Australia - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingPrices of Soya Sauce Skyrocket in Australia, Reaching $2,073 per Ton
Australia Soya Sauce Import Price in December 2022
In December 2022, the soya sauce price stood at $2,073 per ton (CIF, Australia), increasing by 29% against the previous month. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $2,405 per ton in May 2022; however, from June 2022 to December 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($3,337 per ton), while the price for South Korea ($625 per ton) was amongst the lowest.
From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Australia Soya Sauce Imports
In December 2022, approximately 1.5K tons of soya sauce were imported into Australia; reducing by -47.4% on November 2022. In general, imports saw a slight decline. The pace of growth was the most pronounced in November 2022 when imports increased by 107% m-o-m. As a result, imports attained the peak of 2.8K tons, and then fell dramatically in the following month.
In value terms, soya sauce imports plummeted to $3M (IndexBox estimates) in December 2022. Over the period under review, imports saw a mild contraction. The most prominent rate of growth was recorded in November 2022 when imports increased by 65% month-to-month. Imports peaked at 4.5K tons in March 2022; however, from April 2022 to December 2022, imports remained at a lower figure.
Join Us at HANNOVER MESSE 2024
Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany
Australia Soya Sauce Imports by Country
China (354 tons), Singapore (301 tons) and South Korea (213 tons) were the main suppliers of soya sauce imports to Australia, with a combined 59% share of total imports. These countries were followed by Hong Kong SAR, Japan, Thailand, Indonesia, Malaysia and the Philippines, which together accounted for a further 37%.
From January 2022 to December 2022, the biggest increases were in Thailand (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Singapore ($937K), China ($560K) and Japan ($404K) constituted the largest soya sauce suppliers to Australia, together accounting for 63% of total imports. These countries were followed by Hong Kong SAR, Thailand, Indonesia, South Korea, Malaysia and the Philippines, which together accounted for a further 31%.
Thailand, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
The price of soya sauce in Australia has recently surged to a record high of $2,073 per ton. This rise in price can be attributed to a combination of factors, including increased demand for soya sauce in the global market and shortages in soya bean supplies in key producing countries.
Why Soya Sauce Prices Are Rising
Soya sauce is a popular ingredient in many cuisines around the world, and its versatility has led to its widespread use in home cooking and restaurant kitchens alike. As such, the increase in demand for soya sauce has placed pressure on suppliers to meet the growing consumer demand, which has in turn led to a rise in price.
It is important to note that the shortage in soya beans is not limited to Australia alone. The world's largest producer of soya beans, Brazil, has experienced a significant decrease in yields due to drought and unfavorable weather conditions. This has led to a drop in the global supply of soya beans, which has driven up prices for soya sauce and other products that use soya as a key ingredient.
While the rise in price may come as a surprise to some consumers, it is important to keep in mind that fluctuations in commodity prices are a natural part of the market. As the global economy continues to grow and change, it is likely that we will see more price volatility in the future. However, consumers can take comfort in the fact that there are many companies and organizations working to find innovative solutions to these challenges, ensuring that they can continue to enjoy their favorite foods at reasonable prices.
This report provides an in-depth analysis of the soya sauce market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10841210 - Soya sauce
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
