Hoisin Sauce Market Size To Reach $2.31 Billion By 2030

Hoison Sauce Market Growth & Trends

The global hoisin sauce market size is expected to reach USD 2.31 billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global surge in popularity of Asian cuisine, especially Chinese and Vietnamese dishes, has significantly increased the demand for hoisin sauce. Consumers are increasingly looking for authentic flavors for home cooking, driving up sales of traditional condiments like hoisin sauce. The growth of the foodservice industry, including restaurants, fast food chains, and takeaways, has also contributed to the higher usage of hoisin sauce, as it is a key ingredient in many Asian-inspired dishes and essential in commercial kitchens.

As health awareness rises, there is a growing preference for natural, preservative-free, and low-sodium sauces. In response, manufacturers are offering healthier versions of hoisin sauce, attracting a wider range of consumers. The expansion of e-commerce has made it easier for people worldwide to access a variety of ethnic foods and condiments, facilitating global distribution and boosting the market growth.

Manufacturers are diversifying their product lines to include variations such as low-sodium and organic hoisin sauces, as well as those blended with flavors like garlic or sriracha. This diversification helps brands address different consumer preferences. Innovations in packaging, including convenient squeeze bottles, single-serve packets, and eco-friendly materials, are gaining popularity due to increasing consumer demands for convenience and sustainability.

Hoisin sauce is also being embraced in fusion cuisine, where chefs combine elements from various culinary traditions. This trend extends the use of hoisin sauce beyond traditional Asian dishes to include sandwiches, pizzas and marinades for non-Asian recipes. Additionally, the growing demand for vegan and gluten-free options has led to the development of hoisin sauces that meet these dietary needs, expanding the product’s appeal to a broader audience.

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Hoisin Sauce Market Report Highlights

• Based on nature, conventional hoisin sauce segment possess a share of 71.86% in 2023. Conventional hoisin sauce holds the largest market share, thanks to its enduring popularity and strong consumer recognition. This traditional version is well-known for its authentic flavor, making it a key ingredient in both home kitchens and professional culinary environments.

• Based on packaging, pouches and sachets segment is expected to witness a CAGR of 5.4% from 2024 to 2030. Pouches and sachets are lightweight and portable, making them ideal for on-the-go use, such as for picnics, travel, or packed lunches. They are typically more cost-effective to produce compared to glass bottles or larger plastic containers, which enables lower pricing and greater affordability for hoisin sauces.

• Based on distribution channel, the supermarkets & hypermarkets possesses a share of 38.84% in 2023. Supermarkets and hypermarkets boast an extensive network of stores that cater to a large and diverse customer base. This wide distribution network ensures that hoisin sauce is easily accessible to a broad audience.

• Asia Pacific held a market share of 33.83% in 2023. The growth of fusion cuisine, which combines traditional Asian flavors with global culinary trends, is opening up new avenues for the use of hoisin sauce in creative and varied dishes. Manufacturers are developing new flavor profiles and formulations, including spicier and sweeter versions of hoisin sauce, to meet evolving consumer tastes.

Hoisin Sauce Market Segmentation

Grand View Research has segmented the global hoisin sauce market report based on flavor, packaging, distribution channel, and region:

Hoisin Sauce Flavor Outlook (Revenue, USD Million, 2018 - 2030)

• Conventional

• Organic

Hoisin Sauce Packaging Outlook (Revenue, USD Million, 2018 - 2030)

• Glass Bottle

• Plastic Bottle

• Pouches and Sachets

Hoisin Sauce Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Supermarkets & Hypermarkets

• Convenience Stores

• Grocery Stores

• Online

• Others

Hoisin Sauce Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • France

  • Germany

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • Australia & New Zealand

  • South Korea

  • Philippines

  • Singapore

  • Thailand

  • Malaysia

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players of Hoisin Sauce Market

• Lee Kum Kee

• HADAY

• Koon Chun Sauce Factory Hong Kong

• Ka-me

• San-J

• Allied Old English Inc.

• Iron Chef

• Ty Ling

• Hormel Foods LLC

• House of Tsang