Oyster sauce represents a variety of sauces made by cooking oysters or from oyster extracts along with salt, sugar, and water thickened with corn starch. The oyster sauce has been rising in popularity in recent times for its savory flavor, making it ideal choice for flavoring vegetables, meat, and different global cuisines apart from Chinese. With rise in the demand for flavor enhancer, emerging trends of fusion of different cuisines, and increasing consumer interest in exploring new flavors and multiple dishes, the demand for oyster sauce is likely to grow significantly in the coming years. In addition, rising consumer inclination toward home cooking over dining out is expected to contribute to the development of oyster sauce market globally.
Oyster Sauce Market – Notable Developments
Nestlé, Kikkoman, Ajinomoto, Lee Kum Kee, Foshan Haitian Flavoring & Food, MOTHER’S BEST, Wing Soon Food Manufacturer Pte Ltd, Kakusan Foods Co., Ltd., Bachun Food, Yuen Chun Industries, Thaipreeda Group, Marine Resources Development Co., Ltd., and Foodex Manufacturer Co., LTD. are some of the key players operating in the oyster sauce market.
- In January 2019, Lee Kum Kee introduced a new line of Panda Brand Grilling and Dipping Sauces. According to the company, this new line of products provide an easy and simple way to prepare delicious dishes. They come in four bold flavor varieties which can be enjoyed straight out of the bottle. The company’s chairman Lee Man-tat reportedly became the third richest man in Hong Kong in February 2019.
- In November 2018, Ajinomoto Co., Inc., a leading player in the oyster sauce market, announced to build a new plant for manufacturing and packaging soups and other products. Under its FY2017-2019 Medium-Term Management Plan, the company is planning to reconstruct the value chain of its Japan Food Products Business. In July 2018, Ajinomoto organized a food tour featuring its Sarsaya Oyster Sauce which was launched in October 2016.
- In April 2018, Nestlé’s Maggi sends off its Food Truck Caravan on a roadshow to introduce its new ‘Maggi Oyster Sauce’ which is richer, thicker, and full flavor of Korean and Japanese oysters.
Oyster Sauce Market Dynamics
Rapid penetration of pre-made or ready-to-cook meals along with home delivery services for groceries has significantly reduced visits to restaurants and other food service outlets among a range of consumers. Moreover, cooking shows are influencing these consumers to cook at home and explore different flavorings and sauces. In the recent times, oyster sauce has become one of most sought-after ingredients in multiple fast food dishes. These are the important factors driving the growth of oyster sauce market. Consumer shift toward home cooking to adopt health eating habits is also foreseen to strengthen the oyster sauce market growth.
To cater the increasing demand, oyster sauce manufacturers are focusing on incorporating innovative packaging solutions which helps retain the product quality, texture, color, taste, and flavor. More availability of ready-made recipes with oyster sauce as a key ingredient will possibly create potential growth prospects of the market.
Easy Availability of Better and Reliable Substitutes to Restrain Oyster Sauce Market Growth
Although the oyster sauce market is anticipated to maintain a positive outlook, growing popularity of oyster sauce substitutes such as soy sauces, mushroom sauces, and fish sauces may pose as a challenge to its leading players. Further, some people are allergic to oyster sauce, and therefore prefer using its substitutes which offer similar taste and flavor. This in turn is likely to create a hindrance in the growth of oyster sauce market.
Oyster Sauce Market Segmentation
Based on product type, the oyster sauce market can be segmented into:
- Oyster Sauce
- Vegetarian Oyster Sauce
Based on distribution channel, the oyster sauce market can be segmented into:
- Independent Retailers
- Online Retailers
- Supermarkets & Hypermarkets
- Convenience Stores
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Oyster sauce market segments and sub-segments
- Oyster sauce market trends and dynamics
- Supply and demand of oyster sauce
- Oyster sauce market size
- Current trends/opportunities/challenges in market of oyster sauce
- Competitive landscape
- Technological breakthroughs in oyster sauce market
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report on oyster sauce market has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The oyster sauce market report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report on oyster sauce market projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market of oyster sauce
- Important changes in oyster sauce market dynamics
- Oyster sauce market segmentation up to the second or third level
- Historical, current, and projected size of the oyster sauce market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments in oyster sauce market
- Oyster sauce market shares and strategies of key players
- Emerging niche segments and regional markets of oyster sauce
- An objective assessment of the trajectory of the oyster sauce market
- Recommendations to companies for strengthening their foothold in the oyster sauce market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
- Oyster Sauce Uses
- Oyster Sauce Substitute
- Oyster Sauce Recipe
- Gluten free Oyster Sauce