The Latin America, Middle East and Africa Soy Sauce Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 673.1 kilo tonnes, showcasing a growth of 9.7% (2023-2030).
In the food industry, soy sauce serves as a fundamental ingredient in a diverse array of dishes, contributing depth, richness, and complexity to culinary creations across various cuisines. Its umami-rich flavour profile makes it a staple in Asian cooking, where it is used to season stir-fries, marinades, dipping sauces, soups, noodles, and sushi. Its ability to balance and accentuate flavours makes it indispensable in both traditional recipes and innovative culinary creations. Therefore, the UAE market consumed 54.8 kilo tonnes in the food industry in 2022.
The Brazil market dominated the LAMEA Soy Sauce Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,567.9 million by 2030. The Argentina market is showcasing a CAGR of 8.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.4% during (2023 - 2030).
It is used as a dipping sauce or a seasoning for stir-fries, soy has transcended its initial roles to become a foundational ingredient in many recipes. Its applications span from traditional Asian dishes to innovative fusion cuisines, showcasing the dynamic nature of its culinary contributions. As consumers seek more authentic and high-quality food experiences, there is a growing interest in artisanal and traditionally brewed sauces. The emphasis on authenticity aligns with the broader trend of consumers seeking transparency and traceability in their food choices.
In addition, the growing interest in artisanal sauces is part of a broader trend where consumers are increasingly drawn to products that offer authenticity and transparency. In an era where the sourcing of ingredients and the production process are scrutinized, artisanal sauce producers provide a clear narrative about their products' methods, ingredients, and cultural significance. This transparency resonates with consumers who seek a genuine connection with their food and a deeper understanding of its origins.
The growth of the restaurant and food service industry in South Africa provides ample opportunities for sauce consumption. As per the data from the Government of South Africa, comparing February 2023 to February 2022, the food and beverage industry's total revenue increased by 14.9% when denominated in real terms (constant 2019 prices). Food sales (13.8%) and bar sales (35.5%) both experienced favorable annual growth rates. Hence, the rising food service and food and beverage sectors in LAMEA can lead to enhanced growth in the regional market.
Based on Type, the market is segmented into Blended and Brewed. Based on Application, the market is segmented into Food Industry and Household. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
In the food industry, soy sauce serves as a fundamental ingredient in a diverse array of dishes, contributing depth, richness, and complexity to culinary creations across various cuisines. Its umami-rich flavour profile makes it a staple in Asian cooking, where it is used to season stir-fries, marinades, dipping sauces, soups, noodles, and sushi. Its ability to balance and accentuate flavours makes it indispensable in both traditional recipes and innovative culinary creations. Therefore, the UAE market consumed 54.8 kilo tonnes in the food industry in 2022.
The Brazil market dominated the LAMEA Soy Sauce Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,567.9 million by 2030. The Argentina market is showcasing a CAGR of 8.3% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.4% during (2023 - 2030).
It is used as a dipping sauce or a seasoning for stir-fries, soy has transcended its initial roles to become a foundational ingredient in many recipes. Its applications span from traditional Asian dishes to innovative fusion cuisines, showcasing the dynamic nature of its culinary contributions. As consumers seek more authentic and high-quality food experiences, there is a growing interest in artisanal and traditionally brewed sauces. The emphasis on authenticity aligns with the broader trend of consumers seeking transparency and traceability in their food choices.
In addition, the growing interest in artisanal sauces is part of a broader trend where consumers are increasingly drawn to products that offer authenticity and transparency. In an era where the sourcing of ingredients and the production process are scrutinized, artisanal sauce producers provide a clear narrative about their products' methods, ingredients, and cultural significance. This transparency resonates with consumers who seek a genuine connection with their food and a deeper understanding of its origins.
The growth of the restaurant and food service industry in South Africa provides ample opportunities for sauce consumption. As per the data from the Government of South Africa, comparing February 2023 to February 2022, the food and beverage industry's total revenue increased by 14.9% when denominated in real terms (constant 2019 prices). Food sales (13.8%) and bar sales (35.5%) both experienced favorable annual growth rates. Hence, the rising food service and food and beverage sectors in LAMEA can lead to enhanced growth in the regional market.
Based on Type, the market is segmented into Blended and Brewed. Based on Application, the market is segmented into Food Industry and Household. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- Bourbon Barrel Foods LLC
- Lee Kum Kee Company Limited
- Otafuku Sauce Co., Ltd.
- Yamasa Corporation
- Aloha Shoyu Company
- Guangdong Meiweixian Flavoring Foods Co., Ltd.
- Nestle S.A.
- Masan Group Corporation
- Kikkoman Corporation
- Foshan Haitian Flavoring & Food Co., Ltd.
Market Report Segmentation
By Type (Volume, kilo Tonnes, USD Billion, 2019-2030)- Blended
- Brewed
- Food Industry
- Household
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. LAMEA Soy Sauce Market by Type
Chapter 6. LAMEA Soy Sauce Market by Application
Chapter 7. LAMEA Soy Sauce Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Bourbon Barrel Foods LLC
- Lee Kum Kee Company Limited
- Otafuku Sauce Co., Ltd.
- Yamasa Corporation
- Aloha Shoyu Company
- Guangdong Meiweixian Flavoring Foods Co., Ltd.
- Nestle S.A.
- Masan Group Corporation
- Kikkoman Corporation
- Foshan Haitian Flavoring & Food Co., Ltd.
Methodology
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