Oyster Sauces Market by Product Type (Non-MSG Oyster Sauce, Vegetarian Oyster Sauce),End User (Retail, Foodservice),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019to 2026.
The global oyster sauces market is expected to grow from USD xx Million in 2018 to USD xx Million by 2026 at a CAGR of xx% during the forecast period from 2019-2026.Rising consciousness towards healthy eating habits and increasing propensity toward home cooking are the two factors affecting the demand of the market.
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The retail segment is dominating the market with the highest share in 2018
The end user segment is segmented into retail and foodservice. The retail segment is dominating the market in 2018 owing to the increasing use of oyster sauce in several Asian dishes.
Vegetarian oyster sauce segment dominated the market in 2018
The product type segment is segmented into Non-MSG oyster sauce and vegetarian oyster sauce. The vegetarian oyster segment is dominating the market in 2018. Vegetarian oyster sauce prepared from mushrooms, often oyster mushrooms or shiitake mushrooms, is also popular and generally lower in price. It may contain more taste enhancers if less mushroom extract is used to reduce costs.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. The Asia Pacific region is dominating the market owing to the increasing number of restaurants in the region.North America is anticipated to grow rapidly due to the growing popularity of the Asian cuisine and many Asian vendors expanding their businesses to increase their market share in the region
The major players of market include Nestlé, Kikkoman, Ajinomoto, Lee KumKee, 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. For instance, 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.
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