GCC: Soya Sauce Market 2024

Soya Sauce Market Size in GCC

The GCC soya sauce market reached $X in 2022, with an increase of X% against the previous year. Overall, consumption posted strong growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soya Sauce Production in GCC

In value terms, soya sauce production rose significantly to $X in 2022 estimated in export price. Overall, production saw a significant expansion. The growth pace was the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Soya Sauce Exports

Exports in GCC

Soya sauce exports skyrocketed to X tons in 2022, jumping by X% against the previous year's figure. Overall, exports showed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, soya sauce exports surged to $X in 2022. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of soya sauce, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the soya sauce exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest soya sauce supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, dropping by X% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price 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, soya sauce export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Soya Sauce Imports

Imports in GCC

In 2022, overseas purchases of soya sauce increased by X% to X tons, rising for the fourth year in a row after two years of decline. Total imports indicated a resilient expansion 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 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, soya sauce imports skyrocketed to $X in 2022. Total imports indicated a resilient expansion 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 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates imports structure, together achieving X% of total imports. Qatar (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%). The following importers - Oman (X tons) and Bahrain (X tons) - each resulted at a X% share of total imports.

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

In value terms, the largest soya sauce importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined X% share of total imports. Kuwait, Bahrain and Oman lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Oman, 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 GCC amounted to $X per ton, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then contracted in the following year.

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

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

Source: IndexBox Platform

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