About Hoisin Sauce
Hoisin sauce could be a thick, sweet-scented sauce ordinarily employed in Cantonese dialect cuisine as a glaze for meat, associate degree addition to stir-fries, or as a dipping sauce. It is darkly colored in look and sweet and salty in style. Though regional variants exist, duck sauce typically includes soybeans, fennel, red chili peppers, and garlic. The rising demand for exotic food and additives has caused growth in the demand of Hoisin Sauce.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.55% |
The global Hoisin sauce market is consolidated by the key players catering to world demand for the savory and sweet taste additives which can be part of diet adding flavour to the food for more tasty experience. The players should focus upon clean label offerings and organic ingredient addition in order to grab the market share. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Hoisin Sauce market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tak Fat Trading Co. (Hong Kong), Guangdong PRB Bio-Tech Co., Ltd. (China), Win Chance Foods Co., Ltd. (Australia), Danfast Ltd. (Hong Kong), Win Chance Foods Co., Ltd. (Hong Kong), Fbc Exim Co., Ltd. (Thailand), Bidor Kwong Heng Sdn Bhd (malaysia) and Desly Foodstuffs Co., Ltd (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hoisin Sauce market by Type (Kosher and Gluten-free), Application (Individual and Commercial) and Region.
On the basis of geography, the market of Hoisin Sauce has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Packaging, the sub-segment i.e. Glass Bottle will boost the Hoisin Sauce market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Hoisin Sauce market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Enhancement of Food Tastes and Sauce Ingredient Combinations with Low pH Preserve and Clean Label Packaging
Market Growth Drivers:
Rise in Demand for the Different Sauces to cater the consumer Demand for Varying Taste and Innovative Food Flavouring
Challenges:
High Sugar Content of the Sauce is Unfavourable for Diabetic Patients and Availability of Substitutes in Market
Restraints:
Stringent Government Regulations Regarding Sodium Content in Sauce and Food Additives
Opportunities:
Rising Demand for the Hoisin Sauce in Cafes and Hotels for Dipping Purpose and Growth in Organic Food Choices
Market Leaders and their expansionary development strategies
In October 2022, Lee Kum Kee, the pioneer and leading maker of authentic, Asian-style sauces and condiments, today announced the launch of a new line of flavored Hoisin Sauces—Lime Cilantro Flavored Hoisin Sauce and Lemongrass Chili Flavored Hoisin Sauce, offering a new take on its iconic, best-selling classic Hoisin Sauce. The new Hoisin Sauces offer at-home cooks an easy way to elevate mealtime routines this fall season and beyond.
In February 2022, Lucky Foods are renowned for providing the tastiest cuisine made from the very best farm-fresh foods. Now, the innovative brand is excited to be expanding its range even further with the launch of new Organic Vegan Oyster Sauce and Organic Vegan Hoisin Sauces.
Food and Drug Administration of United States 21CFR101.61 Nutrient content claims for the sodium content of foods states that the sodium content the food contains less than 5 milligrams (mg) of sodium per reference amount customarily consumed and per labelled serving for low Sodium Content Label.
Key Target Audience
Hoisin Sauce Manufacturer, Distributor/Supplier, Raw Material Manufacturer, Research Institutes, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.