Thailand - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSauce and Seasoning Price in Thailand - 2023
Contents:
- Sauce and Seasoning Price in Thailand (FOB) - 2023
- Sauce and Seasoning Price in Thailand (CIF) - 2023
- Sauce and Seasoning Exports in Thailand
- Sauce and Seasoning Imports in Thailand
Sauce and Seasoning Price in Thailand (FOB) - 2023
In September 2023, the average sauce and seasoning export price amounted to $2,239 per ton, surging by 3.1% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 an increase of 6.8% month-to-month. The export price peaked in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($2,921 per ton), while the average price for exports to Lao People's Democratic Republic ($1,242 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Sauce and Seasoning Price in Thailand (CIF) - 2023
The average sauce and seasoning import price stood at $2,240 per ton in September 2023, flattening at the previous month. Over the period under review, import price indicated a perceptible expansion from September 2022 to September 2023: its price increased at an average monthly rate of +2.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, sauce and seasoning import price increased by +17.2% against July 2023 indices. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 40% against the previous month. The import price peaked at $2,256 per ton in August 2023, and then reduced modestly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($8,555 per ton), while the price for China ($720 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Sauce and Seasoning Exports in Thailand
In 2022, shipments abroad of sauces and seasonings decreased by -0.6% to 444K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +11.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 22%.
In value terms, sauce and seasoning exports totaled $962M in 2022. The total export value increased at an average annual rate of +6.9% over the period from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
| Export of Sauce and Seasoning in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 98.5 | 107 | 119 | 121 | 7.1% |
| Japan | 75.2 | 84.3 | 78.8 | 87.2 | 5.1% |
| Australia | 56.4 | 64.2 | 58.7 | 77.8 | 11.3% |
| Philippines | 54.2 | 68.4 | 72.9 | 67.3 | 7.5% |
| Malaysia | 46.2 | 43.0 | 45.3 | 59.6 | 8.9% |
| Netherlands | 36.5 | 44.8 | 55.8 | 50.4 | 11.4% |
| Cambodia | 37.3 | 37.3 | 42.5 | 48.9 | 9.4% |
| United Kingdom | 43.5 | 45.7 | 48.2 | 41.0 | -2.0% |
| Lao People's Democratic Republic | 25.0 | 27.8 | 33.3 | 35.6 | 12.5% |
| Germany | 26.0 | 26.9 | 36.3 | 33.8 | 9.1% |
| China | 24.2 | 24.4 | 28.6 | 32.6 | 10.4% |
| South Korea | 18.9 | 20.5 | 21.5 | 23.8 | 8.0% |
| Sweden | 18.9 | 17.7 | 22.0 | 19.9 | 1.7% |
| Others | 226 | 228 | 266 | 263 | 5.2% |
| Total | 787 | 840 | 929 | 962 | 6.9% |
Top Export Markets for Sauce and Seasoning from Thailand in 2022:
- United States (57.2K tons)
- Cambodia (34.5K tons)
- Lao People's Democratic Republic (29.2K tons)
- Japan (29.2K tons)
- Australia (29.0K tons)
- Malaysia (28.9K tons)
- Philippines (25.7K tons)
- Netherlands (21.2K tons)
- United Kingdom (18.8K tons)
- Germany (14.9K tons)
- China (14.6K tons)
- South Korea (12.7K tons)
- Sweden (10.4K tons)
Sauce and Seasoning Imports in Thailand
In 2022, supplies from abroad of sauces and seasonings decreased by -14.9% to 65K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +17.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 57% against the previous year. As a result, imports reached the peak of 76K tons, and then shrank in the following year.
In value terms, sauce and seasoning imports expanded slightly to $115M in 2022. The total import value increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 12%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Sauce and Seasoning in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 23.0 | 23.2 | 24.1 | 27.0 | 5.5% |
| China | 14.5 | 16.9 | 21.8 | 20.8 | 12.8% |
| Singapore | 12.1 | 11.3 | 13.0 | 15.7 | 9.1% |
| South Korea | 5.0 | 8.8 | 9.5 | 12.3 | 35.0% |
| Malaysia | 8.3 | 9.1 | 8.5 | 8.4 | 0.4% |
| Indonesia | 9.9 | 7.2 | 9.0 | 7.3 | -9.7% |
| United States | 5.6 | 5.0 | 4.2 | 5.4 | -1.2% |
| Vietnam | 2.8 | 3.9 | 3.1 | 2.9 | 1.2% |
| Myanmar | 1.2 | 2.9 | 4.9 | N/A | 102.1% |
| Others | 9.4 | 12.2 | 14.3 | 14.9 | 16.6% |
| Total | 91.7 | 101 | 112 | 115 | 7.8% |
Top Suppliers of Sauce and Seasoning to Thailand in 2022:
- China (34.2K tons)
- Japan (8.8K tons)
- Singapore (5.6K tons)
- South Korea (4.7K tons)
- Vietnam (3.4K tons)
- Indonesia (1.4K tons)
- Malaysia (1.4K tons)
- United States (1.0K tons)
This report provides an in-depth analysis of the sauce and seasoning market in Thailand. 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:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- 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
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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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