Ecuador: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Ecuador

In 2021, the Ecuadorian market for colouring matter of vegetable or animal origin increased by 22% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Colouring Matter Of Vegetable Or Animal Origin in Ecuador

In value terms, vegetable or animal colouring matter production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Ecuador

In 2021, after two years of decline, there was significant growth in shipments abroad of colouring matter of vegetable or animal origin, when their volume increased by 8.4% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 29%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports rose rapidly to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 36% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), China (X tons) and Japan (X tons) were the main destinations of vegetable or animal colouring matter exports from Ecuador, with a combined 42% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +76.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable or animal colouring matter exported from Ecuador were Japan ($X), Germany ($X) and China ($X), together accounting for 46% of total exports.

China, with a CAGR of +50.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, growing by 4.5% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 9.4% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+18.6%), while the prices for the other major destinations experienced a decline.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Ecuador

For the third year in a row, Ecuador recorded growth in overseas purchases of colouring matter of vegetable or animal origin, which increased by 3.9% to X tons in 2021. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 59%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, vegetable or animal colouring matter imports amounted to $X in 2021. Over the period under review, imports saw a measured increase. The most prominent rate of growth was recorded in 2020 when imports increased by 56% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vegetable or animal colouring matter to Ecuador, with a 51% share of total imports. Moreover, vegetable or animal colouring matter imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Peru (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +39.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.8% per year) and Peru (-3.7% per year).

In value terms, China ($X), Peru ($X) and South Korea ($X) appeared to be the largest vegetable or animal colouring matter suppliers to Ecuador, together accounting for 81% of total imports. The United States, Mexico and Colombia lagged somewhat behind, together accounting for a further 10%.

Among the main suppliers, Colombia, with a CAGR of +50.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, waning by -2.8% against the previous year. Over the period under review, the import price showed a abrupt slump. The growth pace was the most rapid in 2016 an increase of 18%. The import price peaked at $X per ton 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, 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 Mexico (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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