Switzerland: Soya Sauce Market 2024

Soya Sauce Market Size in Switzerland

In 2022, after two years of growth, there was decline in the Swiss soya sauce market, when its value decreased by -2.8% to $X. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +30.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2021, and then contracted modestly in the following year.

Soya Sauce Exports

Exports from Switzerland

After two years of growth, overseas shipments of soya sauce decreased by -66% to X tons in 2022. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when exports increased by 271%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, soya sauce exports dropped dramatically to $X in 2022. In general, exports recorded a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 214% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tons), France (X tons) and Germany (X tons) were the main destinations of soya sauce exports from Switzerland, together comprising 81% 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 Hungary (with a CAGR of +40.7%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Austria ($X) and France ($X) were the largest markets for soya sauce exported from Switzerland worldwide, together accounting for 80% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +44.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soya sauce export price stood at $X per ton in 2022, jumping by 49% against the previous year. Over the period under review, the export price showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 171%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Turkey ($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 Netherlands (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into Switzerland

In 2022, purchases abroad of soya sauce increased by 5.2% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +68.6% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 14%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, soya sauce imports dropped slightly to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +64.4% against 2015 indices. The pace of growth appeared the most rapid in 2020 with an increase of 27%. Imports peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

The Netherlands (X tons), China (X tons) and Thailand (X tons) were the main suppliers of soya sauce imports to Switzerland, with a combined 75% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +9.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of soya sauce to Switzerland, comprising 43% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.0% per year) and Japan (+5.5% per year).

Import Prices by Country

The average soya sauce import price stood at $X per ton in 2022, shrinking by -9.4% against the previous year. Over the period under review, the import price showed a mild descent. The growth pace was the most rapid in 2020 when the average import price increased by 11%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($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 (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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