Venezuela: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Venezuela

The Venezuelan market for mixed condiments, sauses and seasonings contracted modestly to $X in 2022, waning by -4% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Mixed condiment, sause and seasoning consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Venezuela

In value terms, mixed condiment, sause and seasoning production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 35% against the previous year. Mixed condiment, sause and seasoning production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Venezuela

In 2022, after five years of growth, there was significant decline in shipments abroad of mixed condiments, sauses and seasonings, when their volume decreased by -25.9% to X tons. Over the period under review, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by 1,016% against the previous year. The exports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, mixed condiment, sause and seasoning exports fell notably to $X in 2022. Overall, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when exports increased by 823%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

The United States (X tons) and Chile (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Venezuela.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +474.2%).

In value terms, Chile ($X) and the United States ($X) appeared to be the largest markets for mixed condiment, sause and seasoning exported from Venezuela worldwide.

Chile, with a CAGR of +416.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, which is down by -9.6% against the previous year. In general, the export price, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 192% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas 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 the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+25.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Venezuela

In 2022, after two years of growth, there was significant decline in overseas purchases of mixed condiments, sauses and seasonings, when their volume decreased by -20.9% to X tons. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 237%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, mixed condiment, sause and seasoning imports reduced remarkably to $X in 2022. Over the period under review, imports showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 241% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of mixed condiment, sause and seasoning to Venezuela, accounting for a 87% share of total imports. Moreover, mixed condiment, sause and seasoning imports from Brazil exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to +48.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-22.3% per year) and China (+18.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of mixed condiments, sauses and seasonings to Venezuela, comprising 76% of total imports. The second position in the ranking was held by Mexico ($X), with a 9.9% share of total imports. It was followed by the United States, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +48.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-21.1% 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, increasing by 7.1% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2018 when the average import price increased by 46% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($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 (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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