Ecuador: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Ecuador

The Ecuadorian market for mixed condiments, sauses and seasonings amounted to $X in 2022, with an increase of 2.2% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 -2.1% 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 Ecuador

In value terms, mixed condiment, sause and seasoning production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -2.8% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 23%. Mixed condiment, sause and seasoning production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Ecuador

In 2022, the amount of mixed condiments, sauses and seasonings exported from Ecuador stood at X tons, approximately equating the previous year's figure. Over the period under review, exports enjoyed buoyant growth. The growth pace was the most rapid in 2019 with an increase of 111%. The exports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, mixed condiment, sause and seasoning exports reduced slightly to $X in 2022. Overall, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 121% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined slightly in the following year.

Exports by Country

The United States (X tons), Spain (X tons) and Chile (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Ecuador, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +34.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Spain ($X) and Chile ($X) constituted the largest markets for mixed condiment, sause and seasoning exported from Ecuador worldwide, together accounting for 65% of total exports.

Chile, with a CAGR of +33.4%, saw the highest rates of growth with regard to the value of exports, among 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

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 when the average export price increased by 8.5% against the previous year. The export price peaked at $X per ton in 2021, and then contracted slightly in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Ecuador

Mixed condiment, sause and seasoning imports into Ecuador declined to X tons in 2022, waning by -12.1% against 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 32%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, mixed condiment, sause and seasoning imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 37% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

The United States (X tons) and China (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Ecuador.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +9.1%).

In value terms, the United States ($X) constituted the largest supplier of mixed condiments, sauses and seasonings to Ecuador, comprising 72% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +6.4%.

Import Prices by Country

In 2022, the average import price for mixed condiments, sauses and seasonings amounted to $X per ton, waning by -1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 17%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 the United States ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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