U.S. - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoya Sauce Price in the United States - 2023
Contents:
- Soya Sauce Price in the United States (CIF) - 2023
- Soya Sauce Price in the United States (FOB) - 2023
- Soya Sauce Imports in the United States
- Soya Sauce Exports in the United States
Soya Sauce Price in the United States (CIF) - 2023
In August 2023, the average soya sauce import price amounted to $1,284 per ton, remaining stable against the previous month. Over the period under review, the import price recorded a slight contraction. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 11% against the previous month. The import price peaked at $1,496 per ton in August 2022; however, from September 2022 to August 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($2,113 per ton), while the price for China ($970 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Canada (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Soya Sauce Price in the United States (FOB) - 2023
The average soya sauce export price stood at $1,589 per ton in August 2023, reducing by -9.5% against the previous month. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2023 an increase of 9.9% against the previous month. As a result, the export price reached the peak level of $1,755 per ton, and then fell in the following month.
Average prices varied noticeably for the major external markets. In August 2023, the highest price was recorded for prices to Canada ($1,617 per ton) and Australia ($1,461 per ton), while the average price for exports to Belgium ($1,336 per ton) and Chile ($1,359 per ton) were amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.
Soya Sauce Imports in the United States
For the fourth consecutive year, the United States recorded growth in overseas purchases of soya sauce, which increased by 6.6% to 86K tons in 2022. The total import volume increased at an average annual rate of +4.4% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, soya sauce imports rose remarkably to $111M in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Soya Sauce in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 37.2 | 36.5 | 40.1 | 42.9 | 4.9% |
| Japan | 15.5 | 16.9 | 14.4 | 18.2 | 5.5% |
| Hong Kong SAR | 16.4 | 12.1 | 14.3 | 14.9 | -3.1% |
| Thailand | 10.3 | 8.2 | 8.3 | 9.4 | -3.0% |
| Taiwan (Chinese) | 5.2 | 5.8 | 6.0 | 6.7 | 8.8% |
| Philippines | 4.6 | 5.7 | 4.0 | 5.5 | 6.1% |
| South Korea | 3.2 | 3.5 | 3.6 | 3.4 | 2.0% |
| Canada | 3.5 | 4.0 | 3.4 | 3.2 | -2.9% |
| Others | 7.1 | 6.4 | 6.3 | 6.7 | -1.9% |
| Total | 103 | 99.1 | 100 | 111 | 2.5% |
Top Suppliers of Soya Sauce to the United States in 2022:
- China (44.2K tons)
- Hong Kong SAR (9.6K tons)
- Japan (9.3K tons)
- Thailand (6.5K tons)
- Philippines (4.1K tons)
- Taiwan (Chinese) (3.9K tons)
- South Korea (2.6K tons)
- Canada (2.1K tons)
Soya Sauce Exports in the United States
In 2022, approx. 50K tons of soya sauce were exported from the United States; with an increase of 19% on 2021. In general, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +13.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. The exports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, soya sauce exports expanded sharply to $80M in 2022. The total export value increased at an average annual rate of +11.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Soya Sauce in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 27.7 | 30.1 | 34.3 | 36.0 | 9.1% |
| Mexico | 10.6 | 11.1 | 15.4 | 16.9 | 16.8% |
| Honduras | 0.1 | 0.1 | 0.2 | 11.3 | 383.5% |
| Chile | 2.4 | 2.4 | 5.0 | 2.6 | 2.7% |
| Israel | 2.5 | 1.4 | 3.7 | 1.5 | -15.7% |
| Others | 14.6 | 12.3 | 13.4 | 12.0 | -6.3% |
| Total | 57.8 | 57.3 | 72.0 | 80.2 | 11.5% |
Top Export Markets for Soya Sauce from the United States in 2022:
- Canada (21.4K tons)
- Mexico (11.2K tons)
- Honduras (8.3K tons)
- Chile (1.8K tons)
- Israel (0.8K tons)
This report provides an in-depth analysis of the soya sauce market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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
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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
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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
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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
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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
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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
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