Report Update: May 1, 2024

Venezuela - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights

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Sauce and Seasoning Price in Venezuela - 2022

Sauce and Seasoning Price in Venezuela (CIF) - 2022

The average sauce and seasoning import price stood at $1,427 per ton in 2022, increasing by 8.5% against the previous year. In general, the import price, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 an increase of 31%. Over the period under review, average import prices hit record highs at $3,554 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($2,926 per ton), while the price for Brazil ($1,201 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Sauce and Seasoning Price in Venezuela (FOB) - 2022

The average sauce and seasoning export price stood at $3,967 per ton in 2022, with an increase of 20% against the previous year. Overall, the export price saw prominent growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 121% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($4,190 per ton), while the average price for exports to Peru ($3,753 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+46.9%), while the prices for the other major destinations experienced mixed trend patterns.

Sauce and Seasoning Imports in Venezuela

For the fourth consecutive year, Venezuela recorded growth in overseas purchases of sauces and seasonings, which increased by 41% to 15K tons in 2022. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, sauce and seasoning imports soared to $21M in 2022. In general, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Sauce and Seasoning in Venezuela (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	1.6	3.1	8.5	13.3	102.6%
Colombia	0.1	0.3	0.4	1.7	157.1%
Mexico	1.5	1.2	0.7	1.7	4.3%
United States	1.5	1.4	1.0	1.7	4.3%
China	0.5	2.0	0.8	0.6	6.3%
Chile	1.9	N/A	0.1	0.1	-62.5%
Others	0.9	2.2	2.1	1.8	26.0%
Total	7.9	10.2	13.7	20.8	38.1%

Top Suppliers of Sauce and Seasoning to Venezuela in 2022:

Brazil (11.0K tons)
Colombia (1.1K tons)
United States (0.8K tons)
Mexico (0.6K tons)
China (0.4K tons)
Chile (0.1K tons)

Sauce and Seasoning Exports in Venezuela

Sauce and seasoning exports from Venezuela skyrocketed to 647 tons in 2022, rising by 53% compared with the previous year's figure. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 118%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, sauce and seasoning exports soared to $2.6M in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 166% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Export of Sauce and Seasoning in Venezuela (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Chile	185	109	677	1,111	81.8%
United States	91.4	169	389	930	116.7%
Peru	24.7	201	327	521	176.3%
Others	163	49.4	13.0	6.4	-66.0%
Total	464	528	1,406	2,568	76.9%

Top Export Markets for Sauce and Seasoning from Venezuela in 2022:

Chile (265.1 tons)
United States (242.3 tons)
Peru (138.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the sauce and seasoning market in Venezuela. 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:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. 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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023