Peru: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Peru

The Peruvian market for mixed condiments, sauses and seasonings dropped to $X in 2022, remaining relatively unchanged against the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 -7.4% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Peru

In value terms, mixed condiment, sause and seasoning production contracted to $X in 2022 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 -5.5% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 32%. Mixed condiment, sause and seasoning production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Peru

In 2022, after six years of growth, there was significant decline in shipments abroad of mixed condiments, sauses and seasonings, when their volume decreased by -12.6% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 34% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, mixed condiment, sause and seasoning exports dropped to $X in 2022. In general, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.5% against 2013 indices. The pace of growth appeared the most rapid in 2021 with an increase of 24%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

The United States (X tons), Chile (X tons) and Bolivia (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Peru, together accounting for 85% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +32.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and Bolivia ($X) were the largest markets for mixed condiment, sause and seasoning exported from Peru worldwide, together comprising 84% of total exports.

Chile, with a CAGR of +31.8%, recorded 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

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, picking up by 3.5% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 decreased by -13.5% against 2015 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Saudi Arabia ($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 Saudi Arabia (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Peru

In 2022, the amount of mixed condiments, sauses and seasonings imported into Peru reduced to X tons, which is down by -13.8% compared with the previous year. In general, total imports indicated a resilient 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 +19.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, mixed condiment, sause and seasoning imports declined to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +15.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 31%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mixed condiment, sause and seasoning to Peru, with a 34% share of total imports. Moreover, mixed condiment, sause and seasoning imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.2% per year) and Mexico (+17.5% per year).

In value terms, Mexico ($X), the United States ($X) and China ($X) were the largest mixed condiment, sause and seasoning suppliers to Peru, together accounting for 61% of total imports.

Mexico, with a CAGR of +16.7%, saw the highest rates of growth with regard to 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

In 2022, the average import price for mixed condiments, sauses and seasonings amounted to $X per ton, rising by 2.3% against the previous year. Over the period under review, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2016 an increase of 7.7% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Argentina ($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 (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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