United Arab Emirates: Soya Sauce Market 2024

Soya Sauce Market Size in the United Arab Emirates

The soya sauce market in the United Arab Emirates dropped remarkably to $X in 2022, shrinking by -34.6% against the previous year. Over the period under review, consumption, however, posted a strong increase. As a result, consumption attained the peak level of $X, and then declined dramatically in the following year.

Soya Sauce Production in the United Arab Emirates

In value terms, soya sauce production shrank remarkably to $X in 2022 estimated in export price. Over the period under review, production faced a precipitous decline. Soya sauce production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Soya Sauce Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of soya sauce increased by 111% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports continue to indicate a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, soya sauce exports reduced rapidly to $X in 2022. Overall, exports showed strong growth. The growth pace was the most rapid in 2017 with an increase of 123% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tanzania (X tons) was the main destination for soya sauce exports from the United Arab Emirates, with a 71% share of total exports. Moreover, soya sauce exports to Tanzania exceeded the volume sent to the second major destination, Rwanda (X tons), eightfold. Burundi (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume to Tanzania amounted to +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+4.7% per year) and Burundi (+23.1% per year).

In value terms, Tanzania ($X), Rwanda ($X) and Sri Lanka ($X) appeared to be the largest markets for soya sauce exported from the United Arab Emirates worldwide, with a combined 50% share of total exports. India, France, Azerbaijan and Burundi lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, France, with a CAGR of +46.8%, recorded the highest rates of growth with regard to 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

In 2022, the average soya sauce export price amounted to $X per ton, dropping by -63.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Tanzania ($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 Oman (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Soya Sauce Imports

Imports into the United Arab Emirates

In 2022, overseas purchases of soya sauce decreased by -21.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a noticeable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. As a result, imports attained the peak of X tons, and then fell markedly in the following year.

In value terms, soya sauce imports declined significantly to $X in 2022. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 79% against the previous year. As a result, imports attained the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest soya sauce supplier to the United Arab Emirates, accounting for a 37% share of total imports. Moreover, soya sauce imports from China exceeded the figures recorded by the second-largest supplier, the Philippines (X tons), threefold. Singapore (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (-7.3% per year) and Singapore (-1.4% per year).

In value terms, China ($X), Singapore ($X) and the Philippines ($X) appeared to be the largest soya sauce suppliers to the United Arab Emirates, with a combined 47% share of total imports. Japan, India and the United States lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, India, with a CAGR of +21.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average soya sauce import price amounted to $X per ton, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2013 when the average import price increased by 31%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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