Chile: Coffee Extract Market 2024

Coffee Extract Market Size in Chile

In 2021, the Chilean coffee extract market decreased by -4% to $X for the first time since 2011, thus ending a nine-year rising trend. In general, consumption, however, posted strong growth. Coffee extract consumption peaked at $X in 2020, and then reduced slightly in the following year.

Coffee Extract Production in Chile

In value terms, coffee extract production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 20% against the previous year. Coffee extract production peaked at $X in 2020, and then dropped in the following year.

Coffee Extract Exports

Exports from Chile

In 2021, approx. X tons of coffee extracts, essences and concentrates were exported from Chile; falling by -15.8% compared with the year before. Overall, exports saw a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 41%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, coffee extract exports fell notably to $X in 2021. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 27%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X tons), Argentina (X tons) and Malaysia (X tons) were the main destinations of coffee extract exports from Chile, together comprising 67% of total exports. These countries were followed by Peru, Canada, Venezuela, Ecuador, Bolivia and Panama, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Venezuela (with a CAGR of +137.4%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Argentina ($X) and Canada ($X) constituted the largest markets for coffee extract exported from Chile worldwide, with a combined 65% share of total exports.

Canada, with a CAGR of +108.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coffee extract export price stood at $X per ton in 2021, with a decrease of -13.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Venezuela ($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 Peru (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into Chile

In 2021, the amount of coffee extracts, essences and concentrates imported into Chile surged to X tons, rising by 45% compared with 2020. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 46%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, coffee extract imports soared to $X in 2021. Overall, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of coffee extract to Chile, with a 43% share of total imports. Moreover, coffee extract imports from Brazil exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+6.1% per year) and South Korea (+66.5% per year).

In value terms, Brazil ($X), South Korea ($X) and Colombia ($X) were the largest coffee extract suppliers to Chile, with a combined 72% share of total imports. These countries were followed by the UK, France, Vietnam, Germany, Italy, the United States and Mexico, which together accounted for a further 23%.

Vietnam, with a CAGR of +152.0%, saw the highest rates of growth with regard to 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

The average coffee extract import price stood at $X per ton in 2021, picking up by 13% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, 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 ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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