Egypt: Soya Sauce Market 2024

Soya Sauce Market Size in Egypt

The Egyptian soya sauce market was estimated at $X in 2022, rising by 13% against the previous year. In general, consumption posted a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Soya Sauce Production in Egypt

In value terms, soya sauce production expanded sharply to $X in 2022 estimated in export price. Overall, production posted prominent growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 71% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Soya Sauce Exports

Exports from Egypt

In 2022, overseas shipments of soya sauce decreased by -89.5% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2019 when exports increased by 466% against the previous year. As a result, the exports attained 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 contracted notably to $X in 2022. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 339%. 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

Palestine (X tons) was the main destination for soya sauce exports from Egypt, with a 70% share of total exports. Moreover, soya sauce exports to Palestine exceeded the volume sent to the second major destination, Germany (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Palestine amounted to +6.3%.

In value terms, Palestine ($X) emerged as the key foreign market for soya sauce exports from Egypt, comprising 70% of total exports. The second position in the ranking was held by Germany ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Palestine totaled +25.2%.

Export Prices by Country

The average soya sauce export price stood at $X per ton in 2022, with a decrease of -17.1% against the previous year. In general, the export price, however, posted a modest increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 34% against the previous year. The export price peaked at $X per ton in 2021, and then shrank dramatically in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Palestine totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Palestine (+17.8%), while the prices for the other major destinations experienced mixed trend patterns.

Soya Sauce Imports

Imports into Egypt

In 2022, the amount of soya sauce imported into Egypt skyrocketed to X tons, jumping by 46% compared with 2021. In general, imports posted strong growth. The growth pace was the most rapid in 2021 with an increase of 167% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, soya sauce imports skyrocketed to $X in 2022. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 187%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of soya sauce to Egypt, accounting for a 62% share of total imports. Moreover, soya sauce imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.7% per year) and Germany (+18.3% per year).

In value terms, China ($X) constituted the largest supplier of soya sauce to Egypt, comprising 62% of total imports. The second position in the ranking was taken by the United States ($X), with a 19% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.3% per year) and Germany (+19.9% per year).

Import Prices by Country

In 2022, the average soya sauce import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Lebanon ($X per ton) and the United States ($X per ton), while the price for Thailand ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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