Iran: Soya Sauce Market 2024

Soya Sauce Market Size in Iran

The Iranian soya sauce market contracted slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Soya Sauce Production in Iran

In value terms, soya sauce production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Soya sauce production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Soya Sauce Exports

Exports from Iran

In 2022, overseas shipments of soya sauce decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, soya sauce exports dropped notably to $X in 2022. In general, exports showed a slight descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Austria (X tons) and Azerbaijan (X tons) were the main destinations of soya sauce exports from Iran, together accounting for X% of total exports. The United Arab Emirates, Norway, Sweden and Pakistan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of X.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soya sauce exported from Iran were Australia ($X), Norway ($X) and Austria ($X), together accounting for X% of total exports.

Norway, with a CAGR of X.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soya sauce export price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into Iran

In 2022, purchases abroad of soya sauce increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, soya sauce imports soared to $X in 2022. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest soya sauce supplier to Iran, with a X% share of total imports. Moreover, soya sauce imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United Arab Emirates (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of soya sauce to Iran, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from South Korea stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and China (X% per year).

Import Prices by Country

The average soya sauce import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a slight decline. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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