Colombia: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Colombia

The Colombian market for mixed condiments, sauses and seasonings contracted modestly to $X in 2022, which is down by -3% against the previous year. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Colombia

In value terms, mixed condiment, sause and seasoning production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Colombia

In 2022, after two years of growth, there was significant decline in shipments abroad of mixed condiments, sauses and seasonings, when their volume decreased by -13.3% to X tons. Over the period under review, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2020 when exports increased by 50% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, mixed condiment, sause and seasoning exports dropped to $X in 2022. In general, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for mixed condiment, sause and seasoning exports from Colombia, accounting for a 49% share of total exports. Moreover, mixed condiment, sause and seasoning exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), sixfold. Belgium (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+0.3% per year) and Belgium (+12.4% per year).

In value terms, the United States ($X) remains the key foreign market for mixed condiments, sauses and seasonings exports from Colombia, comprising 47% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 9.3% share of total exports. It was followed by Belgium, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+2.9% per year) and Belgium (+24.8% per year).

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, flattening at the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Curacao ($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 Belgium (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Colombia

In 2022, approx. X tons of mixed condiments, sauses and seasonings were imported into Colombia; declining by -15.4% on 2021 figures. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, mixed condiment, sause and seasoning imports fell remarkably to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 46%. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest mixed condiment, sause and seasoning supplier to Colombia, accounting for a 58% share of total imports. Moreover, mixed condiment, sause and seasoning imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+8.1% per year) and Italy (+39.6% per year).

In value terms, the largest mixed condiment, sause and seasoning suppliers to Colombia were the United States ($X), Mexico ($X) and Italy ($X), together accounting for 83% of total imports. Spain, Thailand and Peru lagged somewhat behind, together accounting for a further 6.1%.

In terms of the main suppliers, Spain, with a CAGR of +43.9%, recorded the highest rates of growth with regard to 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, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2017 an increase of 14% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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 Mexico ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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