South Africa - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoya Sauce Imports Surge in South Africa, Reaching $2.8M in 2023
South Africa Soya Sauce Imports
In 2023, overseas purchases of soya sauce increased by 1.6% to 2.1K tons, rising for the sixth consecutive year after two years of decline. Overall, total imports indicated a resilient increase from 2013 to 2023: 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 2023 figures, imports increased by +101.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 21% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.
In value terms, soya sauce imports expanded markedly to $2.8M (IndexBox estimates) in 2023. Over the period under review, total imports indicated moderate growth from 2013 to 2023: 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 2023 figures, imports increased by +84.2% against 2017 indices. The growth pace was the most rapid in 2019 when imports increased by 22%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.
| COUNTRY | Import Value of Soya Sauce in South Africa (thousand USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Singapore | 995 | 979 | 757 | 1,030 | 806 | 894 | 1,026 | 1,053 | 1,150 | 1,047 | 1,010 |
| Netherlands | 12.4 | 5.3 | 14.5 | 2.1 | 1.4 | 13.5 | 22.0 | 14.5 | 7.0 | 95.3 | 548 |
| China | 145 | 198 | 206 | 135 | 159 | 254 | 306 | 383 | 539 | 602 | 482 |
| Taiwan (Chinese) | 79.4 | 58.4 | 67.0 | 86.3 | 63.0 | 165 | 293 | 239 | 301 | 308 | 348 |
| Thailand | 84.2 | 129 | 116 | 134 | 120 | 120 | 161 | 148 | 174 | 220 | 199 |
| Japan | 203 | 254 | 278 | 165 | 133 | 137 | 147 | 80.5 | 144 | 159 | 81.6 |
| United States | 105 | 103 | 106 | 111 | 84.7 | 80.0 | 186 | 300 | 172 | 173 | 62.8 |
| Hong Kong | 174 | 171 | 103 | 163 | 146 | 119 | 53.2 | 52.5 | 54.4 | 27.9 | 21.5 |
| Others | 21.1 | 24.4 | 17.9 | 26.9 | 15.9 | 25.4 | 16.5 | 25.0 | 48.2 | 34.0 | 63.4 |
| Total | 1,819 | 1,922 | 1,666 | 1,853 | 1,528 | 1,807 | 2,210 | 2,295 | 2,589 | 2,664 | 2,816 |
Imports by Country
China (947 tons), Taiwan (Chinese) (498 tons) and Singapore (314 tons) were the main suppliers of soya sauce imports to South Africa, together comprising 84% of total imports. the Netherlands, Thailand, Japan, the United States and Hong Kong lagged somewhat behind, together comprising a further 14%.
From 2013 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest soya sauce suppliers to South Africa were Singapore ($1M), the Netherlands ($548K) and China ($482K), together comprising 72% of total imports.
Among the main suppliers, the Netherlands, with a CAGR of +46.1%, 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 2023, the soya sauce price amounted to $1,339 per ton (CIF, South Africa), with an increase of 4% against the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2016 an increase of 13% against the previous year. The import price peaked at $1,669 per ton in 2013; however, from 2014 to 2023, 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 the United States ($8,116 per ton), while the price for China ($509 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the soya sauce market in South Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10841210 - Soya sauce
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
