Saudi Arabia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Saudi Arabia

The Saudi sauce and seasoning market was finally on the rise to reach $X in 2021, after three years of decline. Overall, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Sauce And Seasoning Production in Saudi Arabia

In value terms, sauce and seasoning production expanded sharply to $X in 2021 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.3% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 55%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Sauce And Seasoning Exports

Exports from Saudi Arabia

In 2021, overseas shipments of sauces and seasonings decreased by -7.9% to X tons, falling for the third year in a row after two years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 26% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, sauce and seasoning exports fell to $X in 2021. In general, total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 26%. Over the period under review, the exports attained the maximum at $X in 2020, and then shrank in the following year.

Exports by Country

Yemen (X tons) was the main destination for sauce and seasoning exports from Saudi Arabia, accounting for a 45% share of total exports. Moreover, sauce and seasoning exports to Yemen exceeded the volume sent to the second major destination, Iraq (X tons), fourfold. Kuwait (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Yemen stood at +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-8.6% per year) and Kuwait (-5.4% per year).

In value terms, the largest markets for sauce and seasoning exported from Saudi Arabia were Yemen ($X), Kuwait ($X) and Jordan ($X), together comprising 58% of total exports. These countries were followed by the United Arab Emirates, Oman, Iraq, Bahrain and Egypt, which together accounted for a further 35%.

In terms of the main countries of destination, Oman, with a CAGR of +40.8%, saw the highest growth rate of the value of exports, 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, waning by -3.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 11% against the previous year. The export price peaked at $X per ton in 2020, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Iraq ($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 Bahrain (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of sauces and seasonings increased by 3.6% to X tons, rising for the third year in a row after three years of decline. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2019 when imports increased by 24%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, sauce and seasoning imports expanded sharply to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% 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 +56.9% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 21% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of sauce and seasoning to Saudi Arabia, with a 32% share of total imports. Moreover, sauce and seasoning imports from the United States exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. The third position in this ranking was held by Oman (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+10.4% per year) and Oman (-5.7% per year).

In value terms, the largest sauce and seasoning suppliers to Saudi Arabia were the United States ($X), Indonesia ($X) and Oman ($X), with a combined 59% share of total imports. Egypt, the United Arab Emirates, the Netherlands, Poland and the Philippines lagged somewhat behind, together comprising a further 26%.

In terms of the main suppliers, Poland, with a CAGR of +302.4%, recorded the highest growth rate of the value of imports, 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, growing by 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2020 an increase of 12% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the near future.

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 Indonesia ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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