Latin America and the Caribbean: Caramel Market 2024

Caramel Market Size in Latin America and the Caribbean

The Latin American caramel market dropped to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Caramel Production in Latin America and the Caribbean

In value terms, caramel production contracted to $X in 2022 estimated in export price. The total production indicated a moderate expansion 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 most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Caramel Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of caramel, which increased by X% to X tons in 2022. In general, exports enjoyed resilient growth. The growth pace was the most rapid in 2014 when exports increased by X%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, caramel exports soared to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Nicaragua (X tons) was the largest exporter of caramel, creating X% of total exports. Argentina (X tons) ranks second in terms of the total exports with an X% share, followed by Brazil (X%) and Chile (X%). Colombia (X tons) followed a long way behind the leaders.

Exports from Nicaragua increased at an average annual rate of X% from 2012 to 2022. At the same time, Colombia (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Brazil experienced a relatively flat trend pattern. By contrast, Chile (X%) illustrated a downward trend over the same period. While the share of Nicaragua (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (X p.p.), Chile (X p.p.) and Brazil (X p.p.) displayed negative dynamics.

In value terms, Nicaragua ($X), Argentina ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Brazil and Colombia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Colombia, with a CAGR of X%, saw 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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

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

Caramel Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of caramel decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, caramel imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Mexico (X tons) and Chile (X tons) were the major importers of caramel in 2022, accounting for near X% and X% of total imports, respectively. It was distantly followed by Peru (X tons), Colombia (X tons), Costa Rica (X tons) and Argentina (X tons), together comprising a X% share of total imports. The following importers - Brazil (X tons), Bolivia (X tons), Jamaica (X tons), the Dominican Republic (X tons), Uruguay (X tons) and Guatemala (X tons) - together made up X% 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 Uruguay (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Colombia, Brazil, Argentina, Costa Rica, the Dominican Republic, Bolivia, Guatemala, Jamaica and Uruguay lagged somewhat behind, together accounting for a further X%.

Uruguay, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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

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

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Uruguay ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform