Asia: Soups Market 2024

Soups Market Size in Asia

The Asian soups market rose to $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Soups Production in Asia

In value terms, soups production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Soups Exports

Exports in Asia

In 2023, approx. X tons of soups and broths were exported in Asia; approximately mirroring the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, soups exports amounted to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Thailand (X tons), Turkey (X tons), China (X tons), the United Arab Emirates (X tons) and South Korea (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Malaysia (X tons), creating a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest soups supplying countries in Asia were China ($X), Japan ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices hit record highs in 2023 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Soups Imports

Imports in Asia

In 2023, the amount of soups and broths imported in Asia amounted to X tons, rising by X% compared with 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, soups imports reached $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Hong Kong SAR (X tons), followed by Japan (X tons), Singapore (X tons), the Philippines (X tons), Iraq (X tons), Taiwan (Chinese) (X tons) and Saudi Arabia (X tons) were the main importers of soups and broths, together committing X% of total imports. South Korea (X tons), Jordan (X tons), Indonesia (X tons), Kuwait (X tons), Thailand (X tons) and China (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Japan ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Taiwan (Chinese), Singapore, Indonesia, Kuwait, Jordan, South Korea, Iraq, Thailand, the Philippines and China lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, standing approx. at the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform