Oyster Sauce Industry
The global oyster sauce market size is expected to reach USD 13.96 billion in 2030 and is projected to grow at a CAGR of 4.7% from 2024 to 2030. Growing popularity of Asian cuisine across the globe is one of the key factors driving the product demand. Oyster sauce is an integral part of Japanese, Chinese, Thai, Vietnamese, Indonesian, and Malaysian cuisines. The product has been gaining popularity due to its savory flavor, making it an ideal ingredient for flavoring different types of meats and vegetables. This is also likely to boost the product demand over the forecast period.
Moreover, companies in the market are focusing on product innovation, which will also have a positive impact on the demands. For instance, in April 2018, Maggi introduced its new product, Maggi Oyster Sauce, which is a blend of Japanese and Korean oyster flavors. Household application is expected to witness the fastest CAGR of 4.7% over the forecast period. Wide usage of oyster sauce in preparation of different cuisines and preference for homemade food due to growing culinary trends are driving the product demand in this segment.
Gather more insights about the market drivers, restrains and growth of the Global Oyster Sauce market
Oyster Sauce Market Segments Highlights:
- The Asia Pacific oyster sauce market dominated the global market in 2023 influenced by a mix of economic, cultural, and culinary factors.
- Supermarkets/hypermarkets dominated the market in 2023, providing a variety of brands and types in one convenient location.
- Rapid expansion of the organized retail sector and various offers and discounts provided in these stores are augmenting the product demand.
- Online channels are expected to register the fastest CAGR during the forecast period. This fast expansion is fueled by the growing trend of online shopping and the rising demand for easy shopping experiences.
Oyster Sauce Market Report Segmentation
Grand View Research has segmented the global oyster sauce market on the basis of application, distribution channel, and region:
Oyster Sauce Application Outlook (Revenue, USD Billion, 2018 - 2030)
Oyster Sauce Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)
- Convenience Stores
- Supermarkets/Hypermarkets
- Online
Oyster Sauce Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Latin America
- Middle East and Africa (MEA)
Key Oyster Sauce Company Insights
- Ajinomoto Co., Inc.
- Foshan Haitian Flavoring & Food Co. Ltd.
- Kikkoman Corporation
- Lee Kum Kee
- AB World Foods
- Nestlé
- MOTHER’S BEST
- Wing Soon Food Manufacturer Pte Ltd.
- KAKUSAN SHOKUHIN
- Ong's Food Industries Pte. Ltd.
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