Miso is produced by fermenting soybean, rice, barley, or other ingredients with fungus Aspergillus oryzae and salt. It is a traditional seasoning in Japan used for miso soup, pickling vegetables or meats, and sauces and spreads. Miso is high in minerals, vitamins, and protein, therefore it is a preference food for health consciousness people. Miso is typically salty but in modern cooking it savory, fruity, earthy, and sweet miso is also used. The aroma and flavor of miso depends on fermentation process and the ingredients used.
Global Miso Market Dynamics:
The growth of the global miso market is driven by growing demand for high nutrition food and increasing health consciousness among consumers. The properties of miso including high in minerals, vitamins, and protein fueling the global miso market. Macroeconomic factors such as growing economy, changing lifestyle, increasing domestic income, and rapid rate of urbanization driving the global miso market. However, it is hard and costly to produce organic miso as more than half of the soybean produced across the globe is genetically modified which is expected to restrain the demand for global miso market. Some of the factors trending the global miso market include mergers & acquisitions between miso market players and its suppliers and high investment in the food industry. Companies operate in the miso market can increase its share through collaboration with miso suppliers, backward integration, and by offering organic, gluten-free products in the market.
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Global Miso Market Segmentation:
The global miso market is segmented on the basis of product type, raw material, distribution channel, end-user, and region. Based on product type global miso market is segmented as red miso, white miso, and mixed miso. Among which red segment is estimated to account for relatively high value share followed by white miso, however mixed segment is expected to expand at a relatively high CAGR in global miso market. On the basis of raw material, the global miso market is segmented as soybean, rice, barley, and others, wherein soybean segment is expected to expand at a relatively high growth rate over the forecast period. Based on distribution channel, the global miso market segmented as wholesale and retail. Among which wholesale segment is expected to account for relatively high revenue share, attributed to rapidly growing food service industry, whereas retail segment is expected to expand at relatively high value as well as volume share in global miso market. The retail segment is again fragmented into convenient stores, hypermarkets/supermarket, e-Commerce, and individual stores. Among which, hypermarkets/supermarket, the segment is expected to contribute for major revenue share whereas, e-Commerce segment is expected to expand at a significant CAGR in the global miso market, attributed to increasing adoption of e-Commerce across the globe. On the basis of end-user, the global miso market is segmented as consumers and food services, wherein food services segment has significant revenue share, whereas, consumers segment is expected to register significant CAGR, over the forecast period.
Global Miso Market Regional Outlook:
Based on the geographies, the global miso market is split into seven regions including North America, Western Europe, Eastern Europe, Japan, Asia-Pacific Excluding Japan, Latin America, and the Middle East & Africa. Among the regions, Japan is expected to dominate the global miso market with relatively higher growth rate, owing to high demand for miso across the country. North America and Europe is followed by Japan and is expected to expand at a significant growth rate in miso market, owing to high health awareness among consumers across the regions. Asia-Pacific except Japan is expected to expand at significant growth rate, attributed to rapid rate of urbanization, rapidly growing population, and changing lifestyle of consumers across the region. Overall, the outlook for the global miso market will have a positive growth over the forecast period, growing demand for organic and healthy food across the globe being a counterfeiting factor.
Global Miso Market Player:
Few players in the global miso market include Miyasaka Jozo Co., Ltd., Marukome, Source Foods, Hikari Miso Co. Ltd., Yamato Soysauce & Miso Co., Ltd., Saikyo-Miso Co.,Ltd., The American Miso Company, Yamato Soysauce & Miso Co.,Ltd., and Miyako Oriental Foods Inc.