Report Update: May 1, 2024

Colombia - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights

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Sauce and Seasoning Price in Colombia - 2022

Sauce and Seasoning Price in Colombia (CIF) - 2022

In February 2022, the average sauce and seasoning import price amounted to $3,026 per ton, waning by -2.2% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in January 2022 an increase of 13% m-o-m. As a result, import price attained the peak level of $3,094 per ton, and then shrank in the following month.

There were significant differences in the average prices amongst the major supplying countries. In February 2022, the country with the highest price was Mexico ($4,948 per ton), while the price for Chile ($1,585 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Sauce and Seasoning Price in Colombia (FOB) - 2022

In February 2022, the average sauce and seasoning export price amounted to $2,183 per ton, reducing by -31.5% against the previous month. Over the period under review, the export price recorded a pronounced contraction. The growth pace was the most rapid in December 2021 an increase of 17% month-to-month. Over the period under review, the average export prices hit record highs at $3,272 per ton in February 2021; however, from March 2021 to February 2022, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Belgium ($3,118 per ton), while the average price for exports to Ecuador ($828 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (-0.2%), while the prices for the other major destinations experienced a decline.

Sauce and Seasoning Imports in Colombia

Sauce and seasoning imports into Colombia contracted dramatically to 15K tons in 2022, reducing by -28% on 2021 figures. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. As a result, imports reached the peak of 21K tons, and then fell significantly in the following year.

In value terms, sauce and seasoning imports dropped rapidly to $41M in 2022. Over the period under review, imports saw a slight contraction. The pace of growth was the most pronounced in 2021 when imports increased by 43% against the previous year. As a result, imports attained the peak of $55M, and then dropped notably in the following year.

Import of Sauce and Seasoning in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	21.3	16.8	24.4	18.3	-4.9%
Mexico	9.9	9.0	13.8	10.4	1.7%
Italy	3.4	5.3	5.7	4.3	8.1%
Chile	1.5	1.1	1.8	1.3	-4.7%
Canada	0.8	0.8	1.5	1.1	11.2%
China	1.2	1.0	1.3	1.0	-5.9%
Spain	1.2	0.9	1.4	1.0	-5.9%
Others	3.9	3.7	5.4	4.0	0.8%
Total	43.2	38.5	55.2	41.3	-1.5%

Top Suppliers of Sauce and Seasoning to Colombia in 2022:

United States (7.8K tons)
Mexico (2.5K tons)
Italy (1.5K tons)
China (0.8K tons)
Chile (0.7K tons)
Canada (0.5K tons)
Spain (0.3K tons)

Sauce and Seasoning Exports in Colombia

After three years of growth, shipments abroad of sauces and seasonings decreased by -42.5% to 3.3K tons in 2022. In general, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in 2020 with an increase of 47%.

In value terms, sauce and seasoning exports reduced notably to $12M in 2022. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 43%.

Export of Sauce and Seasoning in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	2,797	5,117	7,921	5,688	26.7%
Ecuador	1,559	1,172	1,596	1,146	-9.8%
Belgium	312	891	1,533	1,101	52.2%
Peru	792	720	1,095	786	-0.3%
Panama	1,074	1,038	648	653	-15.3%
United Kingdom	540	598	381	359	-12.7%
Chile	21.3	90.4	496	356	155.7%
Venezuela	74.4	277	437	314	61.6%
Curacao	269	336	389	279	1.2%
Sweden	171	277	374	269	16.3%
Haiti	191	377	304	218	4.5%
Costa Rica	299	418	191	215	-10.4%
United Arab Emirates	18.4	196	210	151	101.7%
Others	788	1,199	1,249	856	2.8%
Total	8,907	12,707	16,826	12,391	11.6%

Top Export Markets for Sauce and Seasoning from Colombia in 2022:

United States (1542.3 tons)
Ecuador (297.9 tons)
Belgium (257.4 tons)
Panama (212.3 tons)
Peru (169.2 tons)
Venezuela (131.4 tons)
Curacao (114.4 tons)
United Kingdom (84.1 tons)
Chile (81.9 tons)
Haiti (81.6 tons)
Sweden (63.1 tons)
Costa Rica (61.7 tons)
United Arab Emirates (52.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the sauce and seasoning market in Colombia. 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 10841210 - Soya sauce
Prodcom 10841230 - Tomato ketchup and other tomato sauces
Prodcom 10841253 - Mustard flour and meal
Prodcom 10841255 - Prepared mustard
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:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. 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
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023