Report Update Nov 1, 2024

Republic of Korea - Mixed Condiments, Sauses and Seasonings - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Republic of Korea

The South Korean market for mixed condiments, sauses and seasonings reached $X in 2022, with an increase of 4% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Mixed condiment, sause and seasoning consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Republic of Korea

In value terms, mixed condiment, sause and seasoning production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 most prominent rate of growth was recorded in 2019 when the production volume increased by 51% against the previous year. 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 Republic of Korea

After six years of growth, shipments abroad of mixed condiments, sauses and seasonings decreased by -3.8% to X tons in 2022. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined modestly in the following year.

In value terms, mixed condiment, sause and seasoning exports shrank to $X in 2022. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

Myanmar (X tons) was the main destination for mixed condiment, sause and seasoning exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +158.2%.

In value terms, Myanmar ($X) emerged as the key foreign market for mixed condiments, sauses and seasonings exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar stood at +155.4%.

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, reducing by -2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 4.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +4.0% per year.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Republic of Korea

In 2022, overseas purchases of mixed condiments, sauses and seasonings decreased by -3.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 8.7% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, mixed condiment, sause and seasoning imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Myanmar (X tons) was the main supplier of mixed condiment, sause and seasoning to South Korea, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar totaled +318.9%.

In value terms, Myanmar ($X) constituted the largest supplier of mixed condiments, sauses and seasonings to South Korea.

From 2012 to 2022, the average annual growth rate of value from Myanmar totaled +354.4%.

Import Prices by Country

In 2022, the average import price for mixed condiments, sauses and seasonings amounted to $X per ton, dropping by -2.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 6.3%. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to +8.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for mixed condiments, sauses and seasonings in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 29% of global consumption. Indonesia, Japan, the UK, Russia, Bangladesh, Brazil, Germany, Pakistan and Mexico lagged somewhat behind, together comprising a further 25%.

What are the largest producers of mixed condiments, sauses and seasonings in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 30% of global production. These countries were followed by Indonesia, Japan, Russia, Bangladesh, Brazil, the UK, Germany, Pakistan, Mexico and Thailand, which together accounted for a further 27%.

What are the leading suppliers of mixed condiments, sauses and seasonings to Republic of Korea?

In value terms, the largest mixed condiment, sause and seasoning suppliers to South Korea were China, Japan and the United States, with a combined 74% share of total imports.

What are the leading importers of mixed condiments, sauses and seasonings from Republic of Korea?

In value terms, the largest markets for mixed condiment, sause and seasoning exported from South Korea were the United States, China and Russia, with a combined 52% share of total exports. These countries were followed by Japan, the Philippines, Vietnam, Australia, Thailand, Taiwan Chinese), Singapore, Canada, Hong Kong SAR and Mongolia, which together accounted for a further 36%.

What is the average export price for mixed condiments, sauses and seasonings in Republic of Korea?

The average export price for mixed condiments, sauses and seasonings stood at $2,952 per ton in 2021, growing by 1.7% against the previous year.

What is the average import price for mixed condiments, sauses and seasonings in Republic of Korea?

In 2021, the average import price for mixed condiments, sauses and seasonings amounted to $2,104 per ton, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the market for mixed condiment, sause and seasoning in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10841270 - Sauces and preparations therefor, mixed condiments and mixed seasonings (excluding soya sauce, tomato ketchup, o ther tomato sauces, mustard flour or meal and prepared mustard)

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023