Report Update: May 1, 2024

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

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Soya Sauce Price in India - 2023

Soya Sauce Price in India (CIF) - 2023

The average soya sauce import price stood at $1,515 per ton in July 2023, shrinking by -4.5% against the previous month. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 an increase of 18% m-o-m. The import price peaked at $1,920 per ton in March 2023; however, from April 2023 to July 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Thailand ($1,654 per ton), while the price for Japan ($1,069 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the prices for the other major suppliers experienced a decline.

Soya Sauce Price in India (FOB) - 2023

The average soya sauce export price stood at $1,639 per ton in July 2023, with an increase of 66% against the previous month. Over the period under review, the export price continues to indicate a pronounced increase. The most prominent rate of growth was recorded in February 2023 an increase of 93% against the previous month. As a result, the export price attained the peak level of $2,121 per ton. From March 2023 to July 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($3,261 per ton), while the average price for exports to Nepal ($670 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bhutan (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports in India

Soya sauce imports into India expanded significantly to 1.5K tons in 2022, picking up by 11% against the previous year. In general, imports recorded strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 128% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, soya sauce imports skyrocketed to $2.7M in 2022. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Import of Soya Sauce in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,250	630	983	1,801	12.9%
Japan	83.4	116	307	429	72.6%
Malaysia	65.6	27.4	463	123	23.3%
Thailand	134	66.8	206	117	-4.4%
Singapore	423	246	215	80.0	-42.6%
Hong Kong SAR	N/A	12.3	93.3	39.5	79.2%
Others	114	111	65.6	101	-4.0%
Total	2,070	1,209	2,334	2,690	9.1%

Top Suppliers of Soya Sauce to India in 2022:

China (1141.7 tons)
Japan (140.5 tons)
Malaysia (70.2 tons)
Thailand (43.2 tons)
Singapore (23.6 tons)
Hong Kong SAR (23.6 tons)

Soya Sauce Exports in India

In 2022, overseas shipments of soya sauce increased by 29% to 1.3K tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +7.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, soya sauce exports skyrocketed to $1.5M in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Soya Sauce in India (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Nepal	260	203	271	438	19.0%
United States	154	278	102	357	32.3%
United Arab Emirates	208	284	269	265	8.4%
Bhutan	14.3	48.0	70.9	103	93.1%
Canada	18.5	46.9	25.2	77.8	61.4%
Germany	5.5	14.5	13.1	30.9	77.8%
United Kingdom	60.5	62.6	14.9	30.0	-20.8%
Nigeria	136	138	149	29.9	-39.6%
Australia	21.2	23.2	50.8	28.0	9.7%
Others	115	111	99.2	142	7.3%
Total	993	1,209	1,064	1,501	14.8%

Top Export Markets for Soya Sauce from India in 2022:

Nepal (792.9 tons)
United States (167.6 tons)
United Arab Emirates (126.9 tons)
Bhutan (66.2 tons)
Canada (42.3 tons)
Germany (20.4 tons)
United Kingdom (17.2 tons)
Australia (15.5 tons)
Nigeria (7.8 tons)

Source: IndexBox Market Intelligence Platform

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

India

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in India
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