Soya Sauce Market in Spain
Market Overview
In 
, the Spanish soya sauce market increased by % to $, rising for the tenth year in a row after two years of decline. Overall, consumption saw resilient growth. Over the period under review, the market reached the maximum level in and is likely to see gradual growth in the immediate term.
In value terms, soya sauce production shrank to $ in estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by %. As a result, production reached the peak level of $. From 2015 to , production growth failed to regain momentum.
, the Spanish soya sauce market increased by % to $, rising for the tenth year in a row after two years of decline. Overall, consumption saw resilient growth. Over the period under review, the market reached the maximum level in and is likely to see gradual growth in the immediate term.In value terms, soya sauce production shrank to $
in estimated in export price. Over the period under review, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by %. As a result, production reached the peak level of $. From 2015 to , production growth failed to regain momentum.Consumption
For the sixth consecutive year, Spain recorded growth in consumption of soya sauce, which increased by % to tons in . Over the period under review, consumption posted a buoyant increase. Over the period under review, consumption reached the peak volume in and is expected to retain growth in years to come.
The revenue of the soya sauce market in Spain soared to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a prominent expansion. Over the period under review, the market hit record highs in and is expected to retain growth in the near future.
% to tons in . Over the period under review, consumption posted a buoyant increase. Over the period under review, consumption reached the peak volume in and is expected to retain growth in years to come.The revenue of the soya sauce market in Spain soared to $
in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a prominent expansion. Over the period under review, the market hit record highs in and is expected to retain growth in the near future.Market Forecast
Driven by increasing demand for soya sauce in Spain, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Soya sauce market in Spain consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.Trade Balance
Spain remains a net importer of soya sauce; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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