EU: Soya Sauce Market 2024

Soya Sauce Market Size in the EU

The EU soya sauce market rose to $X in 2022, picking up by 2.2% against the previous year. In general, consumption continues to indicate a resilient increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Soya Sauce Production in the EU

In value terms, soya sauce production rose sharply to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +133.9% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 18% against the previous year. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Soya Sauce Exports

Exports in the EU

In 2022, after six years of growth, there was significant decline in overseas shipments of soya sauce, when their volume decreased by -6.6% to X tons. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.2% against 2015 indices. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, soya sauce exports contracted to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +99.2% against 2015 indices. The pace of growth was the most pronounced in 2020 when exports increased by 30% against the previous year. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The Netherlands prevails in exports structure, accounting for X tons, which was near 79% of total exports in 2022. It was distantly followed by Germany (X tons), achieving a 5.6% share of total exports. Poland (X tons), Austria (X tons) and Belgium (X tons) held a minor share of total exports.

Exports from the Netherlands increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Austria (+27.2%), Poland (+24.2%), Germany (+6.9%) and Belgium (+1.3%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +27.2% from 2012-2022. While the share of Poland (+3 p.p.) and Austria (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest soya sauce supplier in the European Union, comprising 75% of total exports. The second position in the ranking was held by Germany ($X), with a 6.9% share of total exports. It was followed by Austria, with a 3.1% share.

In the Netherlands, soya sauce exports increased at an average annual rate of +3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+7.0% per year) and Austria (+25.4% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, shrinking by -6% against the previous year. Over the period under review, the export price showed a slight setback. The pace of growth was the most pronounced in 2021 an increase of 7% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Soya Sauce Imports

Imports in the EU

In 2022, after ten years of growth, there was decline in purchases abroad of soya sauce, when their volume decreased by -0.2% to X tons. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 13%. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, soya sauce imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Germany (X tons), the Netherlands (X tons) and France (X tons) was the main importer of soya sauce in the European Union, achieving 54% of total import. It was distantly followed by Spain (X tons), Italy (X tons), Poland (X tons) and Sweden (X tons), together comprising a 26% share of total imports. Austria (X tons), the Czech Republic (X tons), Belgium (X tons), Ireland (X tons), Denmark (X tons) and Portugal (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2022, together accounting for 50% of total imports. Spain, Italy, Sweden, Poland, Denmark, Austria, Belgium, the Czech Republic, Ireland and Portugal lagged somewhat behind, together accounting for a further 41%.

Among the main importing countries, Poland, with a CAGR of +17.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, declining by -7.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 13% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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