Philippines - Mixed Condiments, Sauses and Seasonings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Mixed Condiment, Sause and Seasoning in the Philippines - 2023
Contents:
- Price for Mixed Condiment, Sause and Seasoning in the Philippines (CIF) - 2023
- Price for Mixed Condiment, Sause and Seasoning in the Philippines (FOB) - 2023
- Imports of Mixed Condiment, Sause and Seasoning in the Philippines
- Exports of Mixed Condiment, Sause and Seasoning in the Philippines
Price for Mixed Condiment, Sause and Seasoning in the Philippines (CIF) - 2023
In June 2023, the average import price for mixed condiments, sauses and seasonings amounted to $2,306 per ton, rising by 13% against the previous month. Over the period from June 2022 to June 2023, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 21% against the previous month. Over the period under review, average import prices attained the maximum in June 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($5,139 per ton), while the price for South Korea ($1,130 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Mixed Condiment, Sause and Seasoning in the Philippines (FOB) - 2023
The average export price for mixed condiments, sauses and seasonings stood at $2,525 per ton in June 2023, with an increase of 13% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.2%. The pace of growth appeared the most rapid in August 2022 when the average export price increased by 32% month-to-month. Over the period under review, the average export prices hit record highs in June 2023.
There were significant differences in the average prices for the major export markets. In June 2023, the country with the highest price was Vietnam ($3,595 per ton), while the average price for exports to Kuwait ($1,470 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Mixed Condiment, Sause and Seasoning in the Philippines
In 2022, mixed condiment, sause and seasoning imports into the Philippines rose notably to 97K tons, picking up by 11% against 2021 figures. The total import volume increased at an average annual rate of +10.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 12%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, mixed condiment, sause and seasoning imports stood at $200M in 2022. The total import value increased at an average annual rate of +12.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 16%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Mixed Condiment, Sause and Seasoning in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 44.0 | 45.3 | 50.7 | 66.1 | 14.5% |
| Thailand | 52.6 | 63.5 | 70.8 | 63.8 | 6.6% |
| Indonesia | 1.8 | 9.5 | 11.3 | 11.2 | 83.9% |
| United States | 11.9 | 10.9 | 10.3 | 10.1 | -5.3% |
| Malaysia | 7.7 | 6.0 | 8.2 | 8.5 | 3.3% |
| Vietnam | 5.3 | 8.0 | 7.2 | 8.4 | 16.6% |
| Japan | 3.4 | 4.5 | 6.4 | 8.2 | 34.1% |
| South Korea | 2.8 | 3.2 | 4.9 | 5.9 | 28.2% |
| Others | 10.1 | 10.8 | 13.2 | 17.7 | 20.6% |
| Total | 140 | 162 | 183 | 200 | 12.6% |
Top Suppliers of Mixed Condiment, Sause and Seasoning to the Philippines in 2022:
- China (38.0K tons)
- Thailand (24.8K tons)
- United States (5.6K tons)
- South Korea (5.6K tons)
- Japan (5.5K tons)
- Vietnam (3.5K tons)
- Indonesia (2.9K tons)
- Malaysia (2.5K tons)
Exports of Mixed Condiment, Sause and Seasoning in the Philippines
In 2022, the amount of mixed condiments, sauses and seasonings exported from the Philippines reduced to 59K tons, falling by -5.2% against the previous year. The total export volume increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 23%. As a result, the exports attained the peak of 62K tons, and then shrank in the following year.
In value terms, mixed condiment, sause and seasoning exports reached $117M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +12.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Export of Mixed Condiment, Sause and Seasoning in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 20.6 | 26.1 | 32.0 | 33.2 | 17.2% |
| United Arab Emirates | 12.6 | 10.8 | 10.7 | 14.4 | 4.6% |
| Canada | 7.7 | 9.2 | 9.8 | 11.7 | 15.0% |
| Malaysia | 5.7 | 3.7 | 8.6 | 7.6 | 10.1% |
| Australia | 3.6 | 4.6 | 6.7 | 7.0 | 24.8% |
| Singapore | 3.4 | 3.4 | 5.7 | 6.0 | 20.8% |
| Qatar | 4.8 | 3.0 | 4.3 | 5.3 | 3.4% |
| Saudi Arabia | 3.6 | 3.9 | 4.6 | 5.0 | 11.6% |
| Hong Kong SAR | 3.8 | 4.6 | 4.8 | 4.7 | 7.3% |
| Vietnam | 1.9 | 1.2 | 2.6 | 2.9 | 15.1% |
| United Kingdom | 1.1 | 1.4 | 2.4 | 2.2 | 26.0% |
| Kuwait | 2.1 | 1.9 | 2.9 | 2.0 | -1.6% |
| Others | 10.8 | 10.8 | 20.0 | 15.3 | 12.3% |
| Total | 81.7 | 84.6 | 115 | 117 | 12.7% |
Top Export Markets for Mixed Condiment, Sause and Seasoning from the Philippines in 2022:
- United States (17.4K tons)
- United Arab Emirates (8.5K tons)
- Canada (5.2K tons)
- Saudi Arabia (3.2K tons)
- Qatar (3.1K tons)
- Malaysia (3.1K tons)
- Australia (3.0K tons)
- Singapore (2.6K tons)
- Hong Kong SAR (2.4K tons)
- Kuwait (1.2K tons)
- United Kingdom (1.0K tons)
- Vietnam (0.9K tons)
This report provides an in-depth analysis of the market for mixed condiment, sause and seasoning in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10841270 - Sauces and preparations therefor, mixed condiments and mixed seasonings (excluding soya sauce, tomato ketchup, o ther tomato sauces, mustard flour or meal and prepared mustard)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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