Serbia - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSauce and Seasoning Price in Serbia - 2023
Contents:
- Sauce and Seasoning Price in Serbia (FOB) - 2023
- Sauce and Seasoning Price in Serbia (CIF) - 2023
- Sauce and Seasoning Exports in Serbia
- Sauce and Seasoning Imports in Serbia
Sauce and Seasoning Price in Serbia (FOB) - 2023
The average sauce and seasoning export price stood at $1,651 per ton in November 2023, dropping by -35.5% against the previous month. In general, the export price recorded a noticeable reduction. The pace of growth appeared the most rapid in May 2023 when the average export price increased by 7.3% month-to-month. As a result, the export price reached the peak level of $2,631 per ton. From June 2023 to November 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In November 2023, the country with the highest price was Switzerland ($2,534 per ton), while the average price for exports to the Czech Republic ($1,202 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.
Sauce and Seasoning Price in Serbia (CIF) - 2023
In November 2023, the average sauce and seasoning import price amounted to $1,440 per ton, declining by -46.5% against the previous month. Overall, the import price continues to indicate a pronounced downturn. The growth pace was the most rapid in January 2023 an increase of 22% m-o-m. The import price peaked at $2,858 per ton in July 2023; however, from August 2023 to November 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($3,138 per ton), while the price for China ($757 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Sauce and Seasoning Exports in Serbia
For the fourth year in a row, Serbia recorded growth in shipments abroad of sauces and seasonings, which increased by 1.3% to 22K tons in 2022. The total export volume increased at an average annual rate of +9.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 20%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, sauce and seasoning exports rose notably to $46M in 2022. Over the period under review, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +17.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.
| Export of Sauce and Seasoning in Serbia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | 10.0 | 10.8 | 12.1 | 13.0 | 9.1% |
| Croatia | 3.5 | 4.3 | 6.8 | 7.7 | 30.1% |
| Montenegro | 6.1 | 5.4 | 6.9 | 7.2 | 5.7% |
| North Macedonia | 5.0 | 5.5 | 6.5 | 7.0 | 11.9% |
| Switzerland | 0.1 | 0.2 | 1.2 | 2.3 | 184.4% |
| Somalia | 1.0 | 1.4 | 1.8 | 1.7 | 19.3% |
| Albania | 0.3 | 0.3 | 0.3 | 0.5 | 18.6% |
| Slovakia | 0.1 | 0.1 | 0.2 | 0.5 | 71.0% |
| Others | 2.6 | 3.5 | 6.8 | 6.5 | 35.7% |
| Total | 28.7 | 31.4 | 42.8 | 46.5 | 17.5% |
Top Export Markets for Sauce and Seasoning from Serbia in 2022:
- Bosnia and Herzegovina (6.0K tons)
- North Macedonia (3.8K tons)
- Montenegro (3.6K tons)
- Croatia (3.4K tons)
- Somalia (1.0K tons)
- Switzerland (0.8K tons)
- Slovakia (0.7K tons)
- Albania (0.3K tons)
Sauce and Seasoning Imports in Serbia
Sauce and seasoning imports into Serbia soared to 10K tons in 2022, picking up by 20% compared with the previous year's figure. Overall, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.9% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 30%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, sauce and seasoning imports rose notably to $22M in 2022. The total import value increased at an average annual rate of +13.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Sauce and Seasoning in Serbia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Croatia | 0.7 | 1.6 | 2.2 | 3.5 | 71.0% |
| Germany | 2.0 | 2.5 | 3.5 | 3.2 | 17.0% |
| Italy | 1.5 | 2.0 | 2.4 | 2.4 | 17.0% |
| Poland | 1.4 | 2.0 | 2.2 | 2.1 | 14.5% |
| United Kingdom | 1.2 | 1.5 | 1.6 | 1.8 | 14.5% |
| Netherlands | 0.9 | 1.1 | 1.2 | 1.6 | 21.1% |
| Slovenia | 0.5 | 0.7 | 0.7 | 1.4 | 40.9% |
| Bosnia and Herzegovina | 0.5 | 0.8 | 1.1 | 1.4 | 40.9% |
| Czech Republic | 0.6 | 0.6 | 0.6 | 0.8 | 10.1% |
| Austria | 2.2 | 2.2 | 1.3 | 0.7 | -31.7% |
| China | 0.1 | 0.2 | 0.3 | 0.5 | 71.0% |
| Hungary | 0.6 | 0.6 | 0.6 | 0.5 | -5.9% |
| Indonesia | 1.0 | 1.4 | 0.1 | N/A | -68.4% |
| Others | 1.5 | 1.3 | 2.2 | 1.9 | 8.2% |
| Total | 14.8 | 18.3 | 20.0 | 21.8 | 13.8% |
Top Suppliers of Sauce and Seasoning to Serbia in 2022:
- Croatia (2474.9 tons)
- Bosnia and Herzegovina (1801.6 tons)
- Poland (1276.3 tons)
- Germany (1008.8 tons)
- Netherlands (724.5 tons)
- Italy (671.6 tons)
- China (469.6 tons)
- United Kingdom (464.9 tons)
- Czech Republic (348.4 tons)
- Slovenia (300.4 tons)
- Hungary (143.8 tons)
- Austria (124.4 tons)
- Indonesia (10.0 tons)
This report provides an in-depth analysis of the sauce and seasoning market in Serbia. 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:
- Serbia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Serbia
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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