Authored By: Sarah
11 Jul 2024

 Oyster Sauces Market Size to grow by USD 2151 million between 2024-2028

According to a research report “ Oyster Sauces Market” by End-user (Retail, Foodservice) Distribution Channel (Offline, Online) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2151 million, at a CAGR of  4.36% during the forecast period. The global oyster sauces market is set to experience significant growth due to new product launches by both regional and international players. Manufacturers are implementing strategic innovations and distribution channels to expand their market reach and consumer base. Successful product introductions not only boost a vendor's revenue but also enhance their market share and provide a competitive edge. For instance, in April 2022, Kikkoman Corp. introduced a vegetarian oyster sauce in India, catering to both vegetarian and non-vegetarian consumers, thereby broadening their consumer pool and market presence.

Browse market data tables, figures, and in-depth TOC on “Oyster Sauces Market” by End-user (Retail, Foodservice) Distribution Channel (Offline, Online) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Retail segment is projected to dominate the market size in 2024

In the Oyster Sauces Market, traditional offline sales channels include hypermarkets, supermarkets, clubhouse stores, department stores, and independent retailers. However, the revenue from this segment has been decreasing due to the growing trend towards online shopping. To counteract this, retailers are implementing competitive pricing strategies and expanding product offerings. Manufacturers continue to sell their oyster sauces through these established retail formats, as well as specialty stores. The market landscape is evolving, necessitating strategic adaptations to remain competitive.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024

The global retail market for oyster sauces is projected to expand steadily over the forecast period. This growth can be attributed to the increasing popularity of oyster sauces in various Asian dishes, particularly Chinese and Japanese cuisine, such as noodles and fried rice. With the widespread globalization and the adoption of diverse culinary preferences, Asian dishes have gained significant traction worldwide. Oyster sauce, with its rich umami flavor, functions as an all-purpose seasoning, making it a preferred choice for many consumers. Its extensive use in stir-fries is a significant factor fueling the market's expansion.

APAC is forecasted to hold the largest market size by region in 2024

The Oyster Sauce Market represents a significant business opportunity, driven by its widespread usage in various culinary applications. This condiment's unique umami flavor derived from oysters makes it an essential ingredient in Asian cuisines, particularly Chinese and Vietnamese. Market growth is fueled by increasing consumer preference for authentic Asian food and the expanding foodservice industry. Manufacturers focus on product innovation, including low-sodium and organic options, to cater to diverse consumer needs.

The Oyster Sauces Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Ajinomoto Co. Inc.
  • Associated British Foods Plc
  • Bachun Food Industries Pte Ltd.
  • Daesang Corp.
  • Foodex Manufacturer Co. Ltd.
  • Foshan Haitian Flavoring and Food Co. Ltd.
  • HDR Foods Corp.
  • Kakusan Foods Co. Ltd.
  • Kikkoman Corp.
  • Lee Kum Kee Co. Ltd.
  • Malabar Food Products
  • Marine Resources Development Co. Ltd.
  • MGM Blendwell Corp.
  • Nestle SA
  • NutriAsia Inc.
  • Sin Tai Hing Oyster Sauce Factory Sdn Bhd
  • Thai Preeda Trading Co. Ltd.
  • Wing Soon Food Manufacturer Pte Ltd.
  • Yuen Chun Industries Sdn Bhd
  • Zhangzhou Hang Fat Import and Export Co. Ltd.
.

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Research Analysis Overview

Oyster sauce is a popular condiment in Asian cuisine, known for its savory, umami flavor. It is commonly used as a marinade, dipping sauce, or ingredient in stir-fries, soups, and Chinese dishes. Oyster sauce is traditionally made from oysters, water, sugar, and cornstarch, but vegetarian and vegan alternatives are also available, made from mushrooms or other plant-based ingredients. Despite its delicious taste, oyster sauce can contain high levels of carbohydrates and calories, making it less suitable for those following a healthy lifestyle. A single tablespoon of oyster sauce can contain around 1.5 grams of carbohydrates and 15 calories. Consumers' taste preferences continue to drive the demand for oyster sauce in home cooking, quick-service outlets, cafes, and restaurants. The organized retail sector, including hypermarkets and supermarkets, is a significant contributor to the growth of the oyster sauce market. Meats and vegetables are common ingredients used in dishes prepared with oyster sauce. Bacon or cured meats are also popular additions, adding to the overall calorie count. However, the food service industry is increasingly offering healthier options, such as low-sodium or sugar-free oyster sauce alternatives, to cater to consumers seeking a healthy lifestyle. In conclusion, oyster sauce is a versatile and flavorful ingredient in Asian dishes, but it can be high in carbohydrates and calories. Consumers' taste preferences, the growth of the organized retail sector, and the increasing demand for healthy alternatives are key trends shaping the oyster sauce market.

Market Research Overview

Title: Oyster Sauce Market: Trends, Consumers, and Competition in the Snack Food Industry The oyster sauce market is a significant player in the snack food industry, with applications ranging from dipping sauces and meat marinades to soups and dishes. This market includes various alternatives to traditional oyster sauce, such as soy sauce, fish sauce, and vegan options. Key components of oyster sauce include selenium, copper, zinc, iron, vitamin D, and vitamin B12. However, oyster sauce is high in fat, carbohydrates, and calories. Consumers' taste preferences and dietary needs drive the demand for clean label, canned, bio-based, vegan, and organic oyster sauces. Price analysis, raw material prices, inflation, and labeling are crucial factors influencing the oyster sauce market. Millennials and health-conscious consumers seek functional foods and healthy lifestyles, driving demand for plant-based alternatives. Key players in the market include Kikkoman Corp, with concerns over overfishing, pollution, and shellfish allergies leading to the development of vegetarian oyster sauce. The organized retail sector, including hypermarkets and supermarkets, home-cooked food, and food service industry, are significant consumers of oyster sauce. Marketing campaigns, health-conscious trends, and the growing popularity of Asian restaurant chains, quick-service outlets, cafes, and restaurants further fuel the market's growth. Oyster sauce alternatives, such as plant-based diets, cater to diverse dietary preferences and expanding consumer base. In conclusion, the oyster sauce market is a dynamic and evolving industry, driven by consumer preferences, health trends, and competition. Companies must focus on authenticity, versatility, and sustainability to meet the demands of the modern consumer.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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