South-Eastern Asia: Soya Sauce Market 2025

Soya Sauce Market Size in South-Eastern Asia

In 2022, the Southeast Asian soya sauce market increased by 0.9% to $X, rising for the sixth year in a row after two years of decline. In general, consumption saw resilient growth. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Soya Sauce Production in South-Eastern Asia

In value terms, soya sauce production rose to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 -4.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 21%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Soya Sauce Exports

Exports in South-Eastern Asia

Soya sauce exports totaled X tons in 2022, flattening at 2021 figures. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.8% against 2013 indices. The most prominent rate of growth was recorded in 2019 with an increase of 20% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, soya sauce exports reached $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.7% against 2012 indices. The growth pace was the most rapid in 2019 with an increase of 17%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Thailand (X tons) and Singapore (X tons) were the key exporters of soya sauce in 2022, amounting to near 29% and 24% of total exports, respectively. It was distantly followed by Indonesia (X tons), Malaysia (X tons), the Philippines (X tons) and Vietnam (X tons), together mixing up a 47% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +7.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest soya sauce supplying countries in South-Eastern Asia were Singapore ($X), Thailand ($X) and Indonesia ($X), with a combined 74% share of total exports. Malaysia, the Philippines and Vietnam lagged somewhat behind, together accounting for a further 26%.

The Philippines, with a CAGR of +9.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, approximately reflecting the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 8.8% against the previous year. The level of export peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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 Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.9%), while the other leaders experienced more modest paces of growth.

Soya Sauce Imports

Imports in South-Eastern Asia

In 2022, the amount of soya sauce imported in South-Eastern Asia rose to X tons, with an increase of 2.2% against 2021 figures. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 13%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, soya sauce imports rose modestly to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.2% against 2013 indices. The pace of growth was the most pronounced in 2018 with an increase of 17% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Indonesia (X tons), Singapore (X tons), the Philippines (X tons), Thailand (X tons), Malaysia (X tons), Lao People's Democratic Republic (X tons) and Vietnam (X tons) represented the key importer of soya sauce in South-Eastern Asia, creating 92% of total import.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +8.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soya sauce importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Singapore ($X), together comprising 54% of total imports. The Philippines, Malaysia, Vietnam and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 38%.

Vietnam, with a CAGR of +11.0%, saw the highest growth rate of the value of imports, among 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 South-Eastern Asia stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 4.6%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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