Peru: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Peru

The Peruvian sauce and seasoning market stood at $X in 2021, surging by 8.8% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.9% against 2019 indices. Sauce and seasoning consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in Peru

In value terms, sauce and seasoning production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 -7.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 31%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports from Peru

In 2021, overseas shipments of sauces and seasonings increased by 28% to X tons, rising for the sixth consecutive year after three years of decline. In general, total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% 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 +95.5% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning exports surged 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 +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +105.8% against 2013 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Chile (X tons) and Bolivia (X tons) were the main destinations of sauce and seasoning exports from Peru, with a combined 84% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +32.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and Bolivia ($X) appeared to be the largest markets for sauce and seasoning exported from Peru worldwide, with a combined 83% share of total exports.

Chile, with a CAGR of +33.9%, saw the highest rates of growth with regard to 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

The average sauce and seasoning export price stood at $X per ton in 2021, declining by -4.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2014 when the average export price increased by 26%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Peru

In 2021, the amount of sauces and seasonings imported into Peru soared to X tons, rising by 40% compared with the previous year's figure. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.5% against 2019 indices. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, sauce and seasoning imports skyrocketed to $X in 2021. In general, total imports indicated prominent 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, imports decreased by -6.0% against 2019 indices. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest sauce and seasoning supplier to Peru, accounting for a 42% share of total imports. Moreover, sauce and seasoning imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.5% per year) and Mexico (+23.9% per year).

In value terms, Mexico ($X), China ($X) and the United States ($X) were the largest sauce and seasoning suppliers to Peru, with a combined 63% share of total imports.

Mexico, with a CAGR of +21.2%, 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

In 2021, the average sauce and seasoning import price amounted to $X per ton, waning by -4.4% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.8%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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 2021, the most notable rate of growth in terms of prices was attained by China (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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