Oman: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Oman

In 2021, the Omani sauce and seasoning market decreased by -1% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded strong growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in Oman

In value terms, sauce and seasoning production rose significantly to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.0% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 34%. Sauce and seasoning production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports from Oman

After two years of decline, overseas shipments of sauces and seasonings increased by 23% to X tons in 2021. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 32%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, sauce and seasoning exports soared to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +47.1% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main destinations of sauce and seasoning exports from Oman, with a combined 62% share of total exports. These countries were followed by Qatar, South Africa, Jordan and Bahrain, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +73.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sauce and seasoning exported from Oman were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for 68% of total exports. Qatar, Bahrain, Jordan and South Africa lagged somewhat behind, together comprising a further 25%.

South Africa, with a CAGR of +58.6%, saw 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 2021, the average sauce and seasoning export price amounted to $X per ton, with an increase of 2.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to South Africa ($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 Saudi Arabia (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Oman

In 2021, sauce and seasoning imports into Oman expanded slightly to X tons, growing by 5% on the year before. In general, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, sauce and seasoning imports expanded markedly to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 31% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of sauce and seasoning to Oman, accounting for a 54% share of total imports. Moreover, sauce and seasoning imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.4% per year) and Saudi Arabia (+43.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of sauces and seasonings to Oman, comprising 42% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.5% per year) and Saudi Arabia (+46.5% per year).

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2021, with an increase of 5.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 8.1%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :