Vietnam - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSauce and Seasoning Price in Vietnam - 2021
Contents:
- Sauce and Seasoning Price in Vietnam (FOB) - 2021
- Sauce and Seasoning Price in Vietnam (CIF) - 2021
- Sauce and Seasoning Exports in Vietnam
- Sauce and Seasoning Imports in Vietnam
Sauce and Seasoning Price in Vietnam (FOB) - 2021
The average sauce and seasoning export price stood at $2,691 per ton in December 2021, shrinking by -2.3% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2021 when the average export price increased by 4.1% against the previous month. Over the period under review, the average export prices reached the maximum at $2,853 per ton in October 2021; however, from November 2021 to December 2021, the export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In December 2021, the countries with the highest prices were Thailand ($2,995 per ton) and Japan ($2,990 per ton), while the average price for exports to Russia ($1,997 per ton) and Cambodia ($2,298 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.3%), while the prices for the other major destinations experienced more modest paces of growth.
Sauce and Seasoning Price in Vietnam (CIF) - 2021
In December 2021, the average sauce and seasoning import price amounted to $3,029 per ton, remaining constant against the previous month. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2021 when the average import price increased by 4.9% m-o-m. The import price peaked at $3,120 per ton in September 2021; however, from October 2021 to December 2021, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2021, the highest price was recorded for prices from the Philippines ($3,510 per ton) and Indonesia ($3,460 per ton), while the price for Malaysia ($2,691 per ton) and Thailand ($2,957 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Sauce and Seasoning Exports in Vietnam
In 2022, shipments abroad of sauces and seasonings decreased by -44% to 37K tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 9.7% against the previous year. As a result, the exports attained the peak of 66K tons, and then fell remarkably in the following year.
In value terms, sauce and seasoning exports contracted sharply to $85M in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, the exports reached the peak of $108M, and then fell rapidly in the following year.
| Export of Sauce and Seasoning in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 24.2 | 27.7 | 30.1 | 23.2 | -1.4% |
| United States | 6.8 | 9.5 | 13.7 | 10.5 | 15.6% |
| Philippines | 7.1 | 8.4 | 7.3 | 6.3 | -3.9% |
| Taiwan (Chinese) | 4.8 | 4.7 | 7.5 | 5.8 | 6.5% |
| Russia | 6.6 | 5.9 | 7.5 | 5.8 | -4.2% |
| Cambodia | 3.9 | 5.4 | 6.1 | 4.7 | 6.4% |
| Germany | 2.9 | 4.6 | 5.1 | 3.9 | 10.4% |
| China | 4.6 | 2.8 | 3.9 | 3.1 | -12.3% |
| Thailand | 2.6 | 3.8 | 3.5 | 2.7 | 1.3% |
| Netherlands | 1.6 | 2.4 | 3.1 | 2.4 | 14.5% |
| Australia | 2.1 | 2.6 | 2.9 | 2.3 | 3.1% |
| South Korea | 1.3 | 1.9 | 2.4 | 1.8 | 11.5% |
| Poland | 0.4 | 1.1 | 1.8 | 1.4 | 51.8% |
| Others | 9.9 | 10.7 | 13.3 | 11.0 | 3.6% |
| Total | 78.9 | 91.5 | 108 | 84.8 | 2.4% |
Top Export Markets for Sauce and Seasoning from Vietnam in 2022:
- Japan (9.4K tons)
- United States (4.5K tons)
- Russia (3.3K tons)
- Taiwan (Chinese) (2.6K tons)
- Philippines (2.4K tons)
- Cambodia (2.4K tons)
- Germany (1.7K tons)
- China (1.4K tons)
- Thailand (1.1K tons)
- Australia (1.0K tons)
- Netherlands (1.0K tons)
- South Korea (0.8K tons)
- Poland (0.6K tons)
Sauce and Seasoning Imports in Vietnam
In 2022, imports of sauces and seasonings into Vietnam shrank significantly to 5.9K tons, dropping by -80% on 2021. Overall, imports faced a significant curtailment. The smallest decline of -0.5% was in 2021.
In value terms, sauce and seasoning imports contracted rapidly to $22M in 2022. Over the period under review, imports saw a sharp reduction. The growth pace was the most rapid in 2020 when imports increased by 16%.
| Import of Sauce and Seasoning in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 22.5 | 25.3 | 27.3 | 6.1 | -35.3% |
| China | 11.4 | 14.7 | 13.4 | 3.0 | -35.9% |
| South Korea | 10.6 | 12.4 | 13.1 | 2.9 | -35.1% |
| Japan | 9.7 | 11.7 | 11.6 | 2.6 | -35.5% |
| Malaysia | 10.0 | 10.0 | 10.5 | 2.3 | -38.7% |
| Singapore | 5.7 | 7.7 | 8.4 | 1.9 | -30.7% |
| Philippines | 3.8 | 4.0 | 2.5 | 0.8 | -40.5% |
| Indonesia | 1.8 | 2.8 | 3.4 | 0.8 | -23.7% |
| Italy | 1.0 | 1.5 | 1.8 | 0.4 | -26.3% |
| United States | 1.7 | 1.5 | 1.6 | 0.4 | -38.3% |
| Others | 3.9 | 3.9 | 4.4 | 1.1 | -34.4% |
| Total | 82.3 | 95.5 | 98.0 | 22.3 | -35.3% |
Top Suppliers of Sauce and Seasoning to Vietnam in 2022:
- Thailand (1691.4 tons)
- China (797.8 tons)
- South Korea (709.5 tons)
- Japan (673.1 tons)
- Malaysia (649.0 tons)
- Singapore (436.4 tons)
- Philippines (190.1 tons)
- Indonesia (173.3 tons)
- Italy (168.9 tons)
- United States (121.9 tons)
This report provides an in-depth analysis of the sauce and seasoning market in Vietnam. 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:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- 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.
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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
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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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