China: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in China

The Chinese market for mixed condiments, sauses and seasonings amounted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2020 indices. Mixed condiment, sause and seasoning consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in China

In value terms, mixed condiment, sause and seasoning production reached $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from China

For the third year in a row, China recorded growth in shipments abroad of mixed condiments, sauses and seasonings, which increased by 7.3% to X tons in 2022. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, mixed condiment, sause and seasoning exports reached $X in 2022. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 35% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

South Korea (X tons), the United States (X tons) and the Philippines (X tons) were the main destinations of mixed condiment, sause and seasoning exports from China, with a combined 30% share of total exports. Thailand, Malaysia, Nigeria, Japan, Indonesia, Liberia, Australia, the Netherlands, Guinea and Vietnam lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +23.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed condiment, sause and seasoning exported from China were Thailand ($X), Malaysia ($X) and South Korea ($X), with a combined 32% share of total exports.

In terms of the main countries of destination, Thailand, with a CAGR of +39.6%, 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

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, surging by 3.7% against the previous year. Over the period under review, the export price posted a resilient increase. The pace of growth appeared the most rapid in 2019 an increase of 41% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Nigeria ($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 Malaysia (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into China

After ten years of growth, overseas purchases of mixed condiments, sauses and seasonings decreased by -10.7% to X tons in 2022. In general, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, mixed condiment, sause and seasoning imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 21% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

South Korea (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to China, with a combined 65% share of total imports. The United States, Vietnam, Malaysia, Germany, Italy, Australia and the Philippines lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +38.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Thailand ($X) and Japan ($X) were the largest mixed condiment, sause and seasoning suppliers to China, together accounting for 50% of total imports. The United States, Italy, Malaysia, Germany, Australia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 26%.

Vietnam, with a CAGR of +36.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, which is down by -1.8% against the previous year. Overall, the import price continues to indicate a slight slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 10%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :