China - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoya Sauce Price in China - 2023
Contents:
- Soya Sauce Price in China (FOB) - 2023
- Soya Sauce Price in China (CIF) - 2023
- Soya Sauce Exports in China
- Soya Sauce Imports in China
Soya Sauce Price in China (FOB) - 2023
The average soya sauce export price stood at $975 per ton in June 2023, shrinking by -3.7% against the previous month. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 an increase of 2.3% month-to-month. Over the period under review, the average export prices reached the peak figure at $1,028 per ton in August 2022; however, from September 2022 to June 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In June 2023, the country with the highest price was Germany ($1,374 per ton), while the average price for exports to Indonesia ($787 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.
Soya Sauce Price in China (CIF) - 2023
The average soya sauce import price stood at $1,857 per ton in June 2023, increasing by 17% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +2.0%. The growth pace was the most rapid in September 2022 when the average import price increased by 28% m-o-m. Over the period under review, average import prices hit record highs at $1,965 per ton in March 2023; however, from April 2023 to June 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($2,271 per ton), while the price for South Korea ($1,066 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Soya Sauce Exports in China
In 2022, exports of soya sauce from China expanded to 186K tons, growing by 1.5% against 2021 figures. The total export volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.
In value terms, soya sauce exports amounted to $184M in 2022. The total export value increased at an average annual rate of +7.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.
Export of Soya Sauce in China (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 18.4 | 30.8 | 34.0 | 35.8 | 24.8% |
Australia | 6.8 | 9.5 | 8.8 | 10.7 | 16.3% |
Russia | 6.1 | 6.9 | 9.1 | 9.9 | 17.5% |
Netherlands | 4.9 | 7.0 | 9.3 | 8.5 | 20.2% |
Germany | 6.1 | 7.9 | 10.5 | 7.7 | 8.1% |
Canada | 4.6 | 6.4 | 6.6 | 7.3 | 16.6% |
United Kingdom | 4.0 | 6.1 | 7.7 | 7.2 | 21.6% |
Indonesia | 6.2 | 4.6 | 4.6 | 5.7 | -2.8% |
Malaysia | 4.2 | 4.9 | 5.1 | 5.3 | 8.1% |
South Korea | 3.7 | 4.3 | 5.7 | 5.3 | 12.7% |
France | 3.5 | 3.3 | 4.8 | 4.5 | 8.7% |
Senegal | 0.6 | 0.8 | 2.0 | 2.7 | 65.1% |
Peru | 1.6 | 0.9 | 1.4 | 2.3 | 12.9% |
Others | 77.6 | 57.5 | 67.4 | 70.9 | -3.0% |
Total | 148 | 151 | 177 | 184 | 7.5% |
Top Export Markets for Soya Sauce from China in 2022:
- United States (41.0K tons)
- Russia (10.1K tons)
- Australia (9.0K tons)
- Netherlands (7.7K tons)
- Canada (7.3K tons)
- Indonesia (6.8K tons)
- United Kingdom (6.8K tons)
- Germany (6.0K tons)
- Malaysia (5.7K tons)
- South Korea (4.5K tons)
- France (3.7K tons)
- Peru (3.5K tons)
- Senegal (3.3K tons)
Soya Sauce Imports in China
In 2022, the amount of soya sauce imported into China reduced to 11K tons, dropping by -11.9% on 2021. Overall, imports recorded a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 19%.
In value terms, soya sauce imports dropped notably to $19M in 2022. In general, imports continue to indicate a pronounced descent. The growth pace was the most rapid in 2021 when imports increased by 20%. As a result, imports reached the peak of $23M, and then contracted markedly in the following year.
Import of Soya Sauce in China (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Singapore | 9.3 | 7.0 | 9.4 | 9.2 | -0.4% |
Japan | 7.5 | 6.7 | 7.8 | 6.4 | -5.1% |
South Korea | 1.2 | 0.6 | 0.6 | 0.4 | -30.7% |
Vietnam | 0.2 | 0.2 | N/A | 0.2 | 0.0% |
Taiwan (Chinese) | 2.8 | N/A | N/A | N/A | 0% |
Others | 1.0 | 4.3 | 4.7 | 2.9 | 42.6% |
Total | 22.0 | 18.8 | 22.5 | 19.0 | -4.8% |
Top Suppliers of Soya Sauce to China in 2022:
- Japan (4.5K tons)
- Singapore (4.5K tons)
- South Korea (0.5K tons)
- Vietnam (0.2K tons)
This report provides an in-depth analysis of the soya sauce market in China. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The price of Soya Sauce in June 2023 was $975 per ton (FOB, China), which is a decrease of -3.7% compared to the previous month.