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Southeast Asia has a tropical rainforest climate, and the types and species of plants grown there differ greatly from those in other parts of the world, giving rise to a wide range of Southeast Asian-style seasonings, with chili, basil, turmeric, lemongrass and pepper being the main ingredients for seasonings in Southeast Asia. With the development of the global food and beverage industry, people's culinary enthusiasm has increased and the demand for seasonings has gradually expanded.
Southeast Asia seasoning industry in different countries there are some differences in the development of the situation. For example, Thailand has a large seasoning industry. In 2021, Thailand became the world's fourth largest and Southeast Asia's largest seasoning exporter, with US$949 million of seasoning exports, up 12% year-on-year. The growth of seasonings such as chili sauce, soybean paste and fish sauce is significant.
The seasoning industry in Vietnam is still in the development stage and has great potential for growth. With a large population, Vietnam prefers to use a lot of seasonings when cooking, and the demand for seasonings is gradually expanding. At the same time, agriculture and fishery are one of the traditional industries in Vietnam, and the production, consumption and export of seasonings have a bright future, attracting multinational companies such as Unilever, Ajinomoto and Nestle to enter the Vietnamese market and launch seasoning products.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
CRI expects the market size of Southeast Asia seasoning industry will continue to grow from 2023-2032.
Topics covered:
Southeast Asia Seasoning Industry Status and Major Sources in 2018-2022
What is the Impact of COVID-19 on Southeast Asia Seasoning Industry?
Which Companies are the Major Players in Southeast Asia Seasoning Industry Market and What are their Competitive Benchmarks?
Key Drivers and Market Opportunities in Southeast Asia Seasoning Industry
What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Seasoning Industry during 2023-2032?
What is the Expected Revenue of Southeast Asia Seasoning Industry during 2023-2032?
What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
What are the Competitive Advantages of the Major Players in Southeast Asia Seasoning Industry Market?
Which Segment of Southeast Asia Seasoning Industry is Expected to Dominate the Market in 2032?
What are the Major Adverse Factors Facing Southeast Asia Seasoning Industry?