Australia: Soya Sauce Market 2025

Soya Sauce Market Size in Australia

The Australian soya sauce market was estimated at $X in 2022, with an increase of 11% against the previous year. 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). The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Soya sauce consumption peaked in 2022 and is expected to retain growth in the near future.

Soya Sauce Exports

Exports from Australia

In 2022, the amount of soya sauce exported from Australia surged to X tons, increasing by 92% compared with 2021. Overall, exports showed a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 297% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soya sauce exports skyrocketed to $X in 2022. In general, exports showed strong growth. The growth pace was the most rapid in 2019 with an increase of 494% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Papua New Guinea (X tons) was the main destination for soya sauce exports from Australia, with a 50% share of total exports. Moreover, soya sauce exports to Papua New Guinea exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. The third position in this ranking was taken by Maldives (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Papua New Guinea stood at +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-5.2% per year) and Maldives (+206.3% per year).

In value terms, Papua New Guinea ($X), New Zealand ($X) and Maldives ($X) appeared to be the largest markets for soya sauce exported from Australia worldwide, together accounting for 78% of total exports.

Maldives, with a CAGR of +186.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average soya sauce export price amounted to $X per ton, declining by -15.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 50% against the previous year. The export price peaked at $X per ton in 2021, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Nauru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into Australia

In 2022, the amount of soya sauce imported into Australia expanded remarkably to X tons, increasing by 12% against 2021 figures. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 13% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, soya sauce imports rose significantly to $X in 2022. Over the period under review, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +58.6% against 2013 indices. The most prominent rate of growth was recorded in 2020 with an increase of 12%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Singapore (X tons) and Indonesia (X tons) were the main suppliers of soya sauce imports to Australia, with a combined 69% share of total imports. Japan, South Korea, Thailand, Hong Kong SAR, the Philippines and Malaysia lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +9.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Japan ($X) appeared to be the largest soya sauce suppliers to Australia, together accounting for 70% of total imports. Indonesia, Thailand, Hong Kong SAR, South Korea, Malaysia and the Philippines lagged somewhat behind, together comprising a further 25%.

The Philippines, with a CAGR of +13.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average soya sauce import price amounted to $X per ton, approximately equating the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, soya sauce import price decreased by -1.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 43% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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