Vietnam: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Vietnam

The Vietnamese market for mixed condiments, sauses and seasonings dropped slightly to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, recorded tangible growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Vietnam

In value terms, mixed condiment, sause and seasoning production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed pronounced growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Vietnam

In 2022, exports of mixed condiments, sauses and seasonings from Vietnam expanded markedly to X tons, increasing by X% compared with the previous year's figure. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, mixed condiment, sause and seasoning exports expanded notably to $X in 2022. Over the period under review, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons) was the main destination for mixed condiment, sause and seasoning exports from Vietnam, with a X% share of total exports. Moreover, mixed condiment, sause and seasoning exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), threefold. The Philippines (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).

In value terms, Japan ($X) remains the key foreign market for mixed condiments, sauses and seasonings exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by the Philippines, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Russia ($X per ton), while the average price for exports to Thailand ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in overseas purchases of mixed condiments, sauses and seasonings, when their volume increased by X% to X tons. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, mixed condiment, sause and seasoning imports skyrocketed to $X in 2022. Overall, imports showed a strong increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Thailand (X tons), China (X tons) and South Korea (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Vietnam, together comprising X% of total imports.

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

In value terms, Thailand ($X), China ($X) and South Korea ($X) were the largest mixed condiment, sause and seasoning suppliers to Vietnam, together accounting for X% of total imports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for mixed condiments, sauses and seasonings amounted to $X per ton, flattening at the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Philippines ($X per ton) and Indonesia ($X per ton), while the price for Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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