Soya sauce market in the Philippines

Earlier Report Observations

In 2018, the Philippine soya sauce market reached 82 531 t, a level supported by the enactment of Republic Act No. 10611, which strengthened the food safety regulatory system and facilitated market access for local products. Concurrently, growing consumer demand for quick-cook food and increased food service consumption bolstered overall usage. However, volume fell by 21% to 65 287 t in 2019 as health concerns related to high sodium content began to influence consumer behavior and likely reduced consumption.

Market volume stabilized in 2020 at 65 380 t, showing negligible change. A further contraction followed in 2021, with consumption declining by 9% to 59 617 t, indicating sustained pressure on the market during this period.

A recovery occurred in 2022 as volume grew by 6% to 63 356 t. This increase was driven by product diversification, including the expansion of light, dark, tamari, and low-sodium soy sauce segments, which catered to varied tastes and attracted broader consumer interest. Strong traditional preference for soya sauce as a household staple continued to underpin steady demand. The market then adjusted downward in 2023, with volume falling 17% to 52 597 t.

Production soya sauce in the Philippines

In kind, 2017-2020, t

From 2017 to 2020, the Philippines was one of the world's leading producers of soy sauce, ranking fifth globally by production volume.

Top producers of soya sauce, 2017-2020

World map of production of soya sauce, 2017-2020

After two years of decline, soy sauce production in the Philippines rebounded. In 2020, the country produced 69 761 tonnes of soy sauce, marking a moderate increase of 7.2% compared to the previous year. Over the 2017-2020 period, production decreased by 17.1%, with a compound annual growth rate of -6.1%. The lowest production volume was recorded in 2019 at 65 069 tonnes, which also saw the largest decline of 17.8%.

Annual dynamics of production in the Philippines in kind, 2017-2020, t

Exports soya sauce from the Philippines

Exports in kind, t

The export market showed an unstable trend during this period. Exports reached their lowest point in 2018 at 3 105 tonnes, with the largest decline of 40.5% that year. In 2019, exports surged by 121.9%, and by 2020, the Philippines exported 8 890 tonnes of soy sauce, representing a 29.0% increase from the previous year. Overall, exports fluctuated 2.9 times between the low in 2018 and the peak in 2020.

Annual dynamics of product's exports from the Philippines in kind, 2017-2020, t

From 2017 to 2020, the United States, Canada, and the United Arab Emirates were the primary buyers of soy sauce from the Philippines. The United States accounted for 24.3% of exports in volume, Canada for 20.9%, and the United Arab Emirates for 9.8%. Together, these three countries represented 55.0% of the Philippines' total soy sauce exports by volume.

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

World map of product's exports from the Philippines in kind, 2017-2020

Exports in value, K $ US

The export market in value terms exhibited volatility throughout the timeframe. Exports hit their lowest point in 2018 at 3 624 thousand US dollars, with the largest decline of 20.2% that year. In 2019, exports increased by 72.8%, and by 2020, the Philippines exported soy sauce worth 8 042 thousand US dollars, a 28.4% rise compared to 2019. Overall, export values fluctuated 2.2 times between the low in 2018 and the high in 2020.

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

Over the 2017-2020 period, the United States, the United Arab Emirates, and Canada were the main markets for soy sauce exports from the Philippines in value terms. The United States accounted for 20.4% of export value, the United Arab Emirates for 19.2%, and Canada for 14.6%. Collectively, these three destinations represented 54.3% of total export flows by value.

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

World map of product's exports from the Philippines in value, 2017-2020

Imports soya sauce to the Philippines

Imports in kind, t

In 2020, the Philippines imported 4 509 tonnes of soy sauce, a decrease of 36.6% from 2019. The largest increase in imports occurred in 2019, rising by 10.4%. Over the 2017-2020 period, imports decreased by 45.3%, equating to an annualized decline of 18.2%.

Annual dynamics of product's imports to the Philippines in kind, 2017-2020, t

From 2017 to 2020, China, Singapore, and Japan were the principal sources of soy sauce imports to the Philippines by volume. China accounted for 24.0% of imports, Singapore for 22.3%, and Japan for 17.6%. Together, these three countries made up 63.9% of total import flows in volume.

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

World map of product's imports to the Philippines in kind, 2017-2020

Imports in value, K $ US

After two years of growth, soy sauce imports to the Philippines declined. The highest import value was recorded in 2019 at 8 656 thousand US dollars, with the largest increase of 16.3% in 2018. In 2020, import volume fell to 6 127 thousand US dollars, down by 29.2% from the previous year. Over the 2017-2020 period, imports decreased by 8.4%, equating to an annualized decline of 2.9%.

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

In 2017-2020, Singapore, China, and Japan formed the main group of sources for soy sauce imports to the Philippines in value terms. Singapore accounted for 35.9% of import value, China for 23.8%, and Japan for 15.5%. Combined, these three countries represented 75.3% of total import flows by value.

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

World map of product's imports to the Philippines in value, 2017-2020