Bangladesh: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Bangladesh

The Bangladeshi sauce and seasoning market rose significantly to $X in 2021, growing by 5% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Sauce And Seasoning Production in Bangladesh

In value terms, sauce and seasoning production rose to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 39%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Sauce And Seasoning Exports

Exports from Bangladesh

Sauce and seasoning exports from Bangladesh reduced to X tons in 2021, dropping by -12.9% on the previous year's figure. In general, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 117% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, sauce and seasoning exports declined to $X in 2021. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 187%. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

India (X tons), Nepal (X tons) and Italy (X tons) were the main destinations of sauce and seasoning exports from Bangladesh, together comprising 26% of total exports. The United States, Saudi Arabia, Mauritius, Singapore, Madagascar, Australia, Cambodia, the UK, the Philippines and Malaysia lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +151.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sauce and seasoning exported from Bangladesh were India ($X), Nepal ($X) and Italy ($X), with a combined 37% share of total exports. Australia, the UK, the United States, Cambodia, Singapore, Mauritius, Saudi Arabia, Madagascar, the Philippines and Malaysia lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, Cambodia, with a CAGR of +96.6%, recorded the highest growth rate of the value of exports, 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, picking up by 2.5% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.3% 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 +36.6% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 64% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Philippines ($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 Australia (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Bangladesh

In 2021, supplies from 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. Overall, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 103% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, sauce and seasoning imports surged to $X in 2021. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2014 when imports increased by 120%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

India (X tons), China (X tons) and Singapore (X tons) were the main suppliers of sauce and seasoning imports to Bangladesh, with a combined 35% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +49.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning suppliers to Bangladesh were Singapore ($X), India ($X) and Thailand ($X), with a combined 41% share of total imports.

In terms of the main suppliers, India, with a CAGR of +45.1%, recorded 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

In 2021, the average sauce and seasoning import price amounted to $X per ton, with an increase of 6.2% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.3% 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 +89.1% against 2012 indices. The most prominent rate of growth was recorded in 2020 an increase of 19%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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