Asia: Soya Sauce Market 2024

Soya Sauce Market Size in Asia

The Asian soya sauce market expanded sharply to $X in 2022, with an increase of X% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Soya Sauce Production in Asia

In value terms, soya sauce production expanded rapidly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Soya Sauce Exports

Exports in Asia

Soya sauce exports expanded modestly to X tons in 2022, increasing by X% compared with the year before. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, soya sauce exports stood at $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% 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.

Exports by Country

China was the key exporting country with an export of about X tons, which amounted to X% of total exports. Japan (X tons) took the second position in the ranking, followed by Thailand (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and Hong Kong SAR (X tons). All these countries together took near X% share of total exports. The following exporters - Malaysia (X tons) and Indonesia (X tons) - each resulted at an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to soya sauce exports from China stood at X%. At the same time, Japan (X%), Thailand (X%), Malaysia (X%), Indonesia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Japan (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest soya sauce supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, approximately equating the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Soya Sauce Imports

Imports in Asia

In 2022, approx. X tons of soya sauce were imported in Asia; with an increase of X% against 2021 figures. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, soya sauce imports amounted to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Indonesia (X tons), Hong Kong SAR (X tons), South Korea (X tons), China (X tons), Singapore (X tons), the Philippines (X tons), Malaysia (X tons), Thailand (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) represented roughly X% of total imports in 2022. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soya sauce importing markets in Asia were Hong Kong SAR ($X), Indonesia ($X) and China ($X), together accounting for X% of total imports. South Korea, Thailand, Singapore, Vietnam, the Philippines, Malaysia, Taiwan (Chinese), Saudi Arabia, the United Arab Emirates and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of import peaked at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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