Chile: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Chile

The Chilean sauce and seasoning market expanded slightly to $X in 2021, surging by 2.9% against the previous year. Over the period under review, consumption, however, showed a perceptible decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in Chile

In value terms, sauce and seasoning production rose slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 5.3% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Chile

In 2021, exports of sauces and seasonings from Chile surged to X tons, rising by 30% on 2020 figures. Overall, exports showed modest growth. Over the period under review, the exports reached the peak figure at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, sauce and seasoning exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Argentina (X tons), Peru (X tons) and Colombia (X tons) were the main destinations of sauce and seasoning exports from Chile, together accounting for 53% of total exports. These countries were followed by Brazil, Costa Rica, Ecuador, Bolivia, Uruguay, Paraguay, Venezuela and Guatemala, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of +56.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Argentina ($X) and Colombia ($X) constituted the largest markets for sauce and seasoning exported from Chile worldwide, together comprising 59% of total exports. These countries were followed by Brazil, Costa Rica, Bolivia, Ecuador, Uruguay, Paraguay, Venezuela and Guatemala, which together accounted for a further 31%.

Among the main countries of destination, Costa Rica, with a CAGR of +39.9%, recorded the highest rates of growth with regard to 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, with a decrease of -4.8% against the previous year. Overall, the export price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2018 an increase of 16%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Peru ($X per ton), while the average price for exports to Venezuela ($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 Guatemala (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Sauce And Seasoning Imports

Imports into Chile

In 2021, supplies from abroad of sauces and seasonings increased by 5.3% to X tons, rising for the sixth consecutive year after two years of decline. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 51% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, sauce and seasoning imports soared to $X in 2021. Over the period under review, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of sauce and seasoning to Chile, with a 54% share of total imports. Moreover, sauce and seasoning imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Peru (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.1% per year) and Peru (+32.1% per year).

In value terms, the United States ($X) constituted the largest supplier of sauces and seasonings to Chile, comprising 62% of total imports. The second position in the ranking was held by Peru ($X), with an 8.4% share of total imports. It was followed by Mexico, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+32.7% per year) and Mexico (+38.3% per year).

Import Prices by Country

In 2021, the average sauce and seasoning import price amounted to $X per ton, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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