Colombia: Organ Extracts Market 2024

Organ Extracts Market Size in Colombia

The Colombian organ extracts market surged to $X in 2021, rising by 88% against the previous year. Over the period under review, consumption posted a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Organ Extracts Production in Colombia

In value terms, organ extracts production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 with an increase of 4.6% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Organ Extracts Exports

Exports from Colombia

Organ extracts exports from Colombia stood at X tons in 2021, flattening at the previous year's figure. The total export volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 7.7%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, organ extracts exports contracted remarkably to $X in 2021. Overall, exports, however, showed a deep downturn. The pace of growth was the most pronounced in 2015 when exports increased by 13% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for organ extracts exports from Colombia, accounting for a 41% share of total exports. Moreover, organ extracts exports to Spain exceeded the volume sent to the second major destination, Mexico (X kg), sixfold. Canada (X kg) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +59.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-6.1% per year) and Canada (-19.2% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for extracts of glands or other organs or of their secretions exports from Colombia, comprising 90% of total exports. The second position in the ranking was held by Spain ($X), with a 0.9% share of total exports. It was followed by Mexico, with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+53.1% per year) and Mexico (-42.3% per year).

Export Prices by Country

The average organ extracts export price stood at $X per ton in 2021, waning by -28.3% against the previous year. Over the period under review, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 5%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Canada ($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 Spain (-3.7%), while the prices for the other major destinations experienced a decline.

Organ Extracts Imports

Imports into Colombia

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were imported into Colombia; jumping by 176% on 2020 figures. Over the period under review, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, organ extracts imports soared to $X in 2021. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 148% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of organ extracts to Colombia, accounting for a 40% share of total imports. Moreover, organ extracts imports from Mexico exceeded the figures recorded by the second-largest supplier, Argentina (X kg), twofold. The third position in this ranking was held by Italy (X kg), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico amounted to +72.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+46.1% per year) and Italy (+35.1% per year).

In value terms, Italy ($X) constituted the largest supplier of extracts of glands or other organs or of their secretions to Colombia, comprising 92% of total imports. The second position in the ranking was taken by Argentina ($X), with a 3.2% share of total imports. It was followed by Mexico, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+34.1% per year) and Mexico (+56.7% per year).

Import Prices by Country

In 2021, the average organ extracts import price amounted to $X per ton, shrinking by -29.5% against the previous year. Over the period under review, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 91%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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 Italy ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+188.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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