South-Eastern Asia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in South-Eastern Asia

After three years of growth, the Southeast Asian sauce and seasoning market decreased by -2.6% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then contracted slightly in the following year.

Sauce And Seasoning Production in South-Eastern Asia

In value terms, sauce and seasoning production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced slightly in the following year.

Sauce And Seasoning Exports

Exports in South-Eastern Asia

In 2021, exports of sauces and seasonings in South-Eastern Asia expanded notably to X tons, surging by 13% against 2020 figures. Total exports indicated strong growth 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, exports increased by +39.9% against 2014 indices. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, sauce and seasoning exports rose remarkably to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +75.6% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the largest exporting country with an export of around X tons, which accounted for 56% of total exports. Indonesia (X tons) took the second position in the ranking, followed by Malaysia (X tons), the Philippines (X tons), Vietnam (X tons) and Singapore (X tons). All these countries together held near 44% share of total exports.

Exports from Thailand increased at an average annual rate of +7.0% from 2012 to 2021. At the same time, the Philippines (+10.6%), Vietnam (+10.0%), Indonesia (+8.1%) and Singapore (+1.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +10.6% from 2012-2021. Malaysia experienced a relatively flat trend pattern. From 2012 to 2021, the share of the Philippines, Thailand and Vietnam increased by +2.8, +2.6 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest sauce and seasoning supplier in South-Eastern Asia, comprising 54% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 12% 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 +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+7.1% per year) and Malaysia (+2.3% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, reducing by -1.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 9.1% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 the Philippines (+4.3%), while the other leaders experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports in South-Eastern Asia

In 2021, sauce and seasoning imports in South-Eastern Asia soared to X tons, growing by 16% against the previous year's figure. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.6% against 2012 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 17% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, sauce and seasoning imports rose significantly to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.0% 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 +83.9% against 2012 indices. The pace of growth appeared the most rapid in 2018 with an increase of 15%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

The purchases of the five major importers of sauces and seasonings, namely the Philippines, Singapore, Malaysia, Thailand and Indonesia, represented more than two-thirds of total import. Vietnam (X tons) took a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Lao People's Democratic Republic (5%) and Cambodia (4.6%).

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +20.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning importing markets in South-Eastern Asia were the Philippines ($X), Singapore ($X) and Malaysia ($X), together comprising 56% of total imports. Thailand, Indonesia, Vietnam, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together comprising a further 39%.

Cambodia, with a CAGR of +17.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, reducing by -5.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 4.4%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($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 (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :