Report Update Apr 1, 2024

Ghana - Soya Sauce - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Soya Sauce Market 2024

Soya Sauce Market Size in Ghana

The Ghanian soya sauce market rose remarkably to $X in 2022, picking up by X% against the previous year. In general, consumption enjoyed a strong expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Soya Sauce Production in Ghana

In value terms, soya sauce production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Soya Sauce Exports

Exports from Ghana

In 2022, the amount of soya sauce exported from Ghana dropped rapidly to X kg, shrinking by X% against the year before. Overall, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, soya sauce exports dropped slightly to $X in 2022. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X kg) was the main destination for soya sauce exports from Ghana, with a X% share of total exports. Moreover, soya sauce exports to the United States exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%.

In value terms, the United States ($X) remains the key foreign market for soya sauce exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

In 2022, the average soya sauce export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price saw a mild expansion. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Soya Sauce Imports

Imports into Ghana

Soya sauce imports into Ghana contracted to X tons in 2022, falling by X% against the previous year's figure. Over the period under review, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, soya sauce imports contracted notably to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of soya sauce to Ghana, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Hong Kong SAR (X% per year).

In value terms, China ($X) constituted the largest supplier of soya sauce to Ghana, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2022, the average soya sauce import price amounted to $X per ton, which is down by X% against the previous year. In general, import price indicated a pronounced increase 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 import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for soya sauce in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, together comprising 23% of global consumption. Pakistan, Japan, Indonesia, Germany, Nigeria, Russia, Bangladesh, Brazil, the UK and Mexico lagged somewhat behind, together accounting for a further 28%.

What are the largest producers of soya sauce in the world?

China remains the largest soya sauce producing country worldwide, comprising approx. 24% of total volume. Moreover, soya sauce production in China exceeded the figures recorded by the second-largest producer, Japan, fourfold. The Netherlands ranked third in terms of total production with a 5.9% share.

What are the leading suppliers of soya sauce to Ghana?

In value terms, China constituted the largest supplier of soya sauce to Ghana, comprising 90% of total imports. The second position in the ranking was held by the United States, with a 4.9% share of total imports.

What are the leading importers of soya sauce from Ghana?

In value terms, the United States remains the key foreign market for soya sauce exports from Ghana, comprising 99% of total exports. The second position in the ranking was held by Canada $14), with a 0.5% share of total exports.

What is the average export price for soya sauce in Ghana?

The average soya sauce export price stood at $4,506 per ton in 2022, increasing by 16% against the previous year.

What is the average import price for soya sauce in Ghana?

In 2022, the average soya sauce import price amounted to $814 per ton, dropping by -6.7% against the previous year.

This report provides an in-depth analysis of the soya sauce market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10841210 - Soya sauce

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023