GCC: Soya Sauce Market 2025

Soya Sauce Market Size in GCC

The GCC soya sauce market dropped rapidly to $X in 2022, with a decrease of -36% against the previous year. Overall, consumption, however, saw a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped sharply in the following year.

Soya Sauce Production in GCC

In value terms, soya sauce production reduced to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 890%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Soya Sauce Exports

Exports in GCC

In 2022, overseas shipments of soya sauce increased by 98% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, soya sauce exports dropped sharply to $X in 2022. Over the period under review, exports posted resilient growth. The growth pace was the most rapid in 2017 with an increase of 71%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. 93% of total exports in 2022. The following exporters - Kuwait (X tons) and Oman (X tons) - together made up 7% of total exports.

From 2012 to 2022, average annual rates of growth with regard to soya sauce exports from the United Arab Emirates stood at +6.8%. At the same time, Kuwait (+14.7%) and Oman (+7.9%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +14.7% from 2012-2022. While the share of Kuwait (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest soya sauce supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by Oman ($X), with a 9.5% share of total exports.

In the United Arab Emirates, soya sauce exports increased at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+8.4% per year) and Kuwait (+3.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, reducing by -57.9% against the previous year. Overall, the export price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 46%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat 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 Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.5%), while the other leaders experienced a decline in the export price figures.

Soya Sauce Imports

Imports in GCC

In 2022, after three years of growth, there was significant decline in purchases abroad of soya sauce, when their volume decreased by -46.6% to X tons. Over the period under review, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2019 with an increase of 33%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted remarkably in the following year.

In value terms, soya sauce imports declined rapidly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 30% against the previous year. The level of import peaked at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the key importer of soya sauce, committing 63% of total imports. It was distantly followed by Qatar (X tons), Kuwait (X tons) and Bahrain (X tons), together achieving a 33% share of total imports. Oman (X tons) held a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the soya sauce imports, with a CAGR of +3.9% from 2012 to 2022. At the same time, Oman (+3.9%), Bahrain (+3.4%), Kuwait (+2.2%) and Qatar (+2.1%) displayed positive paces of growth. The United Arab Emirates (+30 p.p.), Qatar (+5.4 p.p.), Kuwait (+5.4 p.p.), Bahrain (+2.4 p.p.) and Oman (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported soya sauce in GCC, comprising 56% of total imports. The second position in the ranking was taken by Qatar ($X), with a 17% share of total imports. It was followed by Kuwait, with a 15% share.

In the United Arab Emirates, soya sauce imports increased at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (+5.5% per year) and Kuwait (+6.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2013 an increase of 11%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform