the basis of product type, packaging type, distribution channel and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the global soy sauce market is segmented into blended soy sauce and brewed soy sauce.
- On the basis of packaging type, the soy sauce market is segmented into glass jars, flexible packs, plastic jars and others.
- On the basis of distribution channel, the soy sauce market is segmented into direct sales, supermarkets and hypermarkets, convenience stores, online stores and others.
- On the basis of application, the soy sauce market is segmented into household and food processing and food service industry.
Soy Sauce Market Country Level Analysis
The soy sauce market is analyses and market size, volume information is provided by country, product type, packaging type, distribution channel and application as referenced above.
The countries covered in the soy sauce market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific region dominates the soy sauce market and will continue to during the forecast period owing to the ever-rising population base in this region. Asia-Pacific is set to undergo substantial gains owing to the growth and expansion of food and beverages industry, rising consumption of snacks and increasing personal disposable income.
The country section of the soy sauce market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Soy Sauce Market Share Analysis
The soy sauce market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to soy sauce market.
The major players covered in the soy sauce market report are OTAFUKU SAUCE Co.,Ltd., YAMASA Corporation USA., Lee Kum Kee., Bourbon Barrel Foods, Masan Group., Kikkoman Corporation., Foshan Haitian flavouring & Food Co.Ltd.(Haitian), Amrapali Biotech., Sing Cheung Co., PRB BIO-TECH CO.,LTD, ABC USA., Aloha Shoyu Company., HIGETA SHOYU, SAN-J, Eden Foods, Kodanmal Group., SHODA SHOYU CO.,LTD., DREAM FOODS, Monggo Foods Co., Ltd. and Cargill, Incorporated among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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