Soya sauce market in Southern Asia

Earlier Report Observations

The soya sauce market in Southern Asia began the period at 2,139 t in 2018, supported by growing exposure to Asian cuisine and the entry of new brands offering both imported and locally produced options. Consumer preferences also evolved toward premium and everyday products, with innovations in packaging enhancing convenience. However, the market volume declined to 1,840 t in 2019, even as competition increased and health-oriented trends like non-GMO demand gained traction. The COVID-19 pandemic in 2020 further reduced the market to 1,562 t, accelerating demand for convenient home-use products but likely offset by disruptions in the restaurant and foodservice segments.

A sharp recovery followed in 2021, with market volume jumping 34% to 2,094 t. This turnaround was driven by regulatory changes affecting labeling and food safety, which prompted industry adjustments, alongside the entry of new players and expansion of production facilities. Growing consumer preference for health-benefiting products, such as traditionally brewed sauces without chemical additives, also stimulated demand.

From 2022 onward, the market contracted again, falling to 1,967 t in 2022 and to 1,550 t in 2023. This decline coincided with external factors like fluctuations in international soybean prices, which raised production costs and likely dampened volume. Meanwhile, investments in omni-channel distribution and the launch of new product segments, including regionally tailored flavor profiles, continued to shape the market structure without reversing the overall downward trend.

Production soya sauce in Southern Asia

In kind, 2017-2020, t

Top producers of soya sauce, 2017-2020

World map of production of soya sauce, 2017-2020

Soy sauce production in Southern Asia has declined for the second year in a row. In 2020, the region produced 321.8 t of soy sauce, which represents a 4.2% decrease compared to 2019. Looking at the period from 2017 to 2020, production fell by 2.4%, translating to an average annual decline of 0.8%. The highest production level was recorded in 2018 at 352.2 t, with the largest increase of 6.8% occurring that year. In contrast, the most significant drop was in 2019, when production decreased by 4.6%.

Annual dynamics of production in Southern Asia in kind, 2017-2020, t

Exports soya sauce from Southern Asia

Exports in kind, t

The market showed an unstable trend over the observed period. In 2019, foreign soy sauce supplies from Southern Asia reached their lowest point at 36 t, with the largest decline of 47.5% recorded that year. By 2020, exports surged to 221 t, marking a substantial 507.1% increase from the previous year and representing the highest volume. The difference between the peak in 2020 and the trough in 2019 was 6.1 times.

Annual dynamics of product's exports from Southern Asia in kind, 2017-2020, t

From 2017 to 2020, the structure of exports in kind indicates a diversified set of trading partners. The United Kingdom accounted for 19.8% of exports in kind, the United Arab Emirates for 17.8%, and Australia for 9.7%. Together, these three countries made up only 47.2% of total flows, while the remaining 52.8% was distributed among numerous smaller markets.

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

World map of product's exports from Southern Asia in kind, 2017-2020

Exports in value, K $ US

Market performance exhibited noticeable fluctuations during this period. In 2019, exports in value terms hit their lowest point at 58 K $ US, with the largest decline of 48.6% occurring that year. By 2020, cross-border shipments of soy sauce from Southern Asia peaked at 269 K $ US, showing a sharp year-over-year increase of 363.3%. The difference between the peak in 2020 and the trough in 2019 was a factor of 4.6.

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

Between 2017 and 2020, the partner landscape for exports in value terms was broad. The United Kingdom contributed 21.5% of exports in value terms, the United Arab Emirates 12.9%, and Australia 10.7%. Collectively, these three partners accounted for only 45.2% of total flows, with a substantial 54.8% going to or from many other countries.

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

World map of product's exports from Southern Asia in value, 2017-2020

Imports soya sauce to Southern Asia

Imports in kind, t

Imported soy sauce volumes in Southern Asia have declined for the third consecutive year. In 2020, imports totaled 1 462 t, reflecting a 5.1% reduction compared to the previous year. Over the period from 2017 to 2020, imports decreased by 24.9%, which corresponds to a compound annual growth rate (CAGR) of -9.1%.

Annual dynamics of product's imports to Southern Asia in kind, 2017-2020, t

From 2017 to 2020, the partner portfolio for imports in kind of soy sauce to Southern Asia was quite broad. Singapore accounted for 14.2% of imports in kind, the United States for 9.8%, and China for 8.3%. Together, these three countries represented only 32.4% of total flows.

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

World map of product's imports to Southern Asia in kind, 2017-2020

Imports in value, K $ US

Soy sauce shipments to Southern Asia from abroad have declined for the second consecutive year. In 2020, imports amounted to 2 759 K $ US, which is 7.3% less than the year before. Over the period from 2017 to 2020, imports decreased by 19.8%, with a compound annual growth rate (CAGR) of -7.1%. The highest value was recorded in 2018 at 3 638 K $ US, with the largest increase of 5.7% that year. In contrast, the most significant drop was in 2019, when imports fell by 18.2%.

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

Throughout 2017 to 2020, Singapore accounted for 21.5% of imports in value terms, South Africa for 15.1%, and the United States for 14.9%. These three countries formed the core of imports in value terms, together taking 51.5% of total flows.

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

World map of product's imports to Southern Asia in value, 2017-2020