Europe Soy Sauce Market By Type (Brewed and Blended) By Application (Food Industry and Household) By Country, Industry Analysis and Forecast, 2019 - 2025
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The Europe Soy Sauce Market would witness market growth of 4.6% CAGR during the forecast period (2019-2025). The global soy sauce market has experienced robust growth during the base period. Seasonings, dressings, and condiments are a major part of mainstream multi-cuisine in today's age as it raises the taste and flavor of food recipes. Growing concerns about consumer safety and interest in different taste patterns and changing behaviors are increasing demand for soy sauces. Busy lifestyles and growing workforce drive the demand for soy sauces among countries across regions. Preparing various multi-cuisine foods at home has expanded the global use of soy sauces.
The increased consumer inclination towards soy sauce products has provided the manufacturers with enormous growth opportunities to expand their production capabilities. These expansions will help businesses meet growing consumer demand for soy sauce products, which eventually leads to market growth.
The blended product segment represented the largest market share in 2018 and will hold the dominant position over the forecast years. Due to the limited fermentation process, blended products are relatively inexpensive and have a better shelf life than brewed soy sauces, which increases their demand. Mushroom dark and shrimp soy sauce are some of the popular blended soy sauces. On the other hand, the brewed product category is projected to record the highest CAGR over the forecast period. This growth is associated with the increasing awareness of the nutritional values of the product and the demand for functional foods.
In soy sauce sales, packaging plays a significant role as it ensures that the taste, flavor, color, product quality, texture, and shelf life are retained. Soy sauce's shelf-life is highly dependent on the ingredients, methods of processing, as well as procedures of packaging. Therefore, several leading companies are working with packaging manufacturers to build up advanced packaging technology to ensure product quality and longer shelf life for their products. This will enable producers to widen their consumer base.
The increase in new product launches, together with the surging innovations in packaging, is another factor driving market growth. Expansion of regional and international players launching new product launches such as Ponzu Citrus Soy Sauce will support the growth of the global market for soy sauces. In addition, soy sauce manufacturers are pursuing innovative distribution strategies that include the release of various products to match local tastes. During the forecast period, these innovative product releases are expected to fuel global market growth.
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 countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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 Soy Sauce Market Analysis
- Food Industry
- Rest of Europe
- 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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