Hong Kong SAR, China - Soya Sauce - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSoya Sauce Price in Hong Kong SAR - 2023
Contents:
- Soya Sauce Price in Hong Kong SAR (FOB) - 2023
- Soya Sauce Price in Hong Kong SAR (CIF) - 2023
- Soya Sauce Exports in Hong Kong SAR
- Soya Sauce Imports in Hong Kong SAR
Soya Sauce Price in Hong Kong SAR (FOB) - 2023
In June 2023, the average soya sauce export price amounted to $1,572 per ton, dropping by -2.1% against the previous month. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in September 2022 when the average export price increased by 8.9% against the previous month. Over the period under review, the average export prices hit record highs at $1,718 per ton in January 2023; however, from February 2023 to June 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Macao SAR ($2,338 per ton), while the average price for exports to Taiwan (Chinese) ($1,062 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.
Soya Sauce Price in Hong Kong SAR (CIF) - 2023
The average soya sauce import price stood at $1,491 per ton in June 2023, rising by 8.5% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +1.3%. The most prominent rate of growth was recorded in September 2022 when the average import price increased by 19% m-o-m. As a result, import price attained the peak level of $1,518 per ton; afterwards, it flattened through to June 2023.
There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Indonesia ($3,076 per ton), while the price for China ($1,342 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Soya Sauce Exports in Hong Kong SAR
In 2022, approx. 20K tons of soya sauce were exported from Hong Kong SAR; dropping by -6.1% against the previous year's figure. Over the period under review, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 10% against the previous year.
In value terms, soya sauce exports dropped to $32M in 2022. Overall, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 13%. As a result, the exports attained the peak of $34M, and then shrank in the following year.
| Export of Soya Sauce in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 20.3 | 17.2 | 20.6 | 19.4 | -1.5% |
| Australia | 1.0 | 1.3 | 1.1 | 1.4 | 11.9% |
| United Kingdom | 1.9 | 2.0 | 2.4 | 1.4 | -9.7% |
| Macao SAR | 2.1 | 1.6 | 1.5 | 1.3 | -14.8% |
| South Korea | 1.4 | 1.1 | 1.3 | 1.2 | -5.0% |
| Turkey | 0.6 | 0.6 | 0.8 | 0.9 | 14.5% |
| Canada | 0.7 | 0.7 | 0.7 | 0.8 | 4.6% |
| China | 1.1 | 1.3 | 0.9 | 0.7 | -14.0% |
| Taiwan (Chinese) | 0.4 | 0.4 | 0.3 | 0.5 | 7.7% |
| Trinidad and Tobago | 0.5 | 0.3 | 0.5 | 0.5 | 0.0% |
| Others | 3.2 | 3.1 | 3.4 | 3.6 | 4.0% |
| Total | 33.2 | 29.6 | 33.5 | 31.5 | -1.7% |
Top Export Markets for Soya Sauce from Hong Kong SAR in 2022:
- United States (11.4K tons)
- United Kingdom (1.1K tons)
- Australia (0.9K tons)
- South Korea (0.9K tons)
- Turkey (0.8K tons)
- Macao SAR (0.7K tons)
- Taiwan (Chinese) (0.5K tons)
- China (0.4K tons)
- Canada (0.4K tons)
- Trinidad and Tobago (0.3K tons)
Soya Sauce Imports in Hong Kong SAR
In 2022, approx. 18K tons of soya sauce were imported into Hong Kong SAR; which is down by -2.2% against the previous year. In general, imports recorded a abrupt curtailment.
In value terms, soya sauce imports shrank slightly to $25M in 2022. Overall, imports showed a deep slump.
| Import of Soya Sauce in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 19.4 | 20.6 | 17.1 | 16.9 | -4.5% |
| Japan | 4.8 | 4.5 | 4.6 | 4.1 | -5.1% |
| Singapore | 1.5 | 1.1 | 1.3 | 1.3 | -4.7% |
| Taiwan (Chinese) | 1.0 | 1.0 | 0.9 | 0.8 | -7.2% |
| Indonesia | 1.1 | 0.5 | 0.6 | 0.6 | -18.3% |
| Others | 1.3 | 0.6 | 0.6 | 0.9 | -11.5% |
| Total | 29.2 | 28.2 | 25.0 | 24.6 | -5.6% |
Top Suppliers of Soya Sauce to Hong Kong SAR in 2022:
- China (14.0K tons)
- Japan (1.8K tons)
- Taiwan (Chinese) (0.5K tons)
- Singapore (0.5K tons)
- Indonesia (0.3K tons)
This report provides an in-depth analysis of the soya sauce market in Hong Kong SAR, China. 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:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- 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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