Colombia: Yoghurt Market 2024

Yoghurt Market Size in Colombia

The Colombian yoghurt market shrank to $X in 2022, which is down by -2.7% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Yoghurt consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Yoghurt Production in Colombia

In value terms, yoghurt production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 25%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Yoghurt Exports

Exports from Colombia

In 2022, overseas shipments of yoghurt decreased by -2.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 211%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced modestly in the following year.

In value terms, yoghurt exports reduced slightly to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 262%. The exports peaked at $X in 2021, and then shrank modestly in the following year.

Exports by Country

The United States (X tons) was the main destination for yoghurt exports from Colombia, accounting for a 64% share of total exports. Moreover, yoghurt exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. Aruba (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-3.8% per year) and Aruba (+15.2% per year).

In value terms, the United States ($X) remains the key foreign market for yoghurt exports from Colombia, comprising 65% of total exports. The second position in the ranking was held by Ecuador ($X), with a 23% share of total exports. It was followed by Aruba, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-2.2% per year) and Aruba (+19.9% per year).

Export Prices by Country

In 2022, the average yoghurt export price amounted to $X per ton, flattening at the previous year. Over the period under review, the export price saw a tangible expansion. The pace of growth was the most pronounced in 2014 an increase of 57%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Aruba ($X per ton), while the average price for exports to Suriname ($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 the United States (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into Colombia

Yoghurt imports into Colombia shrank to X tons in 2022, reducing by -6.5% compared with the previous year. In general, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 815% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, yoghurt imports fell to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 580% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest yoghurt supplier to Colombia, with a 67% share of total imports. Moreover, yoghurt imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Costa Rica (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +56.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+48.8% per year) and Costa Rica (+19.3% per year).

In value terms, the largest yoghurt suppliers to Colombia were Spain ($X), the United States ($X) and Italy ($X), with a combined 96% share of total imports.

The United States, with a CAGR of +52.3%, 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 yoghurt import price stood at $X per ton in 2022, shrinking by -1.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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