Sri Lanka: Soya Sauce Market 2025

Soya Sauce Market Size in Sri Lanka

The Sri Lankan soya sauce market expanded notably to $X in 2022, surging by 6.4% against the previous year. Overall, consumption posted resilient growth. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Soya Sauce Production in Sri Lanka

In value terms, soya sauce production totaled $X in 2022 estimated in export price. In general, production enjoyed a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 66% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Soya Sauce Exports

Exports from Sri Lanka

Soya sauce exports from Sri Lanka shrank sharply to X tons in 2022, falling by -55.8% on the year before. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 432%. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, soya sauce exports dropped markedly to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 285%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

Maldives (X tons), Seychelles (X tons) and South Korea (X tons) were the main destinations of soya sauce exports from Sri Lanka, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of +108.9%), while the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) emerged as the key foreign market for soya sauce exports from Sri Lanka, comprising 52% of total exports. The second position in the ranking was taken by South Korea ($X), with a 25% share of total exports. It was followed by Seychelles, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (0.0% per year) and Seychelles (+90.8% per year).

Export Prices by Country

The average soya sauce export price stood at $X per ton in 2022, declining by -33.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 44% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bangladesh ($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 the United Arab Emirates (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into Sri Lanka

In 2022, supplies from abroad of soya sauce decreased by -33% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports saw a slight shrinkage. The growth pace was the most rapid in 2018 when imports increased by 47% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, soya sauce imports reduced notably to $X in 2022. In general, imports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 141%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Japan (X tons) were the main suppliers of soya sauce imports to Sri Lanka, together comprising 78% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of soya sauce to Sri Lanka, comprising 56% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+25.2% per year) and China (+0.9% per year).

Import Prices by Country

In 2022, the average soya sauce import price amounted to $X per ton, with an increase of 6.9% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2018 an increase of 64% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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 (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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