Eastern Asia: Soya Sauce Market 2024

Soya Sauce Market Size in Eastern Asia

In 2022, the East Asian soya sauce market decreased by X% to $X, falling for the second year in a row after seven years of growth. The total consumption indicated tangible 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, consumption decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Soya Sauce Production in Eastern Asia

In value terms, soya sauce production amounted to $X in 2022 estimated in export price. The total production indicated perceptible 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 appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Soya Sauce Exports

Exports in Eastern Asia

In 2022, the amount of soya sauce exported in Eastern Asia reached X tons, therefore, remained relatively stable against the previous year's figure. Total exports indicated notable growth 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 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, soya sauce exports contracted slightly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

China represented the main exporter of soya sauce in Eastern Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. Japan (X tons) ranks second in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%), Hong Kong SAR (X%) and South Korea (X%).

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%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern 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.) and Japan (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 ($X) remains the largest soya sauce supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

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

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, declining by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($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 Eastern Asia

In 2022, imports of soya sauce in Eastern Asia declined to X tons, with a decrease of X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, soya sauce imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of soya sauce, namely Hong Kong SAR, South Korea and China, represented more than two-thirds of total import. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by Japan (X tons) and Macao SAR (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, South Korea, 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

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021, and then declined modestly in the following year.

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

From 2012 to 2022, 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

Frequently Asked Questions (FAQ) :