Australia and Oceania: Soups Market 2024

Soups Market Size in Australia and Oceania

The soups market in Australia and Oceania stood at $X in 2021, picking up by 4.8% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Soups Production in Australia and Oceania

In value terms, soups production rose to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Soups Exports

Exports in Australia and Oceania

In 2021, soups exports in Australia and Oceania fell to X tons, declining by -2% on 2020. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 99.9% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, soups exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the two major exporters of soups and broths, namely Australia and New Zealand, represented more than two-thirds of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Australia (with a CAGR of +6.6%).

In value terms, the largest soups supplying countries in Australia and Oceania were Australia ($X) and New Zealand ($X).

Among the main exporting countries, Australia, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, picking up by 19% against the previous year. Overall, the export price, however, continues to indicate a slight descent. The growth pace was the most rapid in 2016 when the export price increased by 100% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (-0.2%).

Soups Imports

Imports in Australia and Oceania

In 2021, imports of soups and broths in Australia and Oceania fell to X tons, waning by -9.9% on the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 27%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, soups imports rose modestly to $X in 2021. In general, imports, however, saw a slight increase. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Australia (X tons) was the main importer of soups and broths, comprising 78% of total imports. New Zealand (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Papua New Guinea (4.8%). New Caledonia (X tons) held a relatively small share of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of soups and broths. At the same time, Papua New Guinea (+33.4%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +33.4% from 2012-2021. New Caledonia and New Zealand experienced a relatively flat trend pattern. Papua New Guinea (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported soups and broths in Australia and Oceania, comprising 74% of total imports. The second position in the ranking was held by New Zealand ($X), with an 18% share of total imports. It was followed by Papua New Guinea, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value in Australia was relatively modest. In the other countries, the average annual rates were as follows: New Zealand (+4.7% per year) and Papua New Guinea (+36.2% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, with an increase of 13% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soups import price increased by +12.1% against 2018 indices. The pace of growth was the most pronounced in 2018 when the import price increased by 49% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in New Zealand ($X per ton) and Papua New Guinea ($X per ton), while Australia ($X per ton) and New Caledonia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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