Eastern Asia: Soups Market 2024

Soups Market Size in Eastern Asia

The East Asian soups market rose to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Soups Production in Eastern Asia

In value terms, soups production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

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Soups Exports

Exports in Eastern Asia

In 2023, overseas shipments of soups and broths decreased by X% to X tons, falling for the second year in a row after two years of growth. Total exports indicated temperate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, soups exports shrank modestly to $X in 2023. Total exports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) and China (X tons) represented the largest exporters of soups and broths in 2023, reaching near X% and X% of total exports, respectively. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together mixing up a X% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The export price in Eastern Asia stood at $X per ton in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($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 a decline in the export price figures.

Soups Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in supplies from abroad of soups and broths, which decreased by X% to X tons in 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, soups imports reduced to $X in 2023. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, Hong Kong SAR (X tons) represented the largest importer of soups and broths, mixing up X% of total imports. It was distantly followed by Japan (X tons), Taiwan (Chinese) (X tons), South Korea (X tons) and China (X tons), together making up a X% share of total imports. Macao SAR (X tons) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest soups importing markets in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of X%, saw 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 Eastern Asia stood at $X per ton in 2023, picking up by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X%. Over the period under review, import prices hit record highs in 2023 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Japan ($X per ton) and Macao SAR ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform