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Soy Sauce Powder Market Segmented By Organic and Conventional Nature in Soups and Sauces, Dips and Seasonings, Snacks and Convenience Foods, Meat and Seafood
The market for soy sauce powder can be expected to expand at a value based CAGR of 5.5% and show an increase in revenue from US$ 349.9 Mn to around US$ 596.3 Mn by 2033.
Soy Sauce Powder Market Size (2023E)
US$ 349.9 Mn
Projected Sales of Soy Sauce Powder (2033F)
US$ 596.3 Mn
Value CAGR (2023-2033)
Value Share of Top 4 Countries (2022E)
The global soy sauce powder market has witnessed significant growth in the historical period registering a CAGR of 5.9% in the historical period and was valued at US$ 349.9 Mn in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of soy sauce powder.
Increased demand for products with long shelf and ease in transportation of soy sauce powder are expected to increase its demand during the forecast period with an expected value CAGR of more than 6%. Increasing awareness regarding the health benefits of naturally fermented soy sauce powder, such as being rich in amino acid and protein, is drawing consumer attention towards adding it as a seasoning for enhancing flavor in different food products. Increased demand for healthy and palatable food coupled with growing adoption of Chinese and Japanese cuisines in Western regions is propelling demand for convenient and long shelf life-enabling soy sauce powder. Wide application of soy sauce powder in sauces, dips, gravies, soups, snacks, seasoning mixes is further expected to contribute toward high-value growth of soy sauce powder during the forecast period.
The global market for soy sauce powder is estimated to reach an approximate valuation of US$ 596.3 Mn in the forecast period.
“Increasing Consumer Preference for Umami Flavor Benefitting Demand for Soy Sauce Powder”
Increasing demand for nutritious yet savory food is one of the major factors that has triggered the growth of the umami flavor market, and as umami type flavor offers excellent palatability, it is now widely used in bouillons and a variety of seasonings and blends. Umami type flavor is described as the fifth flavor apart from the traditional four flavors of bitter, sweet, sour, and salty, and imparts a ‘savory taste’ to food. Umami flavor is considered to be a game-changer in the evolution of formulations for sodium reduction. A variety of umami flavors can be utilized to successfully reduce sodium or salt content in food and drink products. For instance, according to the Glutamate Association, MSG can lower the content of sodium in a product by approximately 40%, while still maintaining the desired flavor. Yeast extracts, hydrolyzed proteins, and soy sauce powder are some of the most widely used umami-generating or enhancing ingredients in food and drink manufacturing to develop vegan or vegetarian products or meals that offer savory flavor, which can be used as suitable meat substitutes.
“Changing Landscape of the Global Foodservice Industry Triggering Demand Growth”
The foodservice industry has witnessed tremendous growth over the past decade, owing to factors such as rising disposable income and introduction of innovative food products. Busy lifestyles and increasing working populations are also key factors in the sector’s growth. Changes in consumer tastes and behaviours have also contributed to growing consumer preference for restaurants and other foodservice outlets.
Soy sauce powder falls under the versatile food ingredients category, which can be utilized in multiple applications. The foodservice industry has been using soy sauce powder as an ingredient in flavorings, salad dressings, noodles, dipping sauces, soups, and others. Furthermore, various health benefits associated with naturally fermented soy sauce have made it a vital ingredient for players in the foodservice industry that seek to target health-conscious consumers, thus driving growth of the market.
“‘On-the-go Snacking’ Trend Influence Sales”
Rapid urbanization, rise in working population, increased participation of women in the global workforce, and rapidly changing consumer lifestyles are some of the major factors that have led to a keen inclination toward convenient food products, ready-to-eat meals, and fast food products. Convenient food products are gaining immense popularity and becoming essential in urban kitchens, as they prove to be a great time-saver for consumers with hectic lifestyles.
Increased preference for soy sauce powder in convenience food products is attributable to its vibrant flavor and health-beneficial properties. Majority of the key players engaged in the manufacturing of convenient food products are utilizing soy sauce powder as a major ingredient in different food products, which is widely being accepted by consumers across the globe. Demand for soy sauce powder is triggered by increasing demand for snacks, soups, marinades, seasoning blends, and other food products, so as to enhance the flavor and umami taste in these products.
“Increasing Preference for Gluten-free Products”
Gluten-free diets are gaining popularity amongst consumers due to their claimed benefits such as improving health, increased energy, and weight loss. The number of consumers who are allergic to gluten is increasing, thus driving the market for gluten-free food. Customer preferences have been influenced by the growing rate of population being affected by various diseases due to the consumption of gluten, such as celiac, infertility, neurological disorders, and others. With celiac disease becoming more prevalent, consumption of gluten-free food is rising.
Traditional soy sauce processing involved soybeans along with roasting and crushing wheat, pushing gluten-intolerant customers away. However, manufacturers of soy sauce powder have introduced gluten-free soy sauce powder that includes only soybeans, thus attracting customers demanding gluten-free products.
“Key Challenges Faced by Soy Sauce Powder Manufacturers”
The time required for fermentation of natural soy sauce is approximately five to eight months, which makes it difficult for soy sauce manufacturers to keep up with the demand. Majority of key players opt for acid hydrolysis, a chemical production that fastens the production of soy sauce, and completes the fermentation process within a period of few days. This process includes heating soybeans to 80°C and mixing them with hydrochloric acid, which leads to the breaking down of proteins present in the soybeans and wheat. Thus, the resulting soy sauce product is less attractive in terms of nutritional content and taste as compared to naturally fermented soy sauce products. Apart from this, the process also produces some undesirable compounds that are not present in naturally fermented soy sauce products. As a much faster and cheaper way of making soy sauce, manufacturers are increasingly opting for chemical hydrolysis, repelling customers demanding natural and healthy soy sauce powder.
Why is China a Prominent Market for Soy Sauce Powder?
According to the Food and Agriculture Organization, China accounted for approximately 60% of the global production of soy sauce, and is one of the major exporters to some of the most developed countries across the globe. Easy availability of raw material country makes it a large potential market for soy sauce powder manufacturers. High productivity of soy sauce in China ensures the availability of adequate raw material throughout the year. China primarily exports a majority of its soy sauce produce to key players engaged in the production of soy sauce powder in developed counties across the globe. Soy sauce manufacturers in China are also emphasizing on increasing the productivity of gluten-free soy sauce powder to fulfil the ever-increasing demand for gluten-free products.
What are the Potential Growth Opportunities for Soy Sauce Powder Manufacturers in the U.S.?
Rising Asian population in the U.S. and their impact on the local food scene are expected to bolster sales of soy sauce powder in the country. The number of Japanese and Chinese restaurants in the U.S. offering ethnic cuisines that use different ingredients is increasing. Soy sauce powder is one of the major ingredients in Chinese and Japanese cuisines. Ready-to-cook soups with soy sauce powder are also gaining increased penetration in the U.S., attributed to the hectic lifestyle of consumers and increased participation of women in the global workforce, leading to increased demand for convenient and tasty food.
Demand is also attributable to rising consumption of salads and dressings in the U.S., along with increased consumption of meat products. Soy sauce powder is known to add flavor to these food products while acting as a natural preservative in meat products. Rising popularity of ethnic food coupled with the easy availability of soy sauce powder in supermarkets across the country is expected to fuel market growth in the U.S. Thus, with increasing foodservice providers and food and beverage manufacturers conveying authenticity with ingredients and preparation styles to capitalize on the demand for global flavors, the market for soy sauce powder in the U.S. is expected to witness robust growth.
Why is India Set to Experience High Volume Growth Over the Forecast Period?
The Indian food processing industry is expected to create increased room for opportunities for key players manufacturing soy sauce powder owing to factors such as growing economic and political stability, increasing urbanization, rising employment, rapidly developing infrastructure, increasing disposable income, and high consumer expenditure. Increased penetration of Chinese cuisines as a staple food in this region, coupled with increased production of soy sauce in India, is expected to bolster sales of soy sauce powder in the country.
What are the Factors Contributing to the High Growth Rate of Organic Soy Sauce Powder?
Organic food products and products made from organic ingredients are occupying prominent shelf space of global food retailers. Many manufacturers engaged in the food and beverage industry are turning toward the increased utilization of organic ingredients, as consumers are shelling out more money on organic food products, attributed to their alleged health benefits. Increased awareness regarding the use of harmful chemicals during the cultivation of different agricultural commodities has pushed consumers toward organic ingredients, including soy sauce powder.
Health benefits offered by organic food products is one of the most influential factors for the expansion of the organic products market, which, in turn, has triggered demand for organic seasonings. Apart from this, increasing government initiatives for promoting organic production is another important factor influencing demand for organic soy sauce powder for use in different organic products. As such, sales of organic soy sauce powder are expected to witness a high volume CAGR of approximately 8% over the forecasted period.
Majority of key players manufacturing soy sauce powder are emphasizing on product development strategies that are in line with evolving consumer trends. To ensure sustainability, key players are striving to offer gluten-free soy sauce powder to clinch a competitive edge in the global market. The gluten-free trend is backed by millions of consumers choosing a gluten-free diet for various reasons. Apart from this, key players are also investing huge amounts in research & development activities to ensure increased market participation, cost management benefits, and develop unique products.
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The global market for soy sauce powder has a value of US$ 349.9 Mn in 2023.
The global market for soy sauce powder has a value CAGR of 5.9% from 2018-2022.
The global market for soy sauce powder has a value of US$ 596.3 Mn in 2033.
The global market for soy sauce powder has a value CAGR of 5.5% from 2023-2033.
Prominent players manufacturing soy sauce powder include Kikkoman Corporation, AIPU Food Industry Co., Ltd., YAMASA Corporation, Maeil Foods Co., Ltd., and Halcyon Proteins Pty. Ltd.