India: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in India

In 2022, the Indian market for mixed condiments, sauses and seasonings decreased by less than 0.1% to $X, falling for the second consecutive year after six years of growth. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 -0.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in India

In value terms, mixed condiment, sause and seasoning production totaled $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 +6.2% 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 -0.1% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from India

For the seventh consecutive year, India recorded growth in overseas shipments of mixed condiments, sauses and seasonings, which increased by 20% to X tons in 2022. In general, exports showed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning exports soared to $X in 2022. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 57%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons), the UK (X tons) and the United Arab Emirates (X tons) were the main destinations of mixed condiment, sause and seasoning exports from India, with a combined 36% share of total exports. Australia, Bangladesh, Saudi Arabia, Oman, Canada, Thailand, Qatar, Iraq, Malaysia and Kuwait lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +55.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Bangladesh ($X) were the largest markets for mixed condiment, sause and seasoning exported from India worldwide, with a combined 35% share of total exports. Australia, the United Arab Emirates, Oman, Saudi Arabia, Canada, Thailand, Qatar, Kuwait, Malaysia and Iraq lagged somewhat behind, together comprising a further 46%.

Thailand, with a CAGR of +51.5%, 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, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2013 an increase of 17%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Iraq ($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 Oman (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into India

Mixed condiment, sause and seasoning imports into India stood at X tons in 2022, with an increase of 14% against the previous year. Overall, imports saw a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 59%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, mixed condiment, sause and seasoning imports soared to $X in 2022. Over the period under review, imports recorded resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) constituted the largest mixed condiment, sause and seasoning supplier to India, accounting for a 33% share of total imports. Moreover, mixed condiment, sause and seasoning imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+22.1% per year) and the United States (+9.4% per year).

In value terms, Thailand ($X), the United States ($X) and Malaysia ($X) appeared to be the largest mixed condiment, sause and seasoning suppliers to India, with a combined 63% share of total imports. China, Hong Kong SAR, Singapore, the Netherlands, the United Arab Emirates, Egypt and the UK lagged somewhat behind, together accounting for a further 23%.

Egypt, with a CAGR of +55.5%, saw 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, surging by 13% against the previous year. In general, the import price, however, showed a slight decrease. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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