Colombia: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Colombia

The Colombian food manufacture machinery market totaled $X in 2021, growing by 2.9% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Food Manufacture Machinery Production in Colombia

In value terms, food manufacture machinery production expanded slightly to $X in 2021 estimated in export price. In general, the total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 55%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Food Manufacture Machinery Exports

Exports from Colombia

In 2021, overseas shipments of machinery for the preparation or manufacture of food or drink were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, food manufacture machinery exports soared to $X in 2021. In general, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X units), Guatemala (X units) and Nicaragua (X units) were the main destinations of food manufacture machinery exports from Colombia, together accounting for 77% of total exports.

From 2012 to 2021, the biggest increases were recorded for Nicaragua (with a CAGR of +129.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Honduras ($X) and the United States ($X) were the largest markets for food manufacture machinery exported from Colombia worldwide, together comprising 38% of total exports. These countries were followed by Kenya, Peru, Nicaragua, El Salvador, Panama, Mexico and Bolivia, which together accounted for a further 28%.

Nicaragua, with a CAGR of +59.5%, 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 food manufacture machinery export price stood at $X per unit in 2021, growing by 2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Kenya ($X per unit), while the average price for exports to Nicaragua ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+39.5%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Colombia

In 2021, imports of machinery for the preparation or manufacture of food or drink into Colombia dropped modestly to X units, with a decrease of -3.6% against 2020. Over the period under review, imports, however, saw temperate growth. The pace of growth appeared the most rapid in 2017 with an increase of 88% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, food manufacture machinery imports rose to $X in 2021. In general, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when imports increased by 95%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of food manufacture machinery to Colombia, accounting for a 60% share of total imports. Moreover, food manufacture machinery imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), threefold. Australia (X units) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.9% per year) and Australia (-52.2% per year).

In value terms, Brazil ($X), Australia ($X) and China ($X) were the largest food manufacture machinery suppliers to Colombia, together accounting for 72% of total imports.

Australia, with a CAGR of +372.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average food manufacture machinery import price stood at $X per unit in 2021, increasing by 6.2% against the previous year. In general, the import price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2018 when the average import price increased by 119%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+25.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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