Registering a CAGR of 8.6% over the forecast period of 2022-2027, the global Soy Sauce market size is anticipated to reach the market value of USD 2282.3 million in the year 2027 from USD 1099.6 million in the year 2021.
Soy Sauce Market Overview
The global soy sauce market size is projected to reach at USD 59.12 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 8.6% over the forecast period due to cumulative product request as a flavour enhancer from food retail chains and restaurants. Soy sauce is a key ingredient of many popular and emerging world cuisines like Japanese, Chinese, Thai, Vietnamese, Indonesian, and Malaysian. Rising health awareness along with rising popularity of above-mentioned cookeries crossways the globe will boost the product demand. Furthermore, key businesses are launching new products, which will boost the request further. For instance, Kikkoman hurled Less Salt version of its naturally prepared soy sauce.Soy sauce is a salty liquid condiment that is used in the research of various dishes in multiple cuisines. It is manufactured using the fermented paste of soybeans, brine, roasted grains, salt, water, and Aspergillus soju molds. It can be formed using both traditional and chemical processes and is known to be a rich source of antioxidants that aids in minimizing allergies, helping digestion, and improving immunity. Thick, dark and light are the most commonly available soy sauce variants, which are widely used in the preparation of dry mixes, cakes, breads, cured meat, dressings and savory snacks. Also, soy sauce forms an essential ingredient in many emerging and traditional world cuisines, including Thai, Japanese, Indonesian, Chinese, Malaysian and Vietnamese.
Important growth in the food and beverage industry across the globe is one of the key factors driving the growth of the market. In line with this, soy sauce is expansively utilized by hotels, restaurants and cafes as a flavor enhancer and seasoning ingredient by hotels, restaurants and cafes, is also providing a boost to the market growth.
Who are the Major Players in Soy Sauce Market?
The global Soy Sauce Market includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Haitian, Kikkoman, Shinho, Yamasa, Lee Kum Kee, Meiweixian, Shoda Shoyu, Jiajia, PRB BIO-TECH, ABC Sauces, Bragg Live Food, Nestlé.
Industry News and Development:
April 4, 2022: The world's leading producer of naturally brewed soy sauce, Kikkoman Corporation, announces the introduction of the first set of recipes co-created with several top chefs in India. Kikkoman seeks to promote new encounters between ingredients, people, and food cultures, something that Kikkoman has focused on for decades around the world.
March 23, 2021: Bragg Live Food Products collaborate to launch 16oz glass beverage bottle
Bragg Live Food Products partnered to introduce a new 16oz glass bottle for its line of apple cider vinegar beverages.The 16oz glass non-alcoholic beverage bottle for Bragg features a lug finish and is designed by Ardagh and manufactured in the U.S.
What are the major Applications, Types and Regions for Soy Sauce Market?
Soy Sauce Market is segmented based on the Type, Applications and Regions.
By Type, it is segmented into
By Applications, it is segmented into
- Household
- Catering Service Industry
- Food Processing
Soy Sauce Market Regional Analysis
Asia-Pacific region dominates the soy sauce market and will continue to during the forecast period owing to the ever-rising population base in this region. Asia-Pacific is set to experience substantial gains owing to the growth and expansion of food and beverages industry, rising consumption of snacks and increasing personal disposable income.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Soy Sauce Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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CAGR of 8.6% during the review period (2022 to 2027).
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By Type
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By Application
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- Household
- Catering Service Industry
- Food Processing
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By Companies
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Haitian, Kikkoman, Shinho, Yamasa, Lee Kum Kee, Meiweixian, Shoda Shoyu, Jiajia, PRB BIO-TECH, ABC Sauces
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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175
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Soy Sauce Report
- Evaluate Soy Sauce market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end-use applications, and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor's performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Soy Sauce market entropy - M&A's, deals, partnerships, product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
All our reports are custom made to your company's needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
Frequently Asked Question -
What is the study period of this market?
The Soy Sauce Market is studied from 2017-2027.
Who are the prime players in the Soy Sauce Market?
Haitian, Kikkoman, Shinho, Yamasa, Lee Kum Kee, Meiweixian, Shoda Shoyu, Jiajia, PRB BIO-TECH, ABC Sauces
Which region held the largest share in the Soy Sauce Market?
United States, Europe, China, Japan, Southeast Asia, India and Rest of World
What are the significant types of Soy Sauce Market?
Brewed, Blended
What are the major applications of Soy Sauce Market?
Household, Catering Service Industry, Food Processing
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
