Latin America and the Caribbean: Casein And Caseinates Market 2024

Casein And Caseinates Market Size in Latin America and the Caribbean

The Latin American casein and caseinates market expanded to $X in 2022, increasing by 3.8% against the previous year. In general, consumption recorded a mild shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Casein And Caseinates Production in Latin America and the Caribbean

In value terms, casein and caseinates production expanded to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Casein And Caseinates Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of casein and caseinates decreased by -12.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2020 when exports increased by 41% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, casein and caseinates exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2020 when exports increased by 53%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) represented roughly 99% of total exports in 2022.

Argentina was also the fastest-growing in terms of the casein and caseinates exports, with a CAGR of -2.3% from 2012 to 2022. From 2012 to 2022, the share of Argentina increased by +4.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) also remains the largest casein and caseinates supplier in Latin America and the Caribbean.

In Argentina, casein and caseinates exports declined by an average annual rate of -2.9% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with a decrease of -5.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 14%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Argentina.

From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to -0.6% per year.

Casein And Caseinates Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of casein and caseinates were imported in Latin America and the Caribbean; declining by -13.1% against 2021. Over the period under review, imports, however, showed a measured increase. The most prominent rate of growth was recorded in 2019 when imports increased by 441% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, casein and caseinates imports totaled $X in 2022. Overall, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 428% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which recorded 73% of total imports. Brazil (X tons) took the second position in the ranking, followed by El Salvador (X tons). All these countries together took approx. 20% share of total imports. Colombia (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to casein and caseinates imports into Mexico stood at +1.7%. At the same time, Colombia (+38.3%), El Salvador (+30.9%) and Brazil (+6.0%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +38.3% from 2012-2022. From 2012 to 2022, the share of El Salvador, Brazil and Colombia increased by +6.2, +4.1 and +1.8 percentage points, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported casein and caseinates in Latin America and the Caribbean, comprising 74% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by El Salvador, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +4.7%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+9.5% per year) and El Salvador (+38.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 28% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, casein and caseinates import price increased by +85.9% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Brazil ($X per ton) and Mexico ($X per ton), while Colombia ($X per ton) and El Salvador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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