Azerbaijan: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Azerbaijan

The Azerbaijani sauce and seasoning market expanded markedly to $X in 2021, with an increase of 15% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.9% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sauce And Seasoning Production in Azerbaijan

In value terms, sauce and seasoning production totaled $X in 2021 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 51% against the previous year. Sauce and seasoning production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports from Azerbaijan

In 2021, overseas shipments of sauces and seasonings were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 93% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, sauce and seasoning exports soared to $X in 2021. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 230% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Georgia (X tons) was the main destination for sauce and seasoning exports from Azerbaijan, accounting for a 57% share of total exports. Moreover, sauce and seasoning exports to Georgia exceeded the volume sent to the second major destination, Russia (X tons), twofold. The third position in this ranking was held by Israel (X tons), with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to Georgia amounted to +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-14.8% per year) and Israel (+9.2% per year).

In value terms, the largest markets for sauce and seasoning exported from Azerbaijan were Georgia ($X), Russia ($X) and Israel ($X), with a combined 80% share of total exports. These countries were followed by the United States, Iraq and Ukraine, which together accounted for a further 9.7%.

Iraq, with a CAGR of +76.8%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average sauce and seasoning export price amounted to $X per ton, waning by -3% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +8.0% 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 export price increased by +26.0% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 72%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Azerbaijan

In 2021, purchases abroad of sauces and seasonings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 19%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, sauce and seasoning imports surged to $X in 2021. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of 111%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of sauce and seasoning to Azerbaijan, with a 83% share of total imports. Moreover, sauce and seasoning imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The third position in this ranking was taken by Ukraine (X tons), with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+4.0% per year) and Ukraine (+5.7% per year).

In value terms, Russia ($X) constituted the largest supplier of sauces and seasonings to Azerbaijan, comprising 75% of total imports. The second position in the ranking was taken by Turkey ($X), with a 6.8% share of total imports. It was followed by Ukraine, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+14.6% per year) and Ukraine (+21.3% per year).

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2021, increasing by 8.7% against the previous year. Overall, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 81% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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