South-Eastern Asia: Market for Mixed Condiments, Sauses and Seasonings 2022

Market Size for Mixed Condiments, Sauses and Seasonings in South-Eastern Asia

In 2021, the Southeast Asian market for mixed condiments, sauses and seasonings decreased by -5% to $X, falling for the second year in a row after three years of growth. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% 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 -17.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in South-Eastern Asia

In value terms, mixed condiment, sause and seasoning production shrank to $X in 2021 estimated in export price. The total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% 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 -12.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports in South-Eastern Asia

In 2021, mixed condiment, sause and seasoning exports in South-Eastern Asia rose rapidly to X tons, surging by 14% against the previous year. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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 +90.9% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, mixed condiment, sause and seasoning exports reached $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +89.0% against 2012 indices. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Thailand prevails in exports structure, amounting to X tons, which was near 62% of total exports in 2021. Indonesia (X tons) ranks second in terms of the total exports with a 9.8% share, followed by the Philippines (9.5%), Malaysia (9%) and Vietnam (6.3%). Singapore (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, Indonesia (+19.7%), the Philippines (+16.0%) and Vietnam (+10.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +19.7% from 2012-2021. Malaysia and Singapore experienced a relatively flat trend pattern. From 2012 to 2021, the share of Indonesia, the Philippines and Vietnam increased by +6.1, +4.7 and +1.6 percentage points, respectively.

In value terms, Thailand ($X) remains the largest mixed condiment, sause and seasoning supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 13% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand amounted to +6.9%. In the other countries, the average annual rates were as follows: Indonesia (+21.4% per year) and Malaysia (+2.4% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, declining by -3.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 14%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.6%), while the other leaders experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports in South-Eastern Asia

In 2021, approx. X tons of mixed condiments, sauses and seasonings were imported in South-Eastern Asia; growing by 7.2% on the previous year's figure. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 +96.1% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 23% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, mixed condiment, sause and seasoning imports expanded rapidly to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 +85.7% against 2012 indices. The most prominent rate of growth was recorded in 2015 with an increase of 19%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the Philippines (X tons), Malaysia (X tons), Singapore (X tons), Thailand (X tons) and Indonesia (X tons) was the key importer of mixed condiments, sauses and seasonings in South-Eastern Asia, comprising 81% of total import. Vietnam (X tons) ranks next in terms of the total imports with a 5.9% share, followed by Cambodia (5.5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +20.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 59% of total imports. Thailand, Indonesia, Vietnam and Cambodia lagged somewhat behind, together comprising a further 35%.

Among the main importing countries, Cambodia, with a CAGR of +17.9%, saw 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 import price in South-Eastern Asia stood at $X per ton in 2021, approximately equating the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 7.2% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :