Australia and Oceania: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Australia and Oceania

The sauce and seasoning market in Australia and Oceania was estimated at $X in 2021, rising by 2.8% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Sauce And Seasoning Production in Australia and Oceania

In value terms, sauce and seasoning production expanded modestly to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.9% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Sauce And Seasoning Exports

Exports in Australia and Oceania

In 2021, the amount of sauces and seasonings exported in Australia and Oceania reached X tons, remaining stable against 2020. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 7.3% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, sauce and seasoning exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Australia (X tons) and New Zealand (X tons) represented the major exporter of sauces and seasonings in Australia and Oceania, committing 99% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Australia (with a CAGR of +3.1%).

In value terms, Australia ($X) and New Zealand ($X) were the countries with the highest levels of exports in 2021.

Among the main exporting countries, Australia, with a CAGR of +1.7%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, rising by 14% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+0.4%).

Sauce And Seasoning Imports

Imports in Australia and Oceania

Sauce and seasoning imports was estimated at X tons in 2021, remaining relatively unchanged against the year before. Overall, imports, however, showed a mild decline. The pace of growth appeared the most rapid in 2013 with an increase of 9.1%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, sauce and seasoning imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 12% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Australia represented the major importing country with an import of about X tons, which reached 70% of total imports. It was distantly followed by New Zealand (X tons), generating a 20% share of total imports. Papua New Guinea (X tons) and Fiji (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sauce and seasoning imports into Australia stood at -2.7%. At the same time, Papua New Guinea (+4.7%), Fiji (+4.1%) and New Zealand (+2.9%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +4.7% from 2012-2021. New Zealand (+6.7 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -8.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported sauces and seasonings in Australia and Oceania, comprising 74% of total imports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total imports. It was followed by Papua New Guinea, with a 2.3% share.

In Australia, sauce and seasoning imports expanded at an average annual rate of +4.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+4.1% per year) and Papua New Guinea (+0.3% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, growing by 5.7% against the previous year. Import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sauce and seasoning import price increased by +52.2% against 2014 indices. The most prominent rate of growth was recorded in 2018 an increase of 36% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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