The Oyster Sauce Market is Predict to reach USD 23.9 Billion by 2031, at a CAGR of 12.3%

Oyster Sauce Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Oyster Sauce Market size is expected to reach $23.9 billion by 2031, rising at a market growth of 12.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 23,873.3 tonnes, experiencing a growth of 12.6% (2020-2023).

The Vegetarian Oyster Sauce segment is anticipating a CAGR of 12.7% during (2024 - 2031). This segment caters to a growing demographic of consumers who follow vegetarian or vegan diets but still desire the rich, savoury flavours typically associated with traditional oyster sauce. The shift toward plant-based eating is a significant trend that has accelerated in recent years, fuelled by an increasing number of individuals adopting vegetarian or vegan lifestyles for health, environmental, or ethical reasons. Vegetarian oyster sauces often utilize mushrooms or other plant-based ingredients to replicate the umami flavour, making them popular among those looking for plant-based alternatives without sacrificing taste.

The Commercial segment is leading the Global Oyster Sauce Market by Application in 2023; thereby, achieving a market value of $15.1 billion by 2031. This segment encompasses usage in restaurants, food service industries, and food manufacturers, all of which utilize oyster sauce to enhance flavours and offer authentic Asian cuisine experiences. The growth in this segment can be attributed to the increasing popularity of Asian cuisine in dining establishments, the rising trend of Asian fusion dishes, and the expansion of food delivery services that emphasize diverse culinary options.

The Convenience Stores segment is registering a CAGR of 12.5% during (2024 - 2031). This growth can be attributed to the increasing consumer preference for quick and easy access to food products. Convenience stores often cater to on-the-go consumers looking for fast meal solutions and readily available ingredients. The strategic locations of these stores make them an appealing option for consumers seeking to purchase oyster sauce without the need for extensive shopping trips.

Full Report: https://www.kbvresearch.com/oyster-sauce-market/

The Asia Pacific region dominated the Global Oyster Sauce Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12.2 billion by 2031. The North America region is experiencing a CAGR of 11.3% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 11.9% during (2024 - 2031).

List of Key Companies Profiled

• Ajinomoto Co., Inc.
• Lee Kum Kee Company Limited
• Pearl River Bridge
• Nestle S.A. (Nestlé India Limited)
• Amoy Food Ltd.
• Foshan Haitian Flavoring & Food Co. Ltd.
• Megachef (Marine Resources Development Co.,Ltd.)
• Pantainorasingh Manufacturer Co.,Ltd.
• MOTHER'S BEST

Oyster Sauce Market Report Segmentation

By Product Type (Volume, Tonnes, USD Billion, 2020-2031)

• Non-MSG Oyster Sauce
• Vegetarian Oyster Sauce

By Distribution Channel (Volume, Tonnes, USD Billion, 2020-2031)

• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Other Distribution Channels

By Application (Volume, Tonnes, USD Billion, 2020-2031)

• Commercial
• Household

By Geography (Volume, Tonnes, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Oyster Sauce Market Size & Forecast | 2031

• October-2024
• 101 Pages

LAMEA Oyster Sauce Market Size & Analysis Report to 2031

• October-2024
• 117 Pages

Europe Oyster Sauce Market Size | Industry Trend to 2031

• October-2024
• 116 Pages

Asia Pacific Oyster Sauce Market Size | Growth Report 2031

• October-2024
• 123 Pages