The Global Soy Sauce Market size is expected to reach $55,896.2 Million by 2025, rising at a market growth of 5.6% CAGR during the forecast period
NEW YORK, Jan. 14, 2020 /PRNewswire/ --
The Global Soy Sauce Market size is expected to reach $55,896.2 Million by 2025, rising at a market growth of 5.6% CAGR during the forecast period. Soy sauce or Soya sauce is a liquid condiment that originated from China and is produced from fermented soybean paste, brine, roasted grain, and Aspergillus oryzae or Aspergillus soybean molds. During the Western Han dynasty of ancient China, soy sauce in its present form was created around 2,200 years ago and spread across East and Southeast Asia where it is used in cooking and as a condiment.
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It is one of the world's oldest condiments made from fermented soybeans combined with wheat, barley, or rice. It's basically made by boiling soybeans and fermenting them. For weeks, the soybeans are then coated with salted water. This results in a thin reddish-brown liquid with flavors of salt and umami. This is a key ingredient in Asian seasoning. This is a highly flexible crop that can be pickled and fermented to make soy milk. It is sometimes used to make tofu by the curdling process.
Increasing demand from food retail chains, food manufacturers, and restaurants as a flavor enhancer and seasoning ingredient drive this market's growth. It is also a key ingredient in many traditional and emerging world cuisines, including Japanese, Thai, Chinese, Indonesian, Vietnamese, and Malaysian cuisine. The understanding of health along with the increasing popularity of the above-mentioned cuisines around the globe is expected to fuel demand for the product. Soy sauce is used to prepare foods like beef, bacon/cured meats, bread & rolls, dry mixes, cookies & cakes, snacks, dressings, and many others.
The food industry is projected to be the fastest-growing application segment during the forecast period accounting for a dominant market share. This growth has been associated with the widespread use of soy sauce in food preparation like beef, bacon/cured meats, bread & rolls, cookies & cakes, dry mixes, and snacks. In addition, there is an estimated increase in the number of restaurants and food chains around the globe to fuel consumer demand in this market.
Manufacturers are undergoing enormous growth opportunities owing to the increasing customer demand for soy sauce products. Such manufacturers are well placed to meet the growing demands of consumers across the markets as they broaden their manufacturing capabilities to meet this increasing demand. Soy sauce producers have innovative and distributive strategies. Due to various successful new product launches, the market is expected to see exponential growth. A successful launch of a new product extends the vendors' customer base and helps them boost their revenue flow.
Based on Type, the market is segmented into Brewed and Blended. Based on Application, the market is segmented into Food Industry and Household. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Foshan Haitian Flavoring & Food Co., Ltd. (Guangdong Haitian Group Co., Ltd.), Kikkoman Corporation, Masan Group Corporation, Bourbon Barrel Foods LLC, Lee Kum Kee Company Limited, Otafuku Sauce Co., Ltd., Nestle S.A. (Maggi), Yamasa Corporation, Aloha Shoyu Company, and Guangdong Meiweixian Flavoring Foods Co., Ltd.
Scope of the Study
Market Segmentation:
By Type
• Brewed
• Blended
By Application
• Food Industry
• Household
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Foshan Haitian Flavoring & Food Co., Ltd. (Guangdong Haitian Group Co., Ltd.)
• Kikkoman Corporation
• Masan Group Corporation
• Bourbon Barrel Foods LLC
• Lee Kum Kee Company Limited
• Otafuku Sauce Co., Ltd.
• Nestle S.A. (Maggi)
• Yamasa Corporation
• Aloha Shoyu Company
• Guangdong Meiweixian Flavoring Foods Co., Ltd.
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• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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