Global Miso Market 2018-2022
The demand for miso is increasing among consumers due to its health benefits and the increasing popularity of Japanese cuisine. The growing popularity of Japanese cuisine is evident from the increasing number of restaurants offering Japanese cuisines globally.
Technavio’s analysts forecast the Global Miso Market 2018-2022to grow at a CAGR of 5.88% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the miso market. To calculate the market size, the report considers the revenue generated from the sales of different types of miso, such as white miso, yellow miso, and red miso.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Miso Market 2018-2022
Technavio recognizes the following companies as the key players in the miso market: Eden Foods, Great Eastern Sun, HIKARI MISO , ICHIBIKI, MARUSAN-AI, Saikyo-Miso
Commenting on the report, an analyst from Technavio’s team said: “Rising global vegan population will be a key driver for the market growth. The increasing consumption of product from plants among vegan population will increase the demand for products based on soybeans such as miso and others, as they are healthy and rich in nutrients.”
According to the report, the increasing soy production will influence the market growth. Soy is the main raw material for producing miso and the increasing production will boost the production of miso. Soy production is increasing in countries such as the US, China, and Canada. In the US, soy production in 2017 increased about 3% when compared to 2016 and China witnessed a 10% increase in the production of soy.
Further, the report states that product contamination will be a challenge to the growth of the market. Instances of product contamination reduce the sales of the product and end in product recalls. Consumers also lose trust in the product and brand offering the products. Product recalls also result in financial liabilities for the players to settle various legal suites filed against them.
Eden Foods, Great Eastern Sun, HIKARI MISO
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