Southern Asia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Southern Asia

In 2021, after three years of growth, there was decline in the South Asian sauce and seasoning market, when its value decreased by less than 0.1% to $X. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Sauce And Seasoning Production in Southern Asia

In value terms, sauce and seasoning production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 11%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Sauce And Seasoning Exports

Exports in Southern Asia

In 2021, approx. X tons of sauces and seasonings were exported in Southern Asia; with an increase of 10% compared with the year before. Over the period under review, exports enjoyed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 31%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, sauce and seasoning exports rose slightly to $X in 2021. In general, exports posted strong growth. The growth pace was the most rapid in 2013 when exports increased by 54%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. 86% of total exports in 2021. Sri Lanka (X tons) ranks second in terms of the total exports with a 6.2% share, followed by Pakistan (5.9%).

From 2012 to 2021, average annual rates of growth with regard to sauce and seasoning exports from India stood at +11.0%. At the same time, Sri Lanka (+31.4%) and Pakistan (+16.7%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +31.4% from 2012-2021. While the share of Sri Lanka (+4.7 p.p.) and Pakistan (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-7.1 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest sauce and seasoning supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 9.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India amounted to +14.8%. In the other countries, the average annual rates were as follows: Sri Lanka (+36.0% per year) and Pakistan (+16.6% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, falling by -5.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 an increase of 18%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Sri Lanka (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Sauce And Seasoning Imports

Imports in Southern Asia

After two years of decline, overseas purchases of sauces and seasonings increased by 50% to X tons in 2021. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports skyrocketed to $X in 2021. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Bangladesh represented the largest importing country with an import of around X tons, which recorded 39% of total imports. India (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (12%), Sri Lanka (8.9%), Pakistan (8.4%) and Maldives (5.8%). Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), India ($X) and Nepal ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 78% share of total imports.

Bangladesh, with a CAGR of +23.5%, 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, increasing by 3.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2020 an increase of 9.6% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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