The global soy sauce market size was valued at USD 38.36 billion in 2024 and is projected to grow from USD 40.42 billion in 2025 to USD 63.16 billion by 2032, exhibiting a CAGR of 6.59% during the forecast period of 2025-2032. Asia Pacific dominated the soy sauce market with a market share of 61.86% in 2024.

The sauces market is one of the long-standing and diverse markets across the world, primarily due to its offerings of savory products to consumers to use in their daily diet. Sauces and condiments have been in huge demand among consumers since initial times, and the trend is continuing in the global marketplace. Among several oriental table sauces, soy sauce is widely consumed as it offers a sensorial appeal to the food. Nowadays, the taste preferences of consumers are becoming experimental, and they are looking for tasty and healthy sauces that have an extended shelf life.

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Increasing Number of Company Mergers to Drive Market Growth

The soy sauce market has experienced significant growth in recent years due to rising global demand. Several companies are increasing their investments to expand soy sauce production and strengthen their market presence. Many leading players are adopting strategic collaborations and mergers to enhance their manufacturing and distribution capabilities.

For instance, in November 2017, Bharti JV announced a partnership with Kikkoman Corporation to expand its manufacturing capacity in India. This collaboration aims to meet the growing demand for soy-based products, including soy sauce and soy oil. By strengthening its distribution network in India, Bharti JV’s partnership with Kikkoman is expected to generate higher revenue and contribute to the overall market expansion.

Regional Insights

Asia Pacific to Dominate Market Share Due to High Condiment Consumption

The global soy sauce market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, Asia Pacific is projected to maintain the largest market share in the coming years. The increasing consumption of condiments and spices has significantly contributed to the demand for soy sauce and soy-based products in this region.

China alone imports over 50 million metric tons (MMT) of soybeans annually, showcasing the region’s substantial dependence on soy-based ingredients. This high consumption pattern presents lucrative opportunities for companies operating in the soy sauce market.

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North America is also expected to witness notable growth, driven by increasing consumer preference for Asian cuisines and the rising adoption of soy-based food products. In 2019, the soy sauce market in North America was valued at USD 10.74 billion, and this figure is expected to grow further in the upcoming years.

List of companies profiled in the report:

  • Haitian Group (China)
  • Kikkoman Corporation (Japan)
  • Nestle S.A. (Switzerland)
  • Kraft Heinz Company (US)
  • McCormick & Co Inc. (US)
  • Yamasa Corporation (Japan)
  • Campbell Soup Company (US)
  • MARUNAKA-SHOYU (Japan)
  • Shoda Sauces Europe Company Limited (U.K.)
  • Hormel Foods Corporation (U.S.)
  • Halcyon Proteins (Australia)

Industry Developments

  • July 2018 – Haitian Corporation inaugurated a new manufacturing facility in Turkey to expand its soy sauce production and strengthen its presence in the region. This strategic move aims to accelerate the company’s operations in the European and Middle Eastern markets.

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