The global oyster sauce market size is expected to reach USD 11.16 billion by 2025 registering a CAGR of 4.5%. Oyster sauce is an essential part of Asian cuisine. Its popularity is a result of its savory taste, which makes it an excellent addition to a variety of meats and vegetables. Over the projected timeframe, this is also expected to fuel the commodity demand. The global oyster sauce market is expected to expand as the number of online grocery service providers increases.
The rising awareness of the importance of leading a healthier lifestyle has increased the value of home-cooked food, which is projected to fuel the demand for oyster sauce during the forecast period. Furthermore, television cooking shows are encouraging viewers to cook at home and experiment with new flavors and sauces. Oyster sauce has recently been one of the most common ingredients in a variety of fast food dishes. These are a few of the major factors propelling the global oyster sauce market forward.
Oyster Sauce Market Report Highlights
• On the basis of distribution channel, the hypermarkets and supermarkets segment dominated the distribution channel segment and is expected to maintain its dominance during the forecast period.
• The online distribution channel segment is expected to witness the fastest growth of CAGR 4.8% over the forecast period owing to the growing number of smartphone and internet users coupled with social distancing and stepping-out-of-the-house-only-when-necessary norms across the globe due to the COVID-19 pandemic.
• Based on the application, the commercial application segment accounted for more than 56% of the global market in 2018.
• The Asia Pacific is estimated to be the largest market by 2025. However, North America is expected to be the fastest-growing region over the forecast period.
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Oyster Sauce Market Segmentation
Grand View Research has segmented the global oyster sauce market on the basis of application, distribution channel, and region:
Oyster Sauce Application Outlook (Revenue, USD Million, 2015 – 2025)
Oyster Sauce Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Convenience Stores
Oyster Sauce Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• The U.S.
• Asia Pacific
• Hong Kong
• Central and South America
• Middle East & Africa
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