Latin America and the Caribbean: Twig Broom Market 2024

Twig Broom Market Size in Latin America and the Caribbean

In 2021, the Latin American twig broom market increased by 3.4% to $X, rising for the third consecutive year after five years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Twig Broom Production in Latin America and the Caribbean

In value terms, twig broom production shrank to $X in 2021 estimated in export price. In general, production recorded a mild decrease. The growth pace was the most rapid in 2020 with an increase of 15% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Twig Broom Exports

Exports in Latin America and the Caribbean

In 2021, twig broom exports in Latin America and the Caribbean shrank markedly to X units, with a decrease of -37.4% compared with the year before. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 66% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, twig broom exports shrank significantly to $X in 2021. Over the period under review, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2016 when exports increased by 15%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico prevails in exports structure, recording X units, which was approx. 84% of total exports in 2021. It was distantly followed by Chile (X units), generating a 4.7% share of total exports. The following exporters - Colombia (X units), El Salvador (X units) and Honduras (X units) - together made up 8.1% of total exports.

Exports from Mexico decreased at an average annual rate of -7.4% from 2012 to 2021. At the same time, Chile (+44.0%), El Salvador (+15.1%) and Colombia (+3.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +44.0% from 2012-2021. Honduras experienced a relatively flat trend pattern. While the share of Chile (+4.6 p.p.), El Salvador (+2.3 p.p.) and Colombia (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-8.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest twig broom supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was taken by Chile ($X), with a 4.9% share of total exports. It was followed by Honduras, with a 1.9% share.

In Mexico, twig broom exports plunged by an average annual rate of -5.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (+28.6% per year) and Honduras (+2.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, growing by 29% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, twig broom export price increased by +36.6% against 2019 indices. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Twig Broom Imports

Imports in Latin America and the Caribbean

In 2021, twig broom imports in Latin America and the Caribbean rose markedly to X units, growing by 14% on 2020 figures. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 63%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, twig broom imports soared to $X in 2021. Total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.1% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Chile represented the main importer of brooms and brushes of twigs in Latin America and the Caribbean, with the volume of imports reaching X units, which was near 47% of total imports in 2021. Peru (X units) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by the Dominican Republic (9.9%). The following importers - Brazil (X units), Ecuador (X units) and Paraguay (X units) - together made up 8.1% of total imports.

From 2012 to 2021, average annual rates of growth with regard to twig broom imports into Chile stood at +18.3%. At the same time, Brazil (+22.5%), Peru (+21.0%) and Ecuador (+6.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +22.5% from 2012-2021. Paraguay and the Dominican Republic experienced a relatively flat trend pattern. From 2012 to 2021, the share of Chile, Peru and Brazil increased by +29, +15 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported brooms and brushes of twigs in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by the Dominican Republic ($X), with a 13% share of total imports. It was followed by Peru, with a 5.6% share.

In Chile, twig broom imports increased at an average annual rate of +17.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (-0.6% per year) and Peru (+5.0% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, growing by 3.9% against the previous year. Overall, the import price, however, showed a noticeable curtailment. The growth pace was the most rapid in 2015 an increase of 9.9%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Paraguay ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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