Argentina: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Argentina

The Argentinian market for mixed condiments, sauses and seasonings shrank to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Argentina

In value terms, mixed condiment, sause and seasoning production dropped modestly to $X in 2022 estimated in export price. In general, production, however, saw a mild shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Argentina

In 2022, mixed condiment, sause and seasoning exports from Argentina rose slightly to X tons, with an increase of 1.9% against 2021. Overall, exports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2016 when exports increased by 6.1%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mixed condiment, sause and seasoning exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible slump. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons) was the main destination for mixed condiment, sause and seasoning exports from Argentina, with a 55% share of total exports. Moreover, mixed condiment, sause and seasoning exports to Paraguay exceeded the volume sent to the second major destination, Uruguay (X tons), twofold. Chile (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay amounted to +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-2.0% per year) and Chile (-11.7% per year).

In value terms, Paraguay ($X), Uruguay ($X) and Chile ($X) appeared to be the largest markets for mixed condiment, sause and seasoning exported from Argentina worldwide, with a combined 94% share of total exports.

Paraguay, with a CAGR of +4.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, growing by 35% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Argentina

In 2022, overseas purchases of mixed condiments, sauses and seasonings increased by 17% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning imports skyrocketed to $X in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +90.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of mixed condiment, sause and seasoning to Argentina, accounting for a 36% share of total imports. Moreover, mixed condiment, sause and seasoning imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Uruguay (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.4% per year) and Uruguay (-2.0% per year).

In value terms, Brazil ($X), Uruguay ($X) and the United States ($X) appeared to be the largest mixed condiment, sause and seasoning suppliers to Argentina, together accounting for 62% of total imports. China, Mexico, Taiwan (Chinese), Chile and South Korea lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, China, with a CAGR of +26.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for mixed condiments, sauses and seasonings amounted to $X per ton, growing by 7.1% against the previous year. Over the period under review, the import price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2017 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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