Asia-Pacific: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Asia-Pacific

The Asia-Pacific sauce and seasoning market rose to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sauce And Seasoning Production in Asia-Pacific

In value terms, sauce and seasoning production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Sauce And Seasoning Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of sauces and seasonings, which increased by X% to X tons in 2022. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sauce and seasoning exports rose to $X in 2022. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the key exporter of sauces and seasonings, creating X% of total exports. Thailand (X tons) held the second position in the ranking, distantly followed by Japan (X tons) and South Korea (X tons). All these countries together held approx. X% share of total exports. Hong Kong SAR (X tons), Malaysia (X tons), Indonesia (X tons), the Philippines (X tons), Singapore (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), India (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest sauce and seasoning supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

In China, sauce and seasoning exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports in Asia-Pacific

In 2022, the amount of sauces and seasonings imported in Asia-Pacific was estimated at X tons, increasing by X% compared with 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 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 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, sauce and seasoning imports expanded significantly to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Australia (X tons), Hong Kong SAR (X tons), South Korea (X tons), Japan (X tons), the Philippines (X tons), Malaysia (X tons), China (X tons), Singapore (X tons), Indonesia (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and New Zealand (X tons) represented the major importer of sauces and seasonings in Asia-Pacific, achieving X% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning importing markets in Asia-Pacific were Australia ($X), Hong Kong SAR ($X) and Japan ($X), with a combined X% share of total imports. South Korea, the Philippines, China, Malaysia, Singapore, Taiwan (Chinese), New Zealand, Indonesia and Thailand lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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