Soy Sauce Market, by Packaging (Glass Jars, Plastic Jars, Flexible Packs, Others), Distribution Channel (Direct Sales, Online Stores, Convenience Stores, Supermarkets and Hypermarkets, Others), Process (Brewed, Blended), Type (Light Soy Sauce, Dark Soy Sauce, Others), End User (Retail, Food Manufacturer, Restaurants), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — Industry Trends and Forecast to 2030

The Global Soy Sauce Market is expected to value USD XX.XX million in 2021 and is estimated to grow at a CAGR of XX.X% during the forecast period. Soy sauce is a salty liquid condiment produced traditionally by fermenting wheat and soybeans. Ingredients required for making soy sauce are wheat, soybeans, salt, and fermenting agents like yeast or mold. Use of soy sauce by large number of Chinese hotels, cafes and restaurants for enhancing food flavor and seasoning ingredients is increasing rapidly. This is expected to drive the global soy sauce market growth.

Consumption of soy sauce during pregnancy can have adverse effects as soy sauce or soy products include phytoestrogens that can cause weak biological effects that can disturb the health of mother and child. As a result, reduced consumption can restrain the global soy sauce market growth. Also, soy sauce contains high amounts of amines which include tyramine and histamine. Consuming too much histamine can cause toxic effects, which can lead to headaches, rashes, itching, sweating, changes in blood pressure, or stomach pain. This factor is expected to pose a challenge to the global soy sauce market.

Manufacturers are introducing various flavors for soy sauce, such as chili and sweet, to meet consumer demands with innovative packaging such as pouch packs for easy use and attractive labels. This contributes to the product demand and opens new opportunities for the players operating in the soy sauce market.

Impact of COVID-19 on Global Soy Sauce Market

The emergence COVID-19 pandemic has led to many obstacles for various industries to operate in the competitive market. The COVID-19 outbreak had many adverse effects like cancellation in flights, restaurant closure, ban on travel and quarantine, restriction on events, and many more. This impacted the global soy sauce market highly, as every restaurant, cafe, the hotel was completely closed down due to guidelines from the government to curb the spread of coronavirus pandemic across the globe. As a result, the soy sauce market faced huge losses during the pandemic and is struggling to return to its normal pre-COVID situation.

TABLE 1: GLOBAL SOY SAUCE MARKET OVERALL SNAPSHOT

TABLE 1: GLOBAL SOY SAUCE MARKET OVERALL SNAPSHOT

Market Segmentation

The global soy sauce market report has been segmented by packaging, distribution channel, process, type, end user, and region.

FIGURE 2: GLOBAL SOY SAUCE MARKET SEGMENTATION

FIGURE 2: GLOBAL SOY SAUCE MARKET SEGMENTATION

Global Soy Sauce Market, by Packaging

Based on packaging, the global soy sauce market is segmented into glass jars, plastic jars, flexible packs, and others. Glass jars segment holds the largest market share for global soy sauce in 2021 and is estimated to remain largest market during the forecast period as glass material does not interact with packaged product.

Glass materials are nonporous and impermeable and have an almost zero rate of chemical interactions, so it does not affect the flavor of food and beverage. This factor is expected boost the segment growth.

Global Soy Sauce Market, by Distribution Channel

Based on distribution channel, the global soy sauce market is segmented into direct sales, online stores, convenience stores, supermarkets and hypermarkets, and others. The supermarkets and hypermarkets segment holds the largest market share in 2021 and is expected to remain largest during the forecast period. The segment growth can be because of easy availability and availability of various flavors in a large quantity with fresh stocks.

Global Soy Sauce Market, by Process

Based on process, the global soy sauce market is segmented into brewed and blended. Blended segment holds the largest market share for global soy sauce market in 2021 and is estimated to remain largest during the forecast period.

The segment growth can be attributed to cheap costs due to short fermentation process. Blending helps to modify the tastes and textures of sauces by adding sweet and savory taste additives. It also has a better shelf-life as compared to brewed soy sauces. All these factors are expected to drive segment growth during the forecast period.

Global Soy Sauce Market, by Type

Based on type, the global soy sauce market is segmented into light soy sauce, dark soy sauce, and others. Dark soy sauce segment holds the largest market share for global soy sauce in 2021 and is expected to remain largest during the forecast period. The segment growth can be because it contains a high viscosity level with less water content compared to others. Also, dark soy sauce has several nutrients benefits such as calcium, protein, phosphorus, and many others, which attracts consumers to demand more, contributing to market growth.

Global Soy Sauce Market, by End User

Based on end user, the global soy sauce market is segmented into retail, food manufacturer, and restaurants. Food manufacturer segment holds the largest market share for global soy sauce in 2021 and is expected to remain the largest market during the forecast period.

The segment growth can be attributed to extensive use of soy sauce in the food preparations, such as beef, dry mixes, bacon or cured meats, bread & rolls, cookies & cakes, and snacks. Also, the growing number of food chains, cafes, and restaurants across the world are contributing to the food manufacturer segment growth.

Global Soy Sauce Market, by Region

Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Among these, Asia Pacific holds the largest market share for soy sauce market in 2021 and is expected to remain largest market during the forecast period.

The Asia Pacific market is growing due to the maximum contribution by China. Increasing popularity of Chinese cuisines around the world is demanding various soy sauce flavors at a high-rate. This is expected to drive regional soy sauce market.

Additionally, North American market is also growing significantly due to the presence of major distributors and producers and high supply of non-additive and organic soy sauce in the region.

TABLE 2: GLOBAL SOY SAUCE MARKET OVERVIEW

TABLE 2: GLOBAL SOY SAUCE MARKET OVERVIEW

GLOBAL SOY SAUCE MARKET

FIGURE 3: GLOBAL SOY SAUCE MARKET (USD MILLION), 2021–2030

Recent Developments in the Global Soy Sauce Market

  • February 2021 – Kikkoman, top Japanese brand announced the official launch of Kikkoman India Private Limited operations in India, to be No. 1 in the Asian sauce market. Kikkoman is a leading producer of naturally brewed soy sauce for decades and has been preferred brand for soy sauce because of natural, pure and high-quality product offerings.

Market Segmentation:

By Packaging:

  • Glass Jars
  • Plastic Jars
  • Flexible Packs
  • Others

By Distribution Channel:

  • Direct Sales
  • Online Stores
  • Convenience Stores
  • Supermarkets and Hypermarkets
  • Others

By Process:

  • Brewed
  • Blended

By Type:

  •  Light Soy Sauce
  • Dark Soy Sauce
  • Others

By End User:

  •  Retail
  • Food Manufacturer
  • Restaurants

By Region:

North America Soy Sauce Market

  • North America, by Country
    • U.S.
    • Canada
    • Mexico
  • North America, by Packaging
  • North America, by Distribution Channel
  • North America, by Process
  • North America, by Type
  • North America, by End User

Europe Soy Sauce Market

  • Europe, by Country
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe 
  • Europe, by Packaging
  • Europe, by Distribution Channel
  • Europe, by Process
  • Europe, by Type
  • Europe, by End User

Asia Pacific Soy Sauce Market

  • Asia Pacific, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Asia Pacific, by Packaging
  • Asia Pacific, by Distribution Channel
  • Asia Pacific, by Process
  • Asia Pacific, by Type
  • Asia Pacific, by End User

Middle East and Africa Soy Sauce Market

  • Middle East and Africa, by Country 
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East and Africa
  • Middle East and Africa, by Packaging
  • Middle East and Africa, by Distribution Channel
  • Middle East and Africa, by Process
  • Middle East and Africa, by Type
  • Middle East and Africa, by End User

South America Soy Sauce Market

  • South America, by Country 
    • Brazil
    • Argentina
    • Rest of South America
  • South America, by Packaging
  • South America, by Distribution Channel
  • South America, by Process
  • South America, by Type
  • South America, by End User

Major Companies: In this report, the major companies studied are: ABC USA, Bourbon Barrel Foods LLC., Foshan Haitian Flavoring & Food Co. Ltd., Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd., Kikkoman Corp., Kum Thim Food Industries, Lee Kum Kee Co. Ltd., Otafuku Sauce Co. Ltd., Yamagen Jouzou Co. Ltd., Yamasa Corp.,

Objectives of this Report:

  • To estimate the market size for the soy sauce market on a regional and global basis
  • To identify major segments in the soy sauce market and evaluate their market shares and demand
  • To provide a competitive scenario for the soy sauce market with major developments observed by the key companies in the historic years
  • To evaluate key factors governing the dynamics of soy sauce market with their potential growth during the forecast period
  • To evaluate the leading company-wise pricing analysis for the mentioned applications

Key Questioned Answered in the Study:

  • What are major growth drivers and market trends that impacting on soy sauce market?
  • What the market size both in terms of value and volume for global soy sauce market?
  • Who are leading market players and who are the new market players that operate in the global soy sauce market with an estimated market share?
  • What are the future investment pockets and opportunity in the global soy sauce market?
  • Major list of customers and potential futuristic customer list along with an estimated buying volume
  • Impact of COVID-19 on global soy sauce market

Customization:

This study is customized to meet your specific requirements:

  • By sub-segment
  • By client-specific country, type, and application market analysis
  • Pricing analysis along with the potential list of customers
  • Product-specific competitive analysis

For more information, contact: sales@quincemarketinsights.com