Oyster Sauce Market

Global Oyster Sauce Market Size, Share & Trends Analysis Report By Product Type (Non-MSG Oyster Sauce and Vegetarian Oyster Sauce) By Distribution Channel, By Application (Commercial and Household), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-25159 Publication Date: October-2024 Number of Pages: 296
2023
10.1 Billion
2031
23.9 Billion
CAGR
12.3%
Historical Data
2020 to 2022

“Global Oyster Sauce Market to reach a market value of 23.9 Billion by 2031 growing at a CAGR of 12.3%”

Analysis of Market Size & Trends

The Global Oyster Sauce Market size is expected to reach $23.9 billion by 2031, rising at a market growth of 12.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 23,873.3 tonnes, experiencing a growth of 12.6% (2020-2023).

Countries like China, where oyster sauce is a staple in home cooking and restaurant offerings, significantly contribute to the high demand in the region. The expanding middle class in many Asia Pacific countries and a growing interest in international cuisines have also supported the continued popularity of oyster sauce. Therefore, the Asia Pacific region generated 50% revenue share in the oyster sauce market in 2023. In terms of volume the Asia pacific region is expected to utilize 1,263,192.3 tonnes of oyster sauce by 2031. This region is the birthplace of oyster sauce and remains a key market due to its deep-rooted culinary traditions that heavily incorporate this sauce into various dishes.

Oyster Sauce Market Size - Global Opportunities and Trends Analysis Report 2020-2031

As consumers seek to recreate authentic flavours at home, the demand for oyster sauce has surged. Oyster sauce is renowned for its rich umami flavour, which enhances the taste of various dishes. The rising appreciation for umami as a key taste has driven interest in ingredients that provide this savoury quality. Asian cuisines often utilize oyster sauce in stir-fries, marinades, and dipping sauces, making it an essential component for achieving the desired flavour profiles in these dishes. As consumers become more aware of umami, the demand for oyster sauce continues to grow. Additionally, the expansion of the food and beverage industry is also marked by continuous innovation in product development. This includes the introduction of organic, gluten-free, and low-sodium versions of oyster sauce to cater to diverse dietary preferences. In conclusion, expansion of the food and beverage industry is propelling the growth of the market.

However, the impact of allergic reactions and dietary restrictions can lead to segmentation within the food market, creating niche opportunities but also restricting the overall consumer base. Brands may need to invest in developing specialized products, such as gluten-free or allergen-free sauces, to cater to these niches. While this can create new opportunities, it also requires additional resources for product development, marketing, and education about these alternatives, which can be a challenge for smaller manufacturers. Therefore, allergic reactions and dietary restrictions limiting consumer base is hampering the growth of the market.

Driving and Restraining Factors
Oyster Sauce Market
  • Rising demand for convenient and ready-to-cook meal options
  • Growing popularity of Asian cuisine and culinary trends
  • Expansion of the food and beverage industry
  • Allergic reactions and dietary restrictions limiting consumer base
  • Fluctuating raw material prices affecting production costs
  • Increasing interest in cooking shows and food influencers
  • Growth of e-commerce and online grocery shopping
  • Intense competition from alternative sauces and condiments
  • Environmental concerns regarding seafood sourcing

Application Outlook

Based on application, the market is divided into commercial and household. The household segment procured a 36% revenue share in the market in 2023. In terms of volume 753,102.1 tonnes of oyster sauce is expected to be utilize in household application by 2031. This segment includes sales for personal or family use, reflecting a growing trend of home cooking and experimentation with international flavours.

Distribution Channel Outlook

On the basis of distribution channel, the market is segmented into convenience stores, supermarkets/hypermarkets, and online. The supermarkets/hypermarkets segment recorded 43% revenue share in the market in 2023. Thus, 836,141.0 tonnes of oyster sauce are expected to be sold by supermarket/hypermarket by 2031. This segment thrives on its ability to offer various products, including different oyster sauce brands and types.

Oyster Sauce Market Share and Industry Analysis Report 2023

Product Type Outlook

Based on distribution channel, the market is divided into hypermarkets & supermarkets, convenience stores, specialty stores, online, and others. The hypermarkets & supermarkets segment garnered 40% revenue share in the market in 2023. In terms of volume, 30,658.0 tonnes of Hypermarkets and supermarkets provide a convenient shopping experience with a vast variety of product options, including different brands and packaging sizes of tomato powder.

Free Valuable Insights: Global Oyster Sauce Market size to reach USD 23.9 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 24% revenue share in the market in 2023. In terms of volume the North America region is expected to utilize 376,624.5 tonnes of oyster sauce by 2031. The growing popularity of Asian cuisine in North America has driven an increase in the consumption of oyster sauce, with consumers incorporating it into various dishes ranging from stir-fries to marinades.

Oyster Sauce Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 10.1 Billion
Market size forecast in 2031 USD 23.9 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 12.3% from 2024 to 2031
Quantitative Data Volume in Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031
Number of Pages 296
Number of Tables 669
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Product Type, Distribution Channel, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Ajinomoto Co., Inc., Lee Kum Kee Company Limited, Pearl River Bridge, Nestle S.A. (Nestlé India Limited), Amoy Food Ltd., Foshan Haitian Flavoring & Food Co. Ltd., Megachef (Marine Resources Development Co.,Ltd.), Pantainorasingh Manufacturer Co.,Ltd. and MOTHER'S BEST
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

List of Key Companies Profiled

  • Ajinomoto Co., Inc.
  • Lee Kum Kee Company Limited
  • Pearl River Bridge
  • Nestle S.A. (Nestlé India Limited)
  • Amoy Food Ltd.
  • Foshan Haitian Flavoring & Food Co. Ltd.
  • Megachef (Marine Resources Development Co.,Ltd.)
  • Pantainorasingh Manufacturer Co.,Ltd.
  • MOTHER'S BEST

Oyster Sauce Market Report Segmentation

By Product Type (Volume, Tonnes, USD Billion, 2020-2031)

  • Non-MSG Oyster Sauce
  • Vegetarian Oyster Sauce

By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Online
  • Other Distribution Channels

By Application (Volume, Tonnes, USD Billion, 2020-2031)

  • Commercial
  • Household

By Geography (Volume, Tonnes, USD Billion, 2020-2031)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 600-5072

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo