South-Eastern Asia: Soups Market 2024

Soups Market Size in South-Eastern Asia

In 2023, the Southeast Asian soups market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2023.

Soups Production in South-Eastern Asia

In value terms, soups production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; afterwards, it flattened through to 2023.

Soups Exports

Exports in South-Eastern Asia

In 2023, approx. X tons of soups and broths were exported in South-Eastern Asia; shrinking by X% compared with 2022. Over the period under review, exports showed a noticeable decrease. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, soups exports declined slightly to $X in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Thailand was the largest exporter of soups and broths in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. It was distantly followed by Malaysia (X tons), achieving a X% share of total exports. The following exporters - the Philippines (X tons) and Vietnam (X tons) - together made up X% of total exports.

Thailand was also the fastest-growing in terms of the soups and broths exports, with a CAGR of X% from 2012 to 2023. Malaysia experienced a relatively flat trend pattern. the Philippines (X%) and Vietnam (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Vietnam (X p.p.) displayed negative dynamics. 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.

In Thailand, soups exports increased at an average annual rate of X% over the period from 2012-2023. 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

In 2023, the export price in South-Eastern Asia amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Thailand ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Soups Imports

Imports in South-Eastern Asia

In 2023, overseas purchases of soups and broths increased by X% to X tons, rising for the fifth year in a row after two years of decline. Total imports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, soups imports declined to $X in 2023. Total imports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then reduced in the following year.

Imports by Country

Singapore (X tons) and the Philippines (X tons) represented roughly X% of total imports in 2023. Indonesia (X tons) ranks next in terms of the total imports with a X% share, followed by Thailand (X%). 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 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest soups importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), with a combined X% share of total imports. The Philippines, Malaysia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2023, the import price in South-Eastern Asia amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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 2023, 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