The Latin America, Middle East and Africa Oyster Sauce Market would witness market growth of 13.7% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 92,833.6 tonnes, showcasing a growth of 11.9% (2024-2031).
Oyster sauce sales in convenience stores are steadily increasing, driven by the growing consumer demand for quick and easy access to essential cooking ingredients. Convenience stores, known for their accessibility and fast service, are ideal for customers seeking ready-to-use products for home cooking. Oyster sauce, being a key ingredient in Asian cuisine, is popular among consumers looking to prepare quick stir-fries and sauces. Thus, the Brazil market is expected to sale 13,047.6 tonnes of oyster sauce by convenience stores by 2031.
The Brazil market dominated the LAMEA Oyster Sauce Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $545.7 Million by 2031. The Argentina market is showcasing a CAGR of 14.5% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 12.6% during (2024 - 2031).
Oyster sauce is often used in gourmet dishes to elevate the gastronomic experience. Chefs may utilize it as a finishing sauce or glaze for elegant presentations, showcasing its rich colour and flavour while complementing high-quality ingredients such as seafood or premium cuts of meat.
Additionally, oyster sauce can be incorporated into various snack foods, adding a savoury touch to items like popcorn, nuts, or chips. It can be used as a flavouring agent in savoury popcorn mixes or as a seasoning for roasted nuts, catering to consumers looking for unique snacking experiences.
This surge in the food service sector is attributed to a combination of factors, including a burgeoning population, a rise in tourism, and a growing expatriate community, all of which have led to an increased appetite for a variety of cuisines, including Asian dishes that prominently feature oyster sauce. As restaurants and hotels strive to enhance their menus to cater to diverse tastes, the demand for high-quality oyster sauce is expected to rise. Furthermore, the popularity of Asian cuisine, especially among younger consumers and food enthusiasts, positions oyster sauce as a staple ingredient, further propelling its market growth in the region.
Free Valuable Insights: The Worldwide Oyster Sauce Market is Projected to reach USD 23.9 Billion by 2031, at a CAGR of 12.3%
Based on Product Type, the market is segmented into Non-MSG Oyster Sauce and Vegetarian Oyster Sauce. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online, and Other Distribution Channels. Based on Application, the market is segmented into Commercial and Household. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product Type (Volume, Tonnes, USD Billion, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)
By Application (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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