Nepal: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Nepal

The Nepalese market for mixed condiments, sauses and seasonings was estimated at $X in 2022, increasing by 2.8% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 -2.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Nepal

In value terms, mixed condiment, sause and seasoning production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -3.7% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 35%. Mixed condiment, sause and seasoning production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Nepal

In 2022, shipments abroad of mixed condiments, sauses and seasonings decreased by -18.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 905%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, mixed condiment, sause and seasoning exports fell modestly to $X in 2022. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,044% against the previous year. The exports peaked at $X in 2021, and then fell slightly in the following year.

Exports by Country

India (X tons), Malaysia (X tons) and Australia (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Nepal, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +77.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed condiment, sause and seasoning exported from Nepal were India ($X), Australia ($X) and Malaysia ($X), together accounting for 78% of total exports.

Malaysia, with a CAGR of +62.3%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, growing by 22% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed condiment, sause and seasoning export price increased by +39.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 23%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to China ($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 India (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Nepal

In 2022, mixed condiment, sause and seasoning imports into Nepal fell to X tons, which is down by -10.6% compared with 2021 figures. Overall, total imports indicated a buoyant 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, imports increased by +13.5% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 41% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, mixed condiment, sause and seasoning imports contracted to $X in 2022. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 41%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Singapore (X tons), India (X tons) and China (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Nepal, together comprising 75% of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning suppliers to Nepal were Singapore ($X), India ($X) and China ($X), with a combined 80% share of total imports. Thailand, the United Arab Emirates, the United States and Bangladesh lagged somewhat behind, together comprising a further 16%.

In terms of the main suppliers, Bangladesh, with a CAGR of +23.9%, saw 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, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. The import price peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the United Arab Emirates ($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 (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform