Latin America and the Caribbean: Artificial Fur Market 2024

Artificial Fur Market Size in Latin America and the Caribbean

The Latin American artificial fur market shrank significantly to $X in 2022, dropping by -60.1% against the previous year. Over the period under review, consumption showed a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Artificial Fur Production in Latin America and the Caribbean

In value terms, artificial fur production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Artificial Fur Exports

Exports in Latin America and the Caribbean

Artificial fur exports skyrocketed to X tons in 2022, growing by 217% on 2021. Over the period under review, exports saw a buoyant expansion. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, artificial fur exports surged to $X in 2022. Overall, exports, however, showed a mild decrease. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X tons) represented the major exporter of artificial fur, comprising 77% of total exports. It was distantly followed by Peru (X tons) and Uruguay (X tons), together making up a 16% share of total exports. The following exporters - Panama (X kg) and Colombia (X kg) - each accounted for a 4.1% share of total exports.

Brazil was also the fastest-growing in terms of the artificial fur exports, with a CAGR of +40.4% from 2012 to 2022. At the same time, Uruguay (+27.0%), Peru (+15.7%) and Colombia (+13.1%) displayed positive paces of growth. By contrast, Panama (-21.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Peru and Uruguay increased by +73, +7.3 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) emerged as the largest artificial fur supplier in Latin America and the Caribbean, comprising 73% of total exports. The second position in the ranking was held by Uruguay ($X), with a 10% share of total exports. It was followed by Peru, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to +17.4%. In the other countries, the average annual rates were as follows: Uruguay (+14.3% per year) and Peru (+16.1% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 6.1% against the previous year. Overall, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2019 an increase of 42% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+0.4%), while the other leaders experienced a decline in the export price figures.

Artificial Fur Imports

Imports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in supplies from abroad of artificial fur, which increased by 64% to X tons in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 112%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, artificial fur imports surged to $X in 2022. Overall, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 126%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which amounted to 60% of total imports. Argentina (X tons) held the second position in the ranking, distantly followed by Chile (X tons). All these countries together took approx. 28% share of total imports. The following importers - Nicaragua (X tons), the Dominican Republic (X tons) and Brazil (X tons) - each reached a 5.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to artificial fur imports into Mexico stood at -2.3%. At the same time, the Dominican Republic (+47.9%), Argentina (+36.2%), Nicaragua (+27.0%) and Chile (+15.5%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +47.9% from 2012-2022. By contrast, Brazil (-13.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina, Chile, Nicaragua and the Dominican Republic increased by +18, +6.5, +1.9 and +1.8 percentage points, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported artificial fur in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was held by Argentina ($X), with an 18% share of total imports. It was followed by Chile, with a 6.8% share.

In Mexico, artificial fur imports declined by an average annual rate of -3.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+18.2% per year) and Chile (+8.1% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, declining by -13.5% against the previous year. Overall, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2015 an increase of 57% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

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 Brazil ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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