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Soy Sauce Production in China Industry Data and Analysis
Revenue from the Soy Sauce Production industry in China is expected to grow at an annualized rate of 2.3% over the five years through 2024. In 2024, revenue is expected to grow by 1.6% to total $31.9 billion, mainly due to the stable domestic demand and recovering export volumes.The industry has expanded over the past five years due to rising income and consumption levels. Domestic demand for the industry's products mainly comes from the catering industries, food manufacturing industries, and from households. Demand from catering industries has been negatively influenced due to the COVID-19 period, mainly as residents reduced eating out. In contrast, demand from households and food manufacturing industries has been increased.Exports increased strongly during the past five years to 2024, at an average rate of 10.4%. Exports are expected to account for 7.1% of industry revenue in 2024.The industry has obvious regional features. There are more regional operation companies and a few nationwide brands due to the differences in local customs and personal taste preferences. Revenue from the top four industry enterprises accounts for 19.4% of industry revenue in 2024, indicating a low market share concentration in the industry. However, greater merger and acquisition activity has increased the industry's concentration in recent years.ACMR-IBISWorld forecasts that over the five years through 2029, industry revenue will grow at an annualized rate of 2.0% to total $35.2 billion. With the country's change in economic focus from exports to domestic demand and with rising living standards, solid growth in consumption of industry products in China is projected to continue. Improving rural distribution networks will also promote the industry's development in the future.
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What's included in this industry analysis
IBISWorld's research coverage on the Soy Sauce Production industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released May 2024.
About this industry
What's this industry report about?
The Soy Sauce Production industry in China operates under the industry code 1462. This industry uses soybeans, wheat and bran as raw materials to produce various soy sauce and sauce products through microbial fermentation. Related terms covered in the Soy Sauce Production industry in China include soy sauce, edible vinegar, fruit vinegar and composite seasoning.
What's included in this industry?
Products and services covered in Soy Sauce Production industry in China include Soy sauce, Vinegar and Sauce products.
What companies are included in this industry?
Companies covered in the Soy Sauce Production industry in China include Foshan Haitian Flavouring and Food Company Ltd., Lee Kum Kee (Guangzhou) Food Co., Ltd. and Jonjee Hi-Tech Industrial & Commercial Holding Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Soy Sauce Production industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Soy Sauce Production industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Soy Sauce Production industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Soy Sauce Production industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Soy Sauce Production industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Soy Sauce Production industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Soy Sauce Production industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Soy Sauce Production industry in China.
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Frequently Asked Questions
What is the market size of the Soy Sauce Production industry in China in 2026?
The market size of the Soy Sauce Production industry in China is $31.9bn in 2026.
How many businesses are there in the Soy Sauce Production industry in China in 2024?
There are 778 businesses in the Soy Sauce Production industry in China, which has grown at a CAGR of 0.9 % between 2019 and 2024.
How may import tariffs affect the Soy Sauce Production industry in China?
The Soy Sauce Production industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Soy Sauce Production industry in China?
The Soy Sauce Production industry in China is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Soy Sauce Production industry in China grown or declined over the past 5 years?
The market size of the Soy Sauce Production industry in China has been growing at a CAGR of 2.3 % between 2019 and 2024.
What is the forecast growth of the Soy Sauce Production industry in China over the next 5 years?
Over the next five years, the Soy Sauce Production industry in China is expected to grow.
What are the biggest companies in the Soy Sauce Production industry in China?
The biggest companies operating in the Soy Sauce Production industry in China are Foshan Haitian Flavouring and Food Company Ltd., Lee Kum Kee (Guangzhou) Food Co., Ltd. and Jonjee Hi-Tech Industrial & Commercial Holding Co., Ltd.
What does the Soy Sauce Production industry in China include?
Soy sauce and Vinegar are part of the Soy Sauce Production industry in China.
Which companies have the highest market share in the Soy Sauce Production industry in China?
The company holding the most market share in the Soy Sauce Production industry in China is Foshan Haitian Flavouring and Food Company Ltd..
How competitive is the Soy Sauce Production industry in China?
The level of competition is high and increasing in the Soy Sauce Production industry in China.
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