Latin America and the Caribbean: Soya Sauce Market 2024

Soya Sauce Market Size in Latin America and the Caribbean

The Latin American soya sauce market reached $X in 2022, growing by X% against the previous year. The total consumption indicated a tangible increase 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 increased by X% against 2013 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Soya Sauce Production in Latin America and the Caribbean

In value terms, soya sauce production expanded modestly to $X in 2022 estimated in export price. The total production indicated noticeable 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 growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Soya Sauce Exports

Exports in Latin America and the Caribbean

For the eleventh year in a row, LatAmerica and the Caribbean recorded growth in overseas shipments of soya sauce, which increased by X% to X tons in 2022. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, soya sauce exports reached $X in 2022. In general, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Peru (X tons), distantly followed by Brazil (X tons) and the Dominican Republic (X tons) were the main exporters of soya sauce, together achieving X% of total exports. Guatemala (X tons), Ecuador (X tons), Honduras (X tons) and El Salvador (X tons) held a little share of total exports.

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

In value terms, Peru ($X), Brazil ($X) and the Dominican Republic ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Soya Sauce Imports

Imports in Latin America and the Caribbean

In 2022, imports of soya sauce in Latin America and the Caribbean rose to X tons, with an increase of X% compared with the previous year. Total imports indicated prominent 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, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. 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 rose notably to $X in 2022. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) was the largest importer of soya sauce, achieving X% of total imports. It was distantly followed by Chile (X tons), Peru (X tons), the Dominican Republic (X tons), Panama (X tons) and Brazil (X tons), together committing a X% share of total imports. Colombia (X tons), Guatemala (X tons), Costa Rica (X tons), Trinidad and Tobago (X tons), Bolivia (X tons) and Honduras (X tons) took a little share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Panama (X%), the Dominican Republic (X%), Costa Rica (X%), Brazil (X%), Peru (X%), Colombia (X%), Chile (X%), Trinidad and Tobago (X%), Guatemala (X%) and Bolivia (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Honduras experienced a relatively flat trend pattern. Panama (X p.p.), Peru (X p.p.), the Dominican Republic (X p.p.), Brazil (X p.p.), Chile (X p.p.) and Costa Rica (X p.p.) significantly strengthened its position in terms of the total imports, while Honduras and Mexico saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported soya sauce in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (X% per year) and Peru (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Trinidad and Tobago ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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