Soy Sauce Powder Market is anticipated to expand at a healthy CAGR of over 6% from 2020 to 2030 - Persistence Market Research

NEW YORK, April 14, 2021 /PRNewswire/ -- Soy sauce powder is primarily used as a flavor enhancer, contains amino acid, and is known to offer a unique Asian flavor, which is widely used in a number of food applications. Spray drying is one of the most commonly used processes for the conversion of soy sauce to soy sauce powder, so as to retain its flavor and texture. Processing of soy sauce to soy sauce powder also reduces the unpleasant oxidation and charring odor of soy sauce. Powdered soy sauce is water-soluble, which makes it easy to blend with all other ingredients, and is widely used in soups, dry mixes, snack coatings, and seasonings.

Extended shelf life, easy transport, and minimum storage costs are major factors for the surge in demand for soy sauce in the powdered form. Powdered soy sauce is a convenient format with increased flexibility and functionality for further processing into a wide range of products. As such, economic benefits, transport efficiency, high stability, and better functionality is expected to drive the growth of the soy sauce powder market at a CAGR of over 6% through 2030.

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Key Takeaways from Market Study

• The soy sauce powder market is set to witness a substantial 1.7X volume growth over the forecast period of 2020 to 2030, owing to its high functionality and shelf life.
• Geographically, the region of North America dominates the market in terms of volume, owing to increasing sales of ready-to-consume products due to the fast-paced life of consumers.
• Demand for soy sauce powder is expected to be high from emerging economies of South Asia, including India, Thailand, Malaysia, and Indonesia, owing to increased consumer preference for Chinese and Japanese cuisine as a staple food in these countries.
• Trends such as 'meal time solutions' and increased penetration of world cuisine-influenced ready-meals have contributed to the rising sales of soy sauce powder.
• The outbreak of COVID-19 created a gap between global demand and supply of food, leading to the emergence of problems in global food markets. However, the impact of the pandemic on soy sauce powder is expected to be moderate owing to increased demand for shelf-stable and healthy food ingredients.
• Application of soy sauce powder in soups and sauces to hold over one-third overall market share.
• Business to business sales to hold over 85% global market share.
• The market in the U.K., China, and the U.S. to expand at over 6% CAGR, respectively, while that in India at close to 9% through 2030.

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"Key players engaged in the production of soy sauce powder are emphasizing on fulfilling the increasing demand for new flavors from food & beverage manufacturers. High acceptance of soy sauce powder by key players operating in the food industry can be justified by its subtle taste profile and rare versatility," says a Persistence Market Research analyst.

Competitive Landscape

Soy sauce powder manufacturers are strategically positioning their products by participating in food-based product summits and food ingredient exhibitions, and showcasing the application of soy sauce powder in the food processing industry.

• In 2019, AIPU Food Industry Co., Ltd. participated in Food Ingredients South America (FiSA 2019) held in Sao Paulo, Brazil. With this participation, the company connected to potential buyers and generated meaningful leads. It helped the company strengthen its position in the international market.
• In 2015, Beijing Shenglun Food Co., Ltd. participated in the Supplier Conference of Tiens Group. This participation was aimed at developing innovative supply strategies, new technologies and new resources, and further improve supply efficiency.

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Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global soy sauce powder market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the market based on nature (organic and conventional, application (soups and sauces, dips and seasonings, snacks and convenience foods, meat and seafood, and others), and distribution channel (business to business and business to consumer), across seven major regions of the world.

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