GCC: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in GCC

The GCC sauce and seasoning market reached $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Sauce And Seasoning Production in GCC

In value terms, sauce and seasoning production rose notably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Sauce And Seasoning Exports

Exports in GCC

In 2023, approx. X tons of sauces and seasonings were exported in GCC; picking up by X% on the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, sauce and seasoning exports expanded modestly to $X in 2023. Total exports indicated a buoyant expansion 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, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Oman (X tons) and the United Arab Emirates (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Saudi Arabia (X tons), committing a X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning supplying countries in GCC were Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for X% of total exports. Kuwait lagged somewhat behind, accounting for a further X%.

In terms of the main exporting countries, Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, waning by X% against the previous year. Export price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sauce and seasoning export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Oman ($X per ton) and Saudi Arabia ($X per ton), while Kuwait ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

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

Sauce And Seasoning Imports

Imports in GCC

In 2023, the amount of sauces and seasonings imported in GCC surged to X tons, growing by X% compared with the previous year. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, sauce and seasoning imports soared to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the key importers of sauces and seasonings in 2023, finishing at near X% and X% of total imports, respectively. Kuwait (X tons) held the next position in the ranking, distantly followed by Oman (X tons), Qatar (X tons) and Bahrain (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (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 GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), together comprising X% of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together comprising a further X%.

Oman, 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

In 2023, the import price in GCC amounted to $X per ton, dropping by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Qatar ($X per ton) and Bahrain ($X per ton), while Oman ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform