Asia-Pacific: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Asia-Pacific

In 2023, the Asia-Pacific market for mixed condiments, sauses and seasonings decreased by less than X% to $X, falling for the second year in a row after seven years of growth. The total consumption indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Asia-Pacific

In value terms, mixed condiment, sause and seasoning production totaled $X in 2023 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports in Asia-Pacific

Mixed condiment, sause and seasoning exports stood at X tons in 2023, remaining constant against 2022 figures. Total exports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning exports dropped modestly to $X in 2023. In general, exports posted a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2022, and then contracted in the following year.

Exports by Country

China (X tons) and Thailand (X tons) were the key exporters of mixed condiments, sauses and seasonings in 2023, recording near X% and X% of total exports, respectively. South Korea (X tons) ranks next in terms of the total exports with a X% share, followed by Japan (X%). Hong Kong SAR (X tons), Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), the Philippines (X tons), India (X tons), Australia (X tons) and New Zealand (X tons) held a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest mixed condiment, sause and seasoning supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports in Asia-Pacific

In 2023, overseas purchases of mixed condiments, sauses and seasonings decreased by X% to X tons for the first time since 2011, thus ending a eleven-year rising trend. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2022, and then reduced in the following year.

In value terms, mixed condiment, sause and seasoning imports shrank to $X in 2023. Total imports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then contracted slightly in the following year.

Imports by Country

The purchases of the twelve major importers of mixed condiments, sauses and seasonings, namely Hong Kong SAR, South Korea, Australia, Japan, the Philippines, Malaysia, China, Singapore, Thailand, Taiwan (Chinese), Indonesia and New Zealand, represented more than two-thirds of total import.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Australia ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. South Korea, the Philippines, China, Malaysia, Taiwan (Chinese), Singapore, New Zealand, Indonesia and Thailand lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Australia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform