New Zealand: Soya Sauce Market 2025

Soya Sauce Market Size in New Zealand

The New Zealand soya sauce market expanded to $X in 2022, with an increase of 2.9% 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). In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.6% against 2015 indices. Soya sauce consumption peaked in 2022 and is expected to retain growth in years to come.

Soya Sauce Exports

Exports from New Zealand

In 2022, approx. X tons of soya sauce were exported from New Zealand; jumping by 53% compared with the year before. In general, exports recorded resilient growth. The growth pace was the most rapid in 2018 when exports increased by 212%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, soya sauce exports skyrocketed to $X in 2022. Over the period under review, exports showed a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 131% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for soya sauce exports from New Zealand, with a 71% share of total exports. Moreover, soya sauce exports to Australia exceeded the volume sent to the second major destination, Cook Islands (X tons), fivefold. The third position in this ranking was held by Tonga (X tons), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to Australia totaled +22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+6.4% per year) and Tonga (-11.7% per year).

In value terms, Australia ($X) remains the key foreign market for soya sauce exports from New Zealand, comprising 66% of total exports. The second position in the ranking was held by Cook Islands ($X), with an 18% share of total exports. It was followed by Samoa, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia amounted to +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+9.9% per year) and Samoa (+52.2% per year).

Export Prices by Country

In 2022, the average soya sauce export price amounted to $X per ton, growing by 9.1% against the previous year. In general, export price indicated a perceptible 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 export price decreased by -18.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 43%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Samoa ($X per ton), while the average price for exports to Tonga ($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 Niue (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into New Zealand

In 2022, approx. X tons of soya sauce were imported into New Zealand; dropping by -9.7% compared with 2021 figures. In general, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 44%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, soya sauce imports expanded sharply to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 30%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest soya sauce supplier to New Zealand, with a 40% share of total imports. Moreover, soya sauce imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+1.8% per year) and Japan (+0.5% per year).

In value terms, the largest soya sauce suppliers to New Zealand were China ($X), Singapore ($X) and Japan ($X), together accounting for 60% of total imports. The United States, South Korea, Indonesia and Thailand lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, the United States, with a CAGR of +17.2%, recorded the highest growth rate of 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 average soya sauce import price stood at $X per ton in 2022, growing by 18% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 increased by +46.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 28%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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