LAMEA 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 Latin America, Middle East and Africa Soy Sauce Market would witness market growth of 6.9% CAGR during the forecast period (2019-2025).
Given a wide range of volatile and odorous compounds that have been identified in soy sauce, there is no strong aroma in the food product per se. Chinese soy sauces contain alcohols, esters, acids, aldehydes, phenols, ketones, heterocyclic compounds, alkynes, and benzenes. An explanation for this observation is that the soy sauce aroma is not largely dependent on the aroma-active compounds. The mild aroma is the result of a "critical balance" attained among all volatile and odorous compounds with relatively low concentrations. One of the primary drivers of the soy sauces market will be the increasing emphasis on expanding production capacity. Soy sauce products' growing consumer preference has boosted demand for soy sauces. Manufacturers are concentrating on expanding their production capabilities to meet the growing consumer demand.
Private label products are priced less than mainstream brands, making private-label goods a common choice among budget-conscious consumers. Private label players' market share is growing across all packaged food segments. Product innovations and constant product launches are helping to expand private label products in the global market for soy sauces. The major retailers and supermarket chains like Tesco, Walmart, Aldi, and others offer soy sauce products from private labels. The supermarket chains also allocate more storage space for their private label offerings and are also conducting in-store promotions and campaigns to raise their private label offerings' popularity. Therefore, in the forecast period, the rising private label brands across the market would help to grow the industry.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
- 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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