According to IMARC Group’s latest report, titled “Soy Sauce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global soy sauce market reached a value of US$ 43 Billion in 2020. Soy sauce refers to a condiment produced from fermented soybean, wheat, and fermenting agents like mold or yeast. It is mixed with cultured molds such as Aspergillus and left to develop and age for a few days or months. Soy sauce is brown in color and is used as a marinade and braising liquid for meat, cooking stews, soups, vegetables, and noodles to add salt and flavor according to the preferred tastes of individuals.
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The global soy sauce market is primarily driven by its increasing demand as a seasoning ingredient and flavor enhancer across food manufacturers, retail chains, and restaurants. It is also a crucial ingredient in various cuisines such as Japanese, Thai, Chinese, Vietnamese, and Malaysian. Furthermore, the associated health benefits of soy sauce that aid in reducing allergies, improving digestion and boosting immunity is also increasing the demand for soy sauce across the globe. Moreover, several manufacturers are launching new product variants of soy sauce, such as the Less Salt version of Kikkoman Company, which is attracting a broader consumer base. These factors are expected to significantly impact the market growth in the coming syears. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.8% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Bourbon Barrel Foods
- Foshan Haitian Flavoring & Food
- Guangdong Meiweixian Flavoring Foods Co., Ltd.
- Kikkoman Corporation
- Lee Kum Kee
- Nestle (Maggi Sauces)
- Masan Group
- Otafuku Sauce
- Yamasa Corporation.
Breakup by Type:
Breakup by Packaging:
- Glass Jars
- Flexible Packs
- Plastic Jars
Breakup by Distribution:
- Direct Sales
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
Breakup by Application:
- Food Processing and Food Service Industry
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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