Soya Sauce Market in the United States
Market Overview
The U.S. soya sauce market was finally on the rise to reach $
in , after two years of decline. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market reached the peak level at $ in 2019; however, from to , consumption failed to regain momentum.
In value terms, soya sauce production dropped slightly to $ in . Over the period under review, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2009 when the production volume increased by %. Soya sauce production peaked at $ in 2019; however, from to , production remained at a lower figure.
in , after two years of decline. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market reached the peak level at $ in 2019; however, from to , consumption failed to regain momentum.In value terms, soya sauce production dropped slightly to $
in . Over the period under review, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2009 when the production volume increased by %. Soya sauce production peaked at $ in 2019; however, from to , production remained at a lower figure.Consumption
In , consumption of soya sauce was finally on the rise to reach tons after two years of decline. Overall, consumption showed a buoyant increase. Soya sauce consumption peaked at tons in 2019; however, from to , consumption remained at a lower figure.
The size of the soya sauce market in the United States expanded notably to $ in , surging 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). Over the period under review, consumption posted prominent growth. Soya sauce consumption peaked at $ in 2019; however, from to , consumption remained at a lower figure.
, consumption of soya sauce was finally on the rise to reach tons after two years of decline. Overall, consumption showed a buoyant increase. Soya sauce consumption peaked at tons in 2019; however, from to , consumption remained at a lower figure.The size of the soya sauce market in the United States expanded notably to $
in , surging 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). Over the period under review, consumption posted prominent growth. Soya sauce consumption peaked at $ in 2019; however, from to , consumption remained at a lower figure.Market Forecast
Driven by increasing demand for soya sauce in the United States, the market is expected to continue an upward consumption trend over the next eight years. 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 the United States consists almost entirely of imported products.
Trade Balance
The United States 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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