Report Update: May 1, 2024

Hungary - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights

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Soya Sauce Price in Hungary - 2023

Soya Sauce Price in Hungary (CIF) - 2023

In June 2023, the average soya sauce import price amounted to $3,856 per ton, declining by -2.2% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 when the average import price increased by 229% m-o-m. The import price peaked at $5,078 per ton in March 2023; however, from April 2023 to June 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($9,191 per ton), while the price for the Netherlands ($1,421 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Soya Sauce Price in Hungary (FOB) - 2022

The average soya sauce export price stood at $4,432 per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 55%. As a result, the export price reached the peak level of $5,520 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($5,030 per ton) and the Czech Republic ($4,647 per ton), while the average price for exports to Serbia ($3,562 per ton) and Italy ($4,508 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports in Hungary

In 2022, supplies from abroad of soya sauce decreased by -5.4% to 609 tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +5.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 37%. As a result, imports reached the peak of 716 tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, soya sauce imports surged to $1.7M in 2022. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +23.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 53%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Soya Sauce in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	381	598	705	786	27.3%
Netherlands	113	231	195	323	41.9%
China	29.0	36.7	38.6	136	67.4%
Czech Republic	73.0	95.0	117	110	14.6%
Vietnam	19.7	56.2	38.5	75.7	56.6%
Slovakia	3.7	20.4	28.9	31.5	104.2%
Poland	147	182	137	24.4	-45.0%
United Kingdom	58.7	136	7.1	0.2	-85.0%
Others	84.4	36.6	58.5	212	35.9%
Total	910	1,393	1,326	1,699	23.1%

Top Suppliers of Soya Sauce to Hungary in 2022:

Germany (173.4 tons)
China (114.0 tons)
Netherlands (89.8 tons)
Poland (68.5 tons)
Czech Republic (64.5 tons)
Vietnam (36.6 tons)
Slovakia (15.9 tons)
United Kingdom (0.1 tons)

Soya Sauce Exports in Hungary

In 2022, the amount of soya sauce exported from Hungary surged to 24 tons, with an increase of 37% against the previous year. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 6,361%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, soya sauce exports surged to $105K in 2022. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 5,167%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Export of Soya Sauce in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Czech Republic	N/A	8.6	17.2	24.4	68.4%
Slovakia	N/A	10.2	23.6	21.9	46.5%
Croatia	N/A	4.8	9.6	15.0	76.8%
Serbia	0.5	6.8	5.1	10.7	177.6%
Slovenia	N/A	4.4	7.3	10.7	55.9%
Romania	N/A	1.9	5.2	9.3	121.2%
Italy	N/A	2.5	4.7	5.5	48.3%
Others	0.3	3.4	4.5	7.7	195.0%
Total	0.8	42.7	77.4	105	408.2%

Top Export Markets for Soya Sauce from Hungary in 2022:

Czech Republic (5.2 tons)
Slovakia (4.9 tons)
Croatia (3.2 tons)
Serbia (3.0 tons)
Slovenia (2.4 tons)
Romania (1.9 tons)
Italy (1.2 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the soya sauce market in Hungary. 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:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. 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
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. 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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. 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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023