U.S.: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in the U.S.

The U.S. sauce and seasoning market contracted modestly to $X in 2021, stabilizing at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 4.2%. Sauce and seasoning consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in the U.S.

In value terms, sauce and seasoning production shrank to $X in 2021. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 2.9% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Sauce And Seasoning Exports

Exports from the U.S.

In 2021, the amount of sauces and seasonings exported from the United States expanded rapidly to X tons, growing by 9.4% on 2020 figures. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, sauce and seasoning exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons), Mexico (X tons) and Saudi Arabia (X tons) were the main destinations of sauce and seasoning exports from the United States, with a combined 60% share of total exports. Japan, Chile, the United Arab Emirates, South Korea and Australia lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for sauces and seasonings exports from the United States, comprising 36% of total exports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total exports. It was followed by Chile, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+9.5% per year) and Chile (+17.9% per year).

Export Prices by Country

The average sauce and seasoning export price stood at $X per ton in 2021, with an increase of 4.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 7.3%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Chile ($X per ton) and Australia ($X per ton), while the average price for exports to Mexico ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into the U.S.

In 2021, sauce and seasoning imports into the United States rose significantly to X tons, surging by 9.3% on the previous year's figure. Overall, total imports indicated resilient 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, imports increased by +74.4% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 15%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, sauce and seasoning imports expanded sharply to $X in 2021. In general, total imports indicated a resilient expansion 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 +84.1% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Mexico (X tons) and Canada (X tons) were the main suppliers of sauce and seasoning imports to the United States, with a combined 64% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +9.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning suppliers to the United States were Canada ($X), Italy ($X) and Mexico ($X), together accounting for 57% of total imports. These countries were followed by Thailand, China, Japan, South Korea and Hong Kong SAR, which together accounted for a further 23%.

Among the main suppliers, South Korea, with a CAGR of +12.1%, 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 average sauce and seasoning import price stood at $X per ton in 2021, growing by 4.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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