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 is a liquid condiment characterized by salty flavor that is prepared by the fermentation of soya beans, koji, brine, and roasted grain. It has a sharp taste, due to which it is extensively used in the preparation of various dishes across multiple cuisines. It is a rich source of antioxidants that helps in minimizing allergies, improving immunity, and promoting digestion. Widely available in thick, light, and dark sauce variants, soy sauce can be produced using both conventional and chemical processes across the globe.
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The market is primarily driven by the rising awareness regarding the widespread popularity of Asian cuisine on the global level. Along with the easy availability of a variety of flavored product variants and considerable growth in the food and beverage (F&B) industry, this is favorably impacting the market growth. Apart from this, the strategic collaborations among the key players to introduce new product variants, such as gluten-free and low-sugar soy sauce, and the easy product availability via online retail portals are further creating a positive outlook for the market. 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.
- Haitian
- Kikkoman Corporation
- Lee Kum Kee
- Nestle (Maggi Sauces)
- Masan Group
- Okonomi
- Otafuku Sauce
- Yamasa Corporation.
Market Segmentation:
Breakup by Type:
- Brewed
- Blended
Breakup by Packaging:
- Glass Jars
- Flexible Packs
- Plastic Jars
- Others
Breakup by Distribution:
- Direct Sales
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Application:
- Household
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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