MERCOSUR: Soya Sauce Market 2025

Soya Sauce Market Size in MERCOSUR

The MERCOSUR soya sauce market reached $X in 2022, increasing by 4% against the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.6% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Soya Sauce Production in MERCOSUR

In value terms, soya sauce production expanded markedly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.5% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 35%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Soya Sauce Exports

Exports in MERCOSUR

For the eleventh consecutive year, MERCOSUR recorded growth in overseas shipments of soya sauce, which increased by 1.1% to X tons in 2022. In general, exports showed strong growth. The growth pace was the most rapid in 2017 when exports increased by 21% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, soya sauce exports shrank modestly to $X in 2022. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Peru (X tons) and Brazil (X tons) prevails in exports structure, together mixing up 94% of total exports. Ecuador (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Peru (with a CAGR of +12.0%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Brazil ($X) and Ecuador ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 98% of total exports.

In terms of the main exporting countries, Peru, with a CAGR of +11.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, waning by -3.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 7.6%. The level of export peaked at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.3%), while the other leaders experienced a decline in the export price figures.

Soya Sauce Imports

Imports in MERCOSUR

Soya sauce imports shrank dramatically to X tons in 2022, with a decrease of -17.8% compared with the previous year. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, soya sauce imports shrank remarkably to $X in 2022. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

Chile represented the key importing country with an import of around X tons, which recorded 43% of total imports. It was distantly followed by Peru (X tons), Brazil (X tons) and Colombia (X tons), together generating a 43% share of total imports. The following importers - Argentina (X tons), Uruguay (X tons) and Ecuador (X tons) - together made up 8.9% of total imports.

Imports into Chile increased at an average annual rate of +9.0% from 2012 to 2022. At the same time, Brazil (+16.7%), Colombia (+10.8%), Uruguay (+9.6%), Ecuador (+8.3%) and Peru (+3.5%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +16.7% from 2012-2022. By contrast, Argentina (-2.5%) illustrated a downward trend over the same period. Brazil (+7.9 p.p.), Chile (+7.4 p.p.) and Colombia (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Argentina and Peru saw its share reduced by -6.2% and -7.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported soya sauce in MERCOSUR, comprising 44% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports. It was followed by Peru, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile amounted to +8.5%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+20.2% per year) and Peru (+4.3% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, picking up by 2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

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 Uruguay ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform