Soy sauce is one of the main ingredients of several popular and upcoming global cuisines like Chinese, Malaysian, Indonesian, Vietnamese, Thai, and Japanese. Plus, consumers are turning health conscious with the passage of time. As of now, soy sauce is used for preparing foods like beef, dry mixes, cookies & cakes, bread & rolls, bacon/cured meat, dressings, and various snacks.
High salt consumption has given rise to loads of health concerns; which is catalyzing the demand for less-salty food. This factor is likely to impact the soy sauce market positively in the next 5-7 years. Plus, key players are on the new product launch spree. For instance, the U.S. alone witnessed the launching of 200 products in the year 2016. Plus, Kikkoman did launch its naturally brewed soy sauce’s “Less Salt Version” around the same time. The novel product has retained the taste of the food along with dropping off salt content by around 43%.
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The soy sauce industry is segmented by type, application, and geography. By type, it spans blended and brewed. By application, it says household and food industry. By geography, it states North America (U.S.), Europe (Germany, UK), Asia Pacific (China, Japan), Central & Latin America (Brazil), and MEA. The Asia Pacific is the leader due to the reasons mentioned above. North America, Europe follow suit. LATAM is also catching up due to Brazil soon coming out of the “BRICS” gambit. The other players contributing to the soy sauce market include Lee Kum Kee, YAMASA Corporation, OTAFUKU SAUCE, Foshan Haitian Flavoring & Food, and Bourbon Barrel Foods.
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