Australia: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Australia

The Australian sauce and seasoning market reduced to $X in 2023, which is down by X% against the previous year. Overall, consumption showed a pronounced setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Sauce And Seasoning Production in Australia

In value terms, sauce and seasoning production declined modestly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Australia

In 2023, shipments abroad of sauces and seasonings decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2022, and then reduced in the following year.

In value terms, sauce and seasoning exports rose to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

New Zealand (X tons) was the main destination for sauce and seasoning exports from Australia, with a X% share of total exports. Moreover, sauce and seasoning exports to New Zealand exceeded the volume sent to the second major destination, Japan (X tons), threefold. China (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to New Zealand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

In value terms, the largest markets for sauce and seasoning exported from Australia were New Zealand ($X), Japan ($X) and the United States ($X), together comprising X% of total exports. Papua New Guinea, China, Singapore, Thailand, Hong Kong SAR, Malaysia and the Philippines lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average sauce and seasoning export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Australia

Sauce and seasoning imports into Australia reduced notably to X tons in 2023, falling by X% compared with the year before. Overall, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, sauce and seasoning imports reduced to $X in 2023. Over the period under review, total imports indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then shrank slightly in the following year.

Imports by Country

Thailand (X tons), New Zealand (X tons) and the United States (X tons) were the main suppliers of sauce and seasoning imports to Australia, together comprising X% of total imports. China, Italy, Japan, the UK, Hong Kong SAR, the Netherlands, Singapore, South Korea, Malaysia and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning suppliers to Australia were Thailand ($X), New Zealand ($X) and Italy ($X), together accounting for X% of total imports. China, the United States, Japan, the UK, Hong Kong SAR, Singapore, Malaysia, South Korea, Spain and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the import price enjoyed resilient growth. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform