South-Eastern Asia: Soups Market 2024

Soups Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian soups market increased by X% to $X in 2022. The market 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. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Soups Production in South-Eastern Asia

In value terms, soups production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2017; afterwards, it flattened through to 2022.

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Soups Exports

Exports in South-Eastern Asia

Soups exports amounted to X tons in 2022, remaining constant against 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, soups exports reached $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 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Thailand (X tons) represented the key exporter of soups and broths, committing X% of total exports. It was distantly followed by Malaysia (X tons), achieving a X% share of total exports. The Philippines (X tons), Vietnam (X tons) and Singapore (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to soups exports from Thailand stood at X%. At the same time, Vietnam (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, the Philippines (X%) and Malaysia (X%) illustrated a downward trend over the same period. Thailand (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while the Philippines and Malaysia 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, Thailand ($X) remains the largest soups supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Soups Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of soups and broths increased by X% to X tons, rising for the fourth year in a row after two years of decline. Total imports indicated moderate 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 2018 indices. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, soups imports rose significantly to $X in 2022. Total imports indicated measured 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, imports increased by X% against 2014 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Singapore (X tons), the Philippines (X tons), Indonesia (X tons) and Thailand (X tons) represented roughly X% of total imports in 2022. The following importers - Malaysia (X tons), Vietnam (X tons) and Lao People's Democratic Republic (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The Philippines, Malaysia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

Lao People's Democratic Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

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 Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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