Portugal: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Portugal

In 2021, the Portuguese sauce and seasoning market decreased by -98.4% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a sharp slump. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in Portugal

In value terms, sauce and seasoning production contracted significantly to $X in 2021 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +44.9% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 37%. Sauce and seasoning production peaked at $X in 2020, and then fell dramatically in the following year.

Sauce And Seasoning Exports

Exports from Portugal

In 2021, overseas shipments of sauces and seasonings increased by 38% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +10.7% 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 +52.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% 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 +58.4% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for sauce and seasoning exports from Portugal, with a 58% share of total exports. Moreover, sauce and seasoning exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), eightfold. The third position in this ranking was taken by France (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+10.0% per year) and France (+1.0% per year).

In value terms, the UK ($X) remains the key foreign market for sauces and seasonings exports from Portugal, comprising 47% of total exports. The second position in the ranking was held by Spain ($X), with a 14% share of total exports. It was followed by France, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+11.2% per year) and France (+4.0% per year).

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, with an increase of 5.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Germany ($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 Ireland (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Portugal

In 2021, imports of sauces and seasonings into Portugal skyrocketed to X tons, jumping by 17% compared with the previous year's figure. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.3% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports skyrocketed to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of sauce and seasoning to Portugal, with a 54% share of total imports. Moreover, sauce and seasoning imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by France (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.7% per year) and France (+16.1% per year).

In value terms, Spain ($X) constituted the largest supplier of sauces and seasonings to Portugal, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with an 8.7% share of total imports. It was followed by the UK, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.8% per year) and the UK (+9.1% per year).

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2021, with an increase of 7.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.5% against the previous year. The import price peaked in 2021 and is likely to see steady growth in years to come.

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 Japan ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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