Serbia: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Serbia

The Serbian market for mixed condiments, sauses and seasonings fell dramatically to $X in 2022, with a decrease of -29.6% against the previous year. In general, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +26.9% against 2020 indices. Mixed condiment, sause and seasoning consumption peaked at $X in 2021, and then reduced sharply in the following year.

Production of Mixed Condiments, Sauses and Seasonings in Serbia

In value terms, mixed condiment, sause and seasoning production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +34.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 77%. Mixed condiment, sause and seasoning production peaked at $X in 2021, and then declined dramatically in the following year.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Serbia

Mixed condiment, sause and seasoning exports from Serbia expanded to X tons in 2022, surging by 3.3% on the previous year. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 43%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, mixed condiment, sause and seasoning exports expanded remarkably to $X in 2022. Overall, exports saw a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by 37% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons), Croatia (X tons) and North Macedonia (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Serbia, together comprising 62% of total exports. Montenegro, Somalia, Switzerland, Albania and Romania lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Croatia ($X) and North Macedonia ($X) appeared to be the largest markets for mixed condiment, sause and seasoning exported from Serbia worldwide, with a combined 61% share of total exports. Montenegro, Switzerland, Somalia, Romania and Albania lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, Somalia, with a CAGR of +46.0%, recorded 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

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, growing by 6.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 37%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Albania ($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 Somalia (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Serbia

After five years of growth, supplies from abroad of mixed condiments, sauses and seasonings decreased by -0.7% to X tons in 2022. Overall, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2019 with an increase of 55%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, mixed condiment, sause and seasoning imports fell slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2020 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped modestly in the following year.

Imports by Country

Croatia (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Serbia, together accounting for 55% of total imports. The UK, Italy, Slovenia, the Czech Republic, the Netherlands, China, Hungary, Austria, Greece and Belgium lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +58.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning suppliers to Serbia were Germany ($X), Croatia ($X) and the UK ($X), with a combined 43% share of total imports. Poland, Italy, Slovenia, the Netherlands, Austria, the Czech Republic, Hungary, Greece, Belgium and China lagged somewhat behind, together accounting for a further 52%.

Among the main suppliers, Greece, with a CAGR of +50.1%, recorded the highest rates of growth with regard to 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

The average import price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price saw a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform