Malaysia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Malaysia

The Malaysian sauce and seasoning market dropped to $X in 2021, with a decrease of -6.5% against the previous year. Overall, consumption saw a relatively flat trend pattern. Sauce and seasoning consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Sauce And Seasoning Production in Malaysia

In value terms, sauce and seasoning production declined to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced contraction. The growth pace was the most rapid in 2016 with an increase of 14% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports from Malaysia

In 2021, approx. X tons of sauces and seasonings were exported from Malaysia; with an increase of 4.1% on the previous year. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 13% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, sauce and seasoning exports rose notably to $X in 2021. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Singapore (X tons) was the main destination for sauce and seasoning exports from Malaysia, accounting for a 35% share of total exports. Moreover, sauce and seasoning exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-2.2% per year) and the United Arab Emirates (-0.6% per year).

In value terms, Singapore ($X) remains the key foreign market for sauces and seasonings exports from Malaysia, comprising 29% of total exports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total exports. It was followed by Brunei Darussalam, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+1.8% per year) and Brunei Darussalam (+7.5% per year).

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, surging by 4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2015 an increase of 19% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

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 Thailand ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bangladesh (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Malaysia

Sauce and seasoning imports into Malaysia expanded slightly to X tons in 2021, with an increase of 2.6% compared with 2020 figures. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +99.2% against 2013 indices. The most prominent rate of growth was recorded in 2015 with an increase of 33%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, sauce and seasoning imports rose sharply to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.0% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 36% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Thailand (X tons) and Indonesia (X tons) were the main suppliers of sauce and seasoning imports to Malaysia, together comprising 75% of total imports. These countries were followed by the Philippines, Singapore, the United States, South Korea and Japan, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +34.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Indonesia ($X) were the largest sauce and seasoning suppliers to Malaysia, with a combined 63% share of total imports. These countries were followed by Singapore, the Philippines, South Korea, the United States and Japan, which together accounted for a further 24%.

South Korea, with a CAGR of +43.9%, saw the highest growth rate of the value of imports, among 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 sauce and seasoning import price stood at $X per ton in 2021, growing by 2.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :