Latin America and the Caribbean: Chicory Market 2025

Chicory Market Size in Latin America and the Caribbean

The Latin American chicory market skyrocketed to $X in 2022, jumping by 17% against the previous year. In general, consumption saw a noticeable shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Chicory Production in Latin America and the Caribbean

In value terms, chicory production soared to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 93% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Puerto Rico (X tons) constituted the country with the largest volume of chicory production, accounting for 84% of total volume. Moreover, chicory production in Puerto Rico exceeded the figures recorded by the second-largest producer, Haiti (X tons), tenfold.

In Puerto Rico, chicory production contracted by an average annual rate of -4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Haiti (0.0% per year) and Mexico (+0.9% per year).

In 2022, the average chicory yield in Latin America and the Caribbean declined slightly to X tons per ha, standing approx. at 2021. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 3.1%. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the chicory yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of chicory were harvested in Latin America and the Caribbean; therefore, remained relatively stable against the previous year. In general, the harvested area, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Chicory Exports

Exports in Latin America and the Caribbean

Chicory exports soared to X tons in 2022, increasing by 81,170% compared with 2021 figures. Over the period under review, exports saw a significant expansion. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, chicory exports surged to $X in 2022. Overall, exports recorded a significant expansion. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Mexico (X tons), together accounting for 100% of total export.

Mexico was also the fastest-growing in terms of the chicory exports, with a CAGR of +130.6% from 2012 to 2022. Mexico (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In Mexico, chicory exports increased at an average annual rate of +137.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 304% against the previous year. Over the period under review, the export price, however, continues to indicate a deep setback. The pace of growth was the most pronounced in 2020 when the export price increased by 330%. 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 failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Mexico amounted to +3.2% per year.

Chicory Imports

Imports in Latin America and the Caribbean

Chicory imports fell dramatically to X tons in 2022, waning by -25.9% on the previous year. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 188,380%. The volume of import peaked at X tons in 2021, and then contracted dramatically in the following year.

In value terms, chicory imports shrank rapidly to $X in 2022. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 203,790% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank sharply in the following year.

Imports by Country

Argentina was the main importing country with an import of around X tons, which recorded 63% of total imports. Uruguay (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Costa Rica (16%).

Argentina was also the fastest-growing in terms of the chicory imports, with a CAGR of +93.4% from 2012 to 2022. At the same time, Uruguay (+15.5%) displayed positive paces of growth. By contrast, Costa Rica (-4.7%) illustrated a downward trend over the same period. Uruguay (+21 p.p.), Costa Rica (+16 p.p.) and Argentina (+15 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) constitutes the largest market for imported chicory in Latin America and the Caribbean, comprising 74% of total imports. The second position in the ranking was held by Uruguay ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Argentina stood at +79.0%. The remaining importing countries recorded the following average annual rates of imports growth: Uruguay (+13.3% per year) and Costa Rica (-25.0% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 6.6% against the previous year. Over the period under review, the import price, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 when the import price increased by 901%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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