Australia: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Australia

The Australian market for mixed condiments, sauses and seasonings was estimated at $X in 2022, surging by 6.2% against the previous year. Overall, consumption showed a relatively flat trend pattern. Mixed condiment, sause and seasoning consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Australia

In value terms, mixed condiment, sause and seasoning production rose to $X in 2022 estimated in export price. In general, production recorded a slight increase. The pace of growth appeared the most rapid in 2014 with an increase of 50% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Australia

In 2022, the amount of mixed condiments, sauses and seasonings exported from Australia rose remarkably to X tons, surging by 9.8% compared with 2021. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 12% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, mixed condiment, sause and seasoning exports totaled $X in 2022. The total export value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

New Zealand (X tons) was the main destination for mixed condiment, sause and seasoning exports from Australia, with a 51% share of total exports. Moreover, mixed condiment, sause and seasoning exports to New Zealand exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Papua New Guinea (X tons), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+2.2% per year) and Papua New Guinea (+5.1% per year).

In value terms, New Zealand ($X), Japan ($X) and the United States ($X) appeared to be the largest markets for mixed condiment, sause and seasoning exported from Australia worldwide, with a combined 70% share of total exports. Papua New Guinea, China, Thailand, Singapore, Hong Kong SAR, Malaysia and the Philippines lagged somewhat behind, together comprising a further 20%.

China, with a CAGR of +11.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, reducing by -6.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 13%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 the United States ($X per ton), while the average price for exports to New Zealand ($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 the Philippines (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Australia

In 2022, the amount of mixed condiments, sauses and seasonings imported into Australia expanded notably to X tons, with an increase of 10% against the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 26% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, mixed condiment, sause and seasoning imports expanded notably to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +61.5% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 11% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Thailand (X tons), the United States (X tons) and New Zealand (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Australia, together accounting for 43% of total imports. China, the UK, Italy, Japan, Hong Kong SAR, Malaysia, India, South Korea, South Africa and Germany lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning suppliers to Australia were Thailand ($X), the United States ($X) and New Zealand ($X), with a combined 42% share of total imports. China, Italy, the UK, Japan, Hong Kong SAR, Malaysia, India, South Korea, South Africa and Germany lagged somewhat behind, together comprising a further 44%.

Among the main suppliers, South Korea, with a CAGR of +13.9%, saw the highest growth rate of 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

The average import price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the import price posted prominent growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 56% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Africa ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :