Southern Asia: Market for Mixed Condiments, Sauses and Seasonings 2022

Market Size for Mixed Condiments, Sauses and Seasonings in Southern Asia

The South Asian market for mixed condiments, sauses and seasonings contracted to $X in 2021, with a decrease of -11.4% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.2% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Southern Asia

In value terms, mixed condiment, sause and seasoning production dropped to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 -20.0% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Mixed Condiments, Sauses and Seasonings

Exports in Southern Asia

For the fourth year in a row, Southern Asia recorded growth in shipments abroad of mixed condiments, sauses and seasonings, which increased by 11% to X tons in 2021. Total exports indicated buoyant growth from 2012 to 2021: its volume 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, exports increased by +60.6% against 2017 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 55%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, mixed condiment, sause and seasoning exports rose to $X in 2021. Overall, exports posted a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 57%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Pakistan (X tons), committing a 5.6% share of total exports. Sri Lanka (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mixed condiment, sause and seasoning exports from India stood at +6.3%. At the same time, Sri Lanka (+18.6%) and Pakistan (+16.3%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +18.6% from 2012-2021. From 2012 to 2021, the share of Pakistan and Sri Lanka increased by +2.9 and +1.5 percentage points, respectively.

In value terms, India ($X) remains the largest mixed condiment, sause and seasoning supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by Pakistan ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +8.0%. In the other countries, the average annual rates were as follows: Pakistan (+17.2% per year) and Sri Lanka (+19.3% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, waning by -6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2017 when the export price increased by 15%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Imports of Mixed Condiments, Sauses and Seasonings

Imports in Southern Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of mixed condiments, sauses and seasonings, when their volume increased by 37% to X tons. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning imports soared to $X in 2021. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 38%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Bangladesh (X tons), India (X tons) and Maldives (X tons) was the key importer of mixed condiments, sauses and seasonings in Southern Asia, mixing up 73% of total import. Nepal (X tons) ranks next in terms of the total imports with a 9.4% share, followed by Pakistan (7.6%) and Sri Lanka (7.3%). Afghanistan (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were in Pakistan (with a CAGR of +17.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning importing markets in Southern Asia were Bangladesh ($X), India ($X) and Nepal ($X), with a combined 72% share of total imports. Maldives, Sri Lanka, Pakistan and Afghanistan lagged somewhat behind, together accounting for a further 28%.

Maldives, with a CAGR of +16.6%, 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 Southern Asia amounted to $X per ton, waning by -7.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2016 when the import price increased by 13%. The level of import peaked at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :