Brazil: Soups Market 2024

Soups Market Size in Brazil

The Brazilian soups market contracted slightly to $X in 2021, declining by -2.3% against the previous year. Overall, consumption, however, showed a pronounced contraction. Soups consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Soups Production in Brazil

In value terms, soups production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 14%. Soups production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Soups Exports

Exports from Brazil

In 2021, shipments abroad of soups and broths increased by 30% to X tons, rising for the second year in a row after three years of decline. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 81%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, soups exports surged to $X in 2021. Over the period under review, exports recorded a mild expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 96%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Argentina (X tons) was the main destination for soups exports from Brazil, accounting for a 65% share of total exports. Moreover, soups exports to Argentina exceeded the volume sent to the second major destination, Mexico (X tons), fourfold. Uruguay (X tons) ranked third in terms of total exports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+32.9% per year) and Uruguay (-0.8% per year).

In value terms, Argentina ($X), Mexico ($X) and Uruguay ($X) were the largest markets for soups exported from Brazil worldwide, with a combined 86% share of total exports.

Mexico, with a CAGR of +26.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average soups export price amounted to $X per ton, reducing by -11.2% against the previous year. In general, the export price showed a perceptible decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 18%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (-3.1%), while the prices for the other major destinations experienced a decline.

Soups Imports

Imports into Brazil

In 2021, the amount of soups and broths imported into Brazil fell to X tons, declining by -13.6% on the previous year's figure. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, soups imports reduced to $X in 2021. Over the period under review, imports showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 49%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of soups to Brazil, with a 53% share of total imports. Moreover, soups imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. China (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.3% per year) and China (+21.1% per year).

In value terms, Japan ($X), the United States ($X) and China ($X) were the largest soups suppliers to Brazil, with a combined 89% share of total imports.

China, with a CAGR of +27.3%, saw the highest growth rate of the value of imports, in terms of 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 2021, the average soups import price amounted to $X per ton, growing by 6% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soups import price decreased by -3.0% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 30%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+45.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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