Latin America and the Caribbean: Biological Product Market 2024

Biological Product Market Size in Latin America and the Caribbean

After two years of growth, the Latin American biological product market decreased by X% to $X in 2022. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Biological Product Production in Latin America and the Caribbean

In value terms, biological product production fell slightly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Biological Product Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of biological products were exported in Latin America and the Caribbean; with an increase of X% compared with the year before. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, biological product exports contracted to $X in 2022. In general, exports, however, recorded a slight slump. The pace of growth was the most pronounced in 2020 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Argentina (X tons) was the major exporter of biological products, comprising X% of total exports. Uruguay (X tons) ranks second in terms of the total exports with an X% share, followed by Brazil (X%), Chile (X%) and Paraguay (X%). Nicaragua (X tons) and Mexico (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to biological product exports from Argentina stood at X%. At the same time, Nicaragua (X%), Paraguay (X%), Brazil (X%), Chile (X%) and Uruguay (X%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) illustrated a downward trend over the same period. Argentina (X p.p.), Nicaragua (X p.p.), Paraguay (X p.p.), Brazil (X p.p.) and Chile (X p.p.) significantly strengthened its position in terms of the total exports, while Uruguay and Mexico saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest biological product supplying countries in Latin America and the Caribbean were Mexico ($X), Argentina ($X) and Brazil ($X), with a combined X% share of total exports. Uruguay, Paraguay, Chile and Nicaragua lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Nicaragua, with a CAGR of X%, recorded the highest growth rate of 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

The export price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Biological Product Imports

Imports in Latin America and the Caribbean

In 2022, after four years of growth, there was significant decline in supplies from abroad of biological products, when their volume decreased by X% to X tons. In general, imports saw a mild setback. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, biological product imports shrank remarkably to $X in 2022. Overall, imports, however, saw a slight increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

In 2022, Mexico (X tons) and Colombia (X tons) were the key importers of biological products in Latin America and the Caribbean, together generating X% of total imports. It was distantly followed by Brazil (X tons), Ecuador (X tons), Argentina (X tons) and Chile (X tons), together generating a X% share of total imports. Guatemala (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guatemala (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest biological product importing markets in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Mexico ($X), together accounting for X% of total imports. Colombia, Chile, Ecuador and Guatemala lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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