The North America Soy Sauce Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,532.9 kilo tonnes, showcasing a growth of 5.6% (2019-2022).
In households, soy sauce is a kitchen staple renowned for its ability to add depth and complexity to a wide range of dishes. It serves as a versatile seasoning and condiment, enhancing the flavour of stir-fries, marinades, soups, noodles, rice dishes, and more. With its rich umami taste and salty-sweet undertones, sauce is prized for its ability to balance and harmonize flavours, making it a beloved ingredient in various cuisines. Therefore, US market consumed 274.0 kilo tonnes of Soy Sauce in household segment in 2022.
The US market dominated the North America Soy Sauce Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $12,797 million by 2030. The Canada market is experiencing a CAGR of 8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7% during (2023 - 2030).
The rise of plant-based diets and alternative ingredients has influenced product innovation in the market. Manufacturers are exploring sauce formulations that cater to the growing demand for plant-based and vegan options. By adjusting the brewing process or substituting traditional wheat with gluten-free grains, manufacturers create sauces that offer the same depth of flavor without compromising on dietary requirements.
Moreover, manufacturers are developing sauce formulations with reduced sodium content in response to health-conscious consumers. This aligns with the broader trend of promoting healthier eating habits and appeals to individuals mindful of their salt intake. The demand for organic and non-genetically modified organisms (GMO) products is rising. Some sauce manufacturers focus on sourcing organic ingredients and ensuring non-GMO certifications to cater to consumers who prioritize such attributes in their food choices.
Canada's growing food and beverage sector presents a favorable environment for the increasing demand. The Canadian food scene is marked by culinary innovation and a willingness to experiment with flavors. As per the data from the Government of Canada, in 2022, the food and beverage processing industry were the largest manufacturing industry in Canada in terms of production value, with sales of goods manufactured worth $156.5 billion. In 2022, processed food and beverage product exports reached a noteworthy $54.3 billion in value, reflecting a 14.1% growth compared to 2021. Thus, the rising food and beverage sector and household cooking trends in North America will boost the demand for sauce in the region.
Free Valuable Insights: The Soy Sauce Market is Predict to reach USD 73.2 Billion by 2030, at a CAGR of 6.1%
Based on Type, the market is segmented into Blended and Brewed. Based on Application, the market is segmented into Food Industry and Household. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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