Guatemala: Lactose Market 2024

Lactose Market Size in Guatemala

The Guatemalan lactose market stood at $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.2% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Lactose Production in Guatemala

In value terms, lactose production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 26%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Lactose Exports

Exports from Guatemala

In 2022, shipments abroad of lactose and lactose syrup increased by 48% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 324%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, lactose exports skyrocketed to $X in 2022. Over the period under review, exports showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 175% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for lactose exports from Guatemala, with a 36% share of total exports. Moreover, lactose exports to the Dominican Republic exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Cuba (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to the Dominican Republic stood at +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+4.8% per year) and Cuba (+49.3% per year).

In value terms, the largest markets for lactose exported from Guatemala were the Dominican Republic ($X), Nicaragua ($X) and Costa Rica ($X), with a combined 62% share of total exports. Cuba, Honduras, El Salvador and the United States lagged somewhat behind, together comprising a further 36%.

In terms of the main countries of destination, Cuba, with a CAGR of +46.1%, recorded 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 lactose export price amounted to $X per ton, with an increase of 23% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 46% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to the United States ($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 Nicaragua (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports

Imports into Guatemala

After three years of growth, overseas purchases of lactose and lactose syrup decreased by -22.3% to X tons in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 919%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, lactose imports expanded remarkably to $X in 2022. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 457%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of lactose to Guatemala, accounting for a 44% share of total imports. Moreover, lactose imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+5.9% per year) and Germany (+11.5% per year).

In value terms, the largest lactose suppliers to Guatemala were Germany ($X), New Zealand ($X) and the United States ($X), together accounting for 76% of total imports. The Netherlands, Mexico, France and China lagged somewhat behind, together comprising a further 22%.

Mexico, with a CAGR of +58.4%, saw the highest growth rate of 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 lactose import price stood at $X per ton in 2022, jumping by 41% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform