Soya sauce market in South Korea

Earlier Report Observations

The South Korean soya sauce market showed signs of recovery in 2018 after a multi-year decline, but faced a drop in production value in 2019. This was influenced by new administrative guidelines for front-of-pack mixing ratio labeling, which spread negative consumer perception and hurt sales of blended soya sauce. The COVID-19 pandemic in 2020 dramatically reversed this trend, as stay-at-home measures and a home cooking boom revitalized demand, leading to a simultaneous increase in both market volume and value.

From 2021, the market restructured toward traditionally fermented soya sauce, driven by consumer preference for healthier and premium options. Major players like Daesang and Sempio launched new fermented sauce lines, while Obok Food converted its key Wangpyo brand entirely to fermented sauce. In 2022, the industry focused on product diversification and began introducing eco-friendly packaging aimed at reducing plastic use, further supporting market value growth alongside continued premiumization.

By 2023, the market volume saw a slight contraction to 190.2 thousand tons, while the market value continued to rise, reaching 229.3 million $, reflecting the ongoing consumer shift toward higher-value fermented varieties.

Production soya sauce in South Korea

In kind, 2017-2020, K t

South Korea ranked third globally in soya sauce production from 2017 to 2020.

Top producers of soya sauce, 2017-2020

World map of production of soya sauce, 2017-2020

South Korea's soya sauce production grew for the second year in a row. In 2020, the country produced 196.5 thousand tons, up 4.2% from 2019. Over the 2017-2020 period, production rose by 8.8%, with an average annual growth rate of 2.9%. The lowest output was in 2018 at 179.2 thousand tons, which saw a slight decline of 0.8%. The biggest increase occurred in 2019, with a 5.2% jump.

Annual dynamics of production in South Korea in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, South Korea's soya sauce output was valued at 206.2 million US dollars, a solid 10.5% increase from 2019. From 2017 to 2020, production value grew by 12%, averaging 3.8% per year. The only decline was in 2019, when it dropped by 1.4%.

Annual dynamics of production in South Korea in value, 2017-2020, M $ US

Exports soya sauce from South Korea

Exports in kind, t

South Korea's soya sauce exports in 2020 reached 15 314 tons, showing little change from the previous year. Over the 2017-2020 period, exports increased by 11.8%, with an average annual growth of 3.8%. The lowest volume was in 2018 at 13 655 tons, while the peak was in 2019 at 15 377 tons, which saw the largest increase of 12.6%.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, t

From 2017 to 2020, South Korea's soya sauce exports were highly diversified by country. The top three markets—the United States at 20.8%, Russia at 18.7%, and China at 10.0%—together accounted for 49.5% of total export volumes. The remaining 50.5% came from a wide range of smaller markets.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, K $ US

South Korea's soya sauce export value grew for the third consecutive year. In 2020, exports totaled 16 074 thousand US dollars, a moderate 5.6% increase from 2019. Over the 2017-2020 period, export value rose by 15.1%, with an average annual growth rate of 4.8%.

Annual dynamics of product's exports from South Korea in value, 2017-2020, K $ US

Between 2017 and 2020, South Korea's soya sauce export value was spread across many countries. The United States at 20.3%, Russia at 16.4%, and China at 9.6% combined for 46.4% of total value, with no single partner dominating the market.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South Korea in value, 2017-2020

Imports soya sauce to South Korea

Imports in kind, t

South Korea's soya sauce import volume increased for the third year in a row. In 2020, imports amounted to 10 289 tons, a gradual 3.2% rise from the previous year. From 2017 to 2020, import volume grew by 31.9%, averaging 9.7% per year.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, t

From 2017 to 2020, China, Japan, and Asia, not elsewhere specified, were the leading sources of soya sauce imports to South Korea. China accounted for 33.0%, Japan for 27.5%, and Asia, not elsewhere specified, for 25.6%, together making up 86.1% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, K $ US

South Korea's soya sauce import value rose for the third consecutive year. In 2020, imports totaled 14 889 thousand US dollars, a 2.8% increase from 2019. Between 2017 and 2020, import value surged by 41.5%, equivalent to an average annual growth of 12.3%.

Annual dynamics of product's imports to South Korea in value, 2017-2020, K $ US

Over the 2017-2020 period, Japan, China, and Asia, not elsewhere specified, were the top suppliers of soya sauce to South Korea by value. Japan led with 36.8%, followed by China at 30.6%, and Asia, not elsewhere specified, at 13.3%, combining for 80.7% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020