SADC: Soups Market 2024

Soups Market Size in SADC

The SADC soups market fell to $X in 2021, approximately mirroring the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +8.2% against 2019 indices. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Soups Production in SADC

In value terms, soups production declined to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +3.3% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 32% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Soups Exports

Exports in SADC

Soups exports reduced modestly to X tons in 2021, which is down by -3.9% against 2020 figures. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, soups exports rose significantly to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 36%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of soups and broths, namely South Africa, represented more than two-thirds of total export.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of soups and broths. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest soups supplier in SADC.

In South Africa, soups exports increased at an average annual rate of +1.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, picking up by 14% against the previous year. In general, the export price showed slight growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +1.0% per year.

Soups Imports

Imports in SADC

In 2021, soups imports in SADC soared to X tons, with an increase of 19% against 2020. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 82% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, soups imports skyrocketed to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.1% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 52%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Mozambique (X tons), distantly followed by Democratic Republic of the Congo (X tons), Madagascar (X tons), Angola (X tons) and Namibia (X tons) were the main importers of soups and broths, together creating 86% of total imports. Botswana (X tons) and Swaziland (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Madagascar (with a CAGR of +26.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soups importing markets in SADC were Mozambique ($X), Democratic Republic of the Congo ($X) and Angola ($X), together comprising 71% of total imports. These countries were followed by Madagascar, Botswana, Namibia and Swaziland, which together accounted for a further 23%.

Madagascar, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 SADC stood at $X per ton in 2021, picking up by 7.7% against the previous year. Over the period under review, the import price, however, showed a slight decline. The most prominent rate of growth was recorded in 2013 an increase of 10% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Botswana ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Swaziland (+6.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform