China Soy Sauce Product Sales to Continue to Gain Momentum to 2021, Forecasts ASKCI Consulting in Its Report Available at MarketPublishers.com
16 Jan 2017 • by Natalie Aster
LONDON – The major consumers of soy sauce products include personal consumers that account for 30% of the market, dinning enterprises with 30%, and food processing companies grabbing the majority share of 40%.
In 2015, the sales of soy sauce product in China surpassed the USD 6.38 billion mark in value, increasing by more than 11%.
To date, there are a slew of companies operating in the flavouring industry, and the level of industrial concentration is not high, however, the industrial integration advances into brand-building, high-end oriented development and intensification. Amid three popular local soy sauce brands one can name Lee Kum Kee, Haitian, Jiajia, etc.
With the expansion of third-party m-payment and e-commerce sectors, the soy sauce firms have entered into e-commerce. This novel business mode is likely to help soy sauce industry transfer and develop, resulting in the soy sauce product sales reach an estimated value of USD 8.7 million by 2021.
Topical report “Development and Market of Soy Sauce in China 2016-2021 Proposal” created by ASKCI Consulting provides an all-encompassing and deep understanding China’s soy sauce industry. It covers the key aspects, such as market structure, market size of the industry, industry statistics, global position of the industry, demand and supply, actual and prospective market trends, investment opportunities, drivers of the market growth, regional analysis of the marketplace, etc. The study includes information on the domestic bellwether companies and their activities in China. Furthermore, the report offers detailed market forecasts and prospects of the future development of the Chinese soy sauce industry to 2021.
More reports by the publisher are available at ASKCI Consulting page.