Soy Sauce Powder Market to Witness Increase in Revenues by 2024

Soy sauce powder is prepared from soybeans to primarily satisfy the demand for food and beverage industry and one of the ideal ingredient which is used in food products to enhance the taste, tenderness, color and flavor. Soy sauce powder also includes ingredients such as maltodextrin, wheat and salt as it gives better flavor enhancement in food products. It is also known as dehydrated soy sauce. Soy sauce powder is easily dissolved in water to create liquid soy sauce or paste. Rising demand for fast food, snacks, meals, prepared food and many other products has influenced the demand for soy sauce powder in the global market. It is expected that North America and Asia-Pacific is expected to account largest market share for soy sauce powder in near future.

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Global Soy Sauce Powder Market: Market Drivers

Demand for soy sauce powder in the global market is driving from increasing demand for health conscious consumers as soy sauce powder is rich in protein, and amino acids. Due to health and wellness trends, soy sauce manufacturers are also introducing the new range of powders in the market to meet the consumer demands. Growing consumer concerns towards different flavor and taste preferences and changing consumer eating habits are the key factors increasing the demand for soy sauce powder. Currently, the demand for soy sauce is increasing especially among food manufacturers, fast food retail chains and restaurants as they use soy sauce powder for flavor enhancement, coating, seasoning, soups and for many other purposes. Food manufacturers also used soy sauce powder in dry or in rehydrated form which has wide application in seasoning mixes, sauces, dips, gravies, soups, snacks etc.

Global Soy Sauce Powder Market: Market Segmentation

Soy sauce powder market is segmented on two different basis, on the basis of type and on the basis of application. Soy sauce powder market segment on the basis of by type, it includes fermented soy sauce powder and roasted soy sauce powder. Another market segmented for soy sauce powder is on the basis of by application, it includes soups, sauces, seasonings, snacks, meat items and others (salad dressings, gravies, and dips). The demand for soy sauce is primarily increasing from food manufacturers, food catering, households, and an increasing number of fast food chains as it has wide application in food products as it gives authentic flavor, aroma of soy sauce, color, crust formation and also function as umami food recipes. Soy sauce powder has become the ideal base for sauces, snacks, dips, dressings, gravies, instant seasoning food products for flavor enhancement purpose and to offer the better taste in food items.

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Global Soy Sauce Powder Market: Regional Outlook

On the basis of the regional segment, the market of Soy sauce powder is segmented into five regions: North America, Latin America, Europe, Asia-Pacific and Japan, and the Middle East & Africa. On analyzing the demand for soy sauce powder market in the graph, it is expected that Asia-Pacific and Japan account for majority of market share in the global market in terms of volume and in terms of value North America accounts the majority of share in global soy sauce powder market.

Global Soy Sauce Powder Market: Key players

Some of the key players operates in business of soy sauce powder are Nikken Foods USA, Inc., Shanghai Hensin Industry CO., Ltd., Chaitanya Group of Industries, SEEWOO FOODS LIMITED, Halcyon Proteins Pty. Ltd., La Herbal (india), AmTech Ingredients, PHILIPPINE AMINOSAN CORPORATION, YAMASA Corporation, and Kikkoman Corporation among others.

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