Turkey - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoya Sauce Price in Turkey - 2023
Contents:
- Soya Sauce Price in Turkey (CIF) - 2023
- Soya Sauce Price in Turkey (FOB) - 2022
- Soya Sauce Imports in Turkey
- Soya Sauce Exports in Turkey
Soya Sauce Price in Turkey (CIF) - 2023
In July 2023, the average soya sauce import price amounted to $1,334 per ton, dropping by -36.3% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in June 2023 an increase of 42% m-o-m. As a result, import price attained the peak level of $2,096 per ton, and then fell significantly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Thailand ($2,072 per ton), while the price for China ($1,150 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Soya Sauce Price in Turkey (FOB) - 2022
In 2022, the average soya sauce export price amounted to $2,300 per ton, picking up by 8.5% against the previous year. Overall, the export price, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 26%. As a result, the export price reached the peak level of $4,022 per ton. From 2014 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($3,701 per ton), while the average price for exports to Iraq ($730 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 Jordan (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.
Soya Sauce Imports in Turkey
In 2022, approx. 2.6K tons of soya sauce were imported into Turkey; picking up by 53% on 2021. Overall, imports showed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, soya sauce imports surged to $3.6M in 2022. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 40%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
Import of Soya Sauce in Turkey (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 854 | 322 | 597 | 1,201 | 12.0% |
Hong Kong SAR | 930 | 688 | 900 | 1,171 | 8.0% |
Netherlands | 234 | 692 | 656 | 768 | 48.6% |
Japan | 56.3 | 118 | 349 | 259 | 66.3% |
Thailand | 0.7 | N/A | 5.4 | 111 | 441.3% |
Others | 55.0 | 36.5 | 83.3 | 59.9 | 2.9% |
Total | 2,130 | 1,857 | 2,591 | 3,569 | 18.8% |
Top Suppliers of Soya Sauce to Turkey in 2022:
- China (986.9 tons)
- Hong Kong SAR (810.2 tons)
- Netherlands (581.5 tons)
- Japan (150.9 tons)
- Thailand (49.1 tons)
Soya Sauce Exports in Turkey
For the fourth year in a row, Turkey recorded growth in overseas shipments of soya sauce, which increased by 56% to 131 tons in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 123% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, soya sauce exports soared to $302K in 2022. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 121% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
Export of Soya Sauce in Turkey (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Cyprus | 32.1 | 35.3 | 51.5 | 62.6 | 24.9% |
Kazakhstan | N/A | N/A | N/A | 56.7 | 0% |
Georgia | 0.2 | 0.1 | 2.4 | 17.0 | 339.7% |
Serbia | 0.8 | 1.5 | 6.5 | 10.9 | 138.8% |
Syrian Arab Republic | 5.5 | 8.4 | 9.3 | 9.9 | 21.6% |
Sweden | N/A | 1.0 | 2.7 | 9.0 | 200.0% |
Marshall Islands | 0.5 | 5.9 | 9.4 | 9.0 | 162.1% |
Malta | 0.1 | 4.7 | 7.9 | 8.7 | 343.1% |
Liberia | N/A | 4.9 | 6.1 | 8.5 | 31.7% |
Iraq | 7.8 | 10.7 | 6.4 | 7.6 | -0.9% |
Azerbaijan | N/A | 5.9 | 2.4 | 7.1 | 9.7% |
Jordan | N/A | N/A | N/A | 7.0 | 0% |
Israel | N/A | 6.7 | 7.5 | 5.7 | -7.8% |
Others | 11.1 | 43.1 | 66.9 | 82.8 | 95.4% |
Total | 58.0 | 128 | 179 | 302 | 73.3% |
Top Export Markets for Soya Sauce from Turkey in 2022:
- Cyprus (32.9 tons)
- Kazakhstan (15.3 tons)
- Iraq (10.4 tons)
- Georgia (9.3 tons)
- Serbia (4.9 tons)
- Sweden (4.5 tons)
- Syrian Arab Republic (3.8 tons)
- Marshall Islands (3.6 tons)
- Liberia (3.4 tons)
- Malta (3.3 tons)
- Azerbaijan (3.2 tons)
- Israel (2.8 tons)
- Jordan (2.4 tons)
This report provides an in-depth analysis of the soya sauce market in Turkey. 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:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- 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
-
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
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During the period of August 2023 to September 2023, the import growth did not pick up steam. However, the value of Soya Sauce imports experienced a significant surge, reaching $318K in September 2023.
In January 2023, the price of tomato ketchup was $1,517 per ton (FOB Turkey) – a 9% increase from the previous month.
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During the period of August 2023 to September 2023, the import growth did not pick up steam. However, the value of Soya Sauce imports experienced a significant surge, reaching $318K in September 2023.
In January 2023, the price of tomato ketchup was $1,517 per ton (FOB Turkey) – a 9% increase from the previous month.
In value terms, sauces imports totaled $X in 2016. The total import value increased at an average annual rate of +X% over the period from 2007 to 2016; however, the trend pattern indicated some no...