Colombia: Potato Chips Market 2024

Potato Chips Market Size in Colombia

The Colombian potato chips market fell to $X in 2022, which is down by -3.4% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.7% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Potato Chips Production in Colombia

In value terms, potato chips production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 28%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Potato Chips Exports

Exports from Colombia

In 2022, the amount of potato chips exported from Colombia shrank notably to X tons, waning by -25.8% against the previous year's figure. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 297%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, potato chips exports dropped rapidly to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 354%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X tons), the United States (X tons) and Venezuela (X tons) were the main destinations of potato chips exports from Colombia, with a combined 84% share of total exports. Chile and Spain lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +78.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X), the United States ($X) and Venezuela ($X) constituted the largest markets for potato chips exported from Colombia worldwide, together comprising 78% of total exports. Chile and Spain lagged somewhat behind, together comprising a further 16%.

In terms of the main countries of destination, Chile, with a CAGR of +82.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average potato chips export price amounted to $X per ton, rising by 4.1% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 15% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Chips Imports

Imports into Colombia

In 2022, potato chips imports into Colombia shrank to X tons, dropping by -14.3% against 2021. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 155% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, potato chips imports fell to $X in 2022. In general, imports, however, saw a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 212% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of potato chips to Colombia, accounting for a 87% share of total imports. Moreover, potato chips imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold. Canada (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+68.0% per year) and Canada (+7.8% per year).

In value terms, the United States ($X) constituted the largest supplier of potato chips to Colombia, comprising 88% of total imports. The second position in the ranking was held by Canada ($X), with a 5.4% share of total imports. It was followed by Mexico, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+10.9% per year) and Mexico (+87.6% per year).

Import Prices by Country

The average potato chips import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 29%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+52.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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