Uruguay: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Uruguay

The Uruguayan market for mixed condiments, sauses and seasonings expanded markedly to $X in 2022, with an increase of 5.5% against the previous year. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Uruguay

In value terms, mixed condiment, sause and seasoning production rose remarkably to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 75%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Uruguay

In 2022, overseas shipments of mixed condiments, sauses and seasonings increased by 0.8% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, mixed condiment, sause and seasoning exports stood at $X in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.6% against 2016 indices. The pace of growth was the most pronounced in 2018 when exports increased by 19%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for mixed condiment, sause and seasoning exports from Uruguay, with a 74% share of total exports. Moreover, mixed condiment, sause and seasoning exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+54.1% per year) and Argentina (-2.0% per year).

In value terms, Brazil ($X) remains the key foreign market for mixed condiments, sauses and seasonings exports from Uruguay, comprising 74% of total exports. The second position in the ranking was held by Chile ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Brazil totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+54.6% per year) and Argentina (-1.5% per year).

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 4.9%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Uruguay

In 2022, approx. X tons of mixed condiments, sauses and seasonings were imported into Uruguay; picking up by 2.4% compared with the previous year. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 16% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, mixed condiment, sause and seasoning imports surged to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) constituted the largest mixed condiment, sause and seasoning supplier to Uruguay, accounting for a 72% share of total imports. Moreover, mixed condiment, sause and seasoning imports from Argentina exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+29.9% per year) and Spain (+7.8% per year).

In value terms, Argentina ($X) constituted the largest supplier of mixed condiments, sauses and seasonings to Uruguay, comprising 62% of total imports. The second position in the ranking was held by Brazil ($X), with a 17% share of total imports. It was followed by the United States, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina amounted to -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.6% per year) and the United States (+16.0% per year).

Import Prices by Country

The average import price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, with an increase of 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :