South Africa: Soups Market 2024

Soups Market Size in South Africa

In 2021, the South African soups market decreased by -1.7% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Soups consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Soups Production in South Africa

In value terms, soups production fell modestly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. Soups production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Soups Exports

Exports from South Africa

In 2021, the amount of soups and broths exported from South Africa declined to X tons, falling by -4.1% compared with 2020. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, soups exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 37%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mozambique (X tons) was the main destination for soups exports from South Africa, accounting for a 57% share of total exports. Moreover, soups exports to Mozambique exceeded the volume sent to the second major destination, Namibia (X tons), eightfold. Botswana (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to Mozambique stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (-8.0% per year) and Botswana (-3.9% per year).

In value terms, Mozambique ($X) remains the key foreign market for soups and broths exports from South Africa, comprising 57% of total exports. The second position in the ranking was taken by Botswana ($X), with an 8.3% share of total exports. It was followed by Namibia, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to Mozambique stood at +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+0.5% per year) and Namibia (-4.0% per year).

Export Prices by Country

The average soups export price stood at $X per ton in 2021, picking up by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Soups Imports

Imports into South Africa

Soups imports into South Africa declined notably to X tons in 2021, dropping by -17% on 2020. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 105% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, soups imports fell sharply to $X in 2021. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 13%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Italy (X tons) were the main suppliers of soups imports to South Africa, with a combined 67% share of total imports. Ghana, Nigeria, Germany, the UK and Canada lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +18.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soups suppliers to South Africa were Italy ($X), the United States ($X) and Germany ($X), with a combined 55% share of total imports.

The United States, with a CAGR of +22.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soups import price stood at $X per ton in 2021, reducing by -10.4% against the previous year. Overall, the import price saw a slight decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 124%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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