European Soya Sauce Market to Keep Growing Modestly in the Near Future

IndexBox has just published a new report: 'EU - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

In 2018, the revenue of the EU's soya sauce market reached $X in 2018. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).

Consumption By Country in the EU

The countries with the highest volumes of soya sauce consumption in 2018 were Germany (X tons), France (X tons) and the UK (X tons), with a combined X% share of total consumption. The Netherlands, Spain, Poland, Romania, Belgium, Greece, Italy, Portugal and Ireland lagged somewhat behind, together accounting for a further X%.

From 2008 to 2018, the most notable rate of growth in terms of soya sauce consumption, amongst the main consuming countries, was attained by Italy, while the other leaders experienced more modest paces of growth.

In value terms, France ($X) led the market, alone. The second position in the ranking was occupied by Spain ($X). It was followed by Germany.

The countries with the highest levels of soya sauce per capita consumption in 2018 were the Netherlands (X kg per X persons), Ireland (X kg per X persons) and Belgium (X kg per X persons).

From 2008 to 2018, the most notable rate of growth in terms of soya sauce per capita consumption, amongst the main consuming countries, was attained by Italy, while the other leaders experienced more modest paces of growth.

Market Forecast 2019-2025 in the EU

Driven by increasing demand for soya sauce in the European Union, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +X% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to X tons by the end of 2025.

Production in the EU

In 2018, approx. X tons of soya sauce were produced in the European Union; standing approx. at the previous year. The total output indicated a buoyant expansion from 2008 to 2018: 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 2018 figures, soya sauce production increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2015 when production volume increased by X% year-to-year. Over the period under review, soya sauce production reached its maximum volume at X tons in 2017, leveling off in the following year.

In value terms, soya sauce production totaled $X in 2018 estimated in export prices. The total output indicated perceptible growth from 2008 to 2018: 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 2018 figures, soya sauce production increased by +X% against 2014 indices. The growth pace was the most rapid in 2017 when production volume increased by X% y-o-y. The level of soya sauce production peaked in 2018 and is likely to see steady growth in the immediate term.

Exports in the EU

In 2018, the amount of soya sauce exported in the European Union amounted to X tons, picking up by X% against the previous year. Over the period under review, soya sauce exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, soya sauce exports attained their maximum in 2018 and are expected to retain its growth in the immediate term.

In value terms, soya sauce exports totaled $X (IndexBox estimates) in 2018. The total exports indicated a resilient expansion from 2008 to 2018: 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 2018 figures, soya sauce exports increased by +X% against 2015 indices. The growth pace was the most rapid in 2010 when exports increased by X% year-to-year. Over the period under review, soya sauce exports reached their maximum at $X in 2014; however, from 2015 to 2018, exports stood at a somewhat lower figure.

Exports by Country

The Netherlands prevails in soya sauce exports structure, recording X tons, which was near X% of total exports in 2018. The UK (X tons) took the second position in the ranking, followed by Germany (X tons). All these countries together occupied approx. X% share of total exports. Poland (X tons), Belgium (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2008 to 2018, average annual rates of growth with regard to soya sauce exports from the Netherlands stood at +X%. At the same time, Sweden (+X%), the UK (+X%), Germany (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter in the European Union, with a CAGR of +X% from 2008-2018. By contrast, Poland (-X%) illustrated a downward trend over the same period. While the share of the Netherlands (+X p.p.), the UK (+X p.p.), Sweden (+X p.p.) and Germany (+X p.p.) increased significantly in terms of the total exports from 2008-2018, the share of Poland (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest soya sauce supplier in the European Union, comprising X% of total soya sauce exports. The second position in the ranking was occupied by the UK ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

In the Netherlands, soya sauce exports increased at an average annual rate of +X% over the period from 2008-2018. In the other countries, the average annual rates were as follows: the UK (+X% per year) and Germany (+X% per year).

Export Prices by Country

The soya sauce export price in the European Union stood at $X per ton in 2018, surging by X% against the previous year. Overall, the soya sauce export price, however, continues to indicate a measured curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by X% year-to-year. The level of export price peaked at $X per ton in 2011; however, from 2012 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Belgium ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Belgium, while the other leaders experienced a decline in the export price figures.

Imports in the EU

The imports stood at X tons in 2018, surging by X% against the previous year. The total imports indicated a buoyant expansion from 2008 to 2018: 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 2018 figures, soya sauce imports increased by +X% against 2008 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of imports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, soya sauce imports stood at $X (IndexBox estimates) in 2018. The total imports indicated a prominent increase from 2008 to 2018: 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 2018 figures, soya sauce imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% year-to-year. The level of imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, the Netherlands (X tons), the UK (X tons), France (X tons) and Germany (X tons) represented the largest importers of soya sauce in the European Union, constituting X% of total import. Spain (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by Belgium (X%). Italy (X tons), Sweden (X tons), Poland (X tons), Ireland (X tons), Finland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Finland, while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2018, together comprising X% of total imports. These countries were followed by the UK, Spain, Italy, Belgium, Sweden, Ireland, Poland, Austria and Finland, which together accounted for a further X%.

Among the main importing countries, Italy experienced the highest growth rate of imports, over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The soya sauce import price in the European Union stood at $X per ton in 2018, increasing by X% against the previous year. In general, the soya sauce import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the import price increased by X% year-to-year. Over the period under review, the import prices for soya sauce reached their maximum at $X per ton in 2013; however, from 2014 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Italy ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of prices was attained by Sweden, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform