Global Soya Sauce Market 2024

Soya Sauce Market Size

The global soya sauce market reached $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated prominent 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, consumption increased by X% against 2013 indices. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Soya Sauce Production

In value terms, soya sauce production rose sharply to $X in 2022 estimated in export price. In general, the total production 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Global production peaked at $X in 2020; afterwards, it flattened through to 2022.

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Soya Sauce Exports

Exports

For the seventh consecutive year, the global market recorded growth in overseas shipments of soya sauce, which increased by X% to X tons in 2022. Overall, total exports indicated buoyant 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, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, soya sauce exports dropped slightly to $X in 2022. In general, total exports indicated resilient 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, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined slightly in the following year.

Exports by Country

China was the main exporting country with an export of about X tons, which amounted to X% of total exports. The Netherlands (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United States (X%), Japan (X%), Thailand (X%), Taiwan (Chinese) (X%) and Singapore (X%). Hong Kong SAR (X tons), Malaysia (X tons), Indonesia (X tons), South Korea (X tons) and the Philippines (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to soya sauce exports from China stood at X%. At the same time, Japan (X%), Thailand (X%), the United States (X%), the Netherlands (X%), Malaysia (X%), Indonesia (X%), the Philippines (X%), Singapore (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Japan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the Netherlands ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of global exports. Japan, Singapore, Thailand, Hong Kong SAR, Taiwan (Chinese), Malaysia, Indonesia, South Korea and the Philippines lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average soya sauce export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The global export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 the Netherlands ($X per ton), while China ($X per ton) was amongst the lowest.

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

Soya Sauce Imports

Imports

In 2022, the amount of soya sauce imported worldwide expanded slightly to X tons, with an increase of X% against 2021. In general, total imports indicated buoyant 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 appeared the most rapid in 2021 when imports increased by X%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, soya sauce imports amounted to $X in 2022. Over the period under review, total imports indicated prominent 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 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the United States (X tons), distantly followed by Canada (X tons) represented the key importers of soya sauce, together making up X% of total imports. The following importers - Germany (X tons), the Netherlands (X tons), the UK (X tons), Australia (X tons), France (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Russia (X tons), South Korea (X tons), China (X tons) and Singapore (X tons) - together made up X% of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Germany (X%), France (X%), the Netherlands (X%), Canada (X%), Singapore (X%), Indonesia (X%), China (X%) and the UK (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. Australia and Russia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of Germany (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Russia (X p.p.), the UK (X p.p.), Australia (X p.p.), the United States (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest soya sauce importing markets worldwide were the United States ($X), France ($X) and Canada ($X), with a combined X% share of global imports. Germany, the Netherlands, the UK, Australia, Hong Kong SAR, Indonesia, China, South Korea, Russia and Singapore lagged somewhat behind, together comprising a further X%.

Among the main importing countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average soya sauce import price stood at $X per ton in 2022, with a decrease of X% against 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 2020 an increase of X%. Global import price peaked at $X per ton in 2021, and then declined slightly in the following year.

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

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

Source: IndexBox Platform

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