Latin America and the Caribbean: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Latin America and the Caribbean

In 2021, the Latin American market for colouring matter of vegetable or animal origin was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Latin America and the Caribbean

In value terms, vegetable or animal colouring matter production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 16%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in Latin America and the Caribbean

In 2021, exports of colouring matter of vegetable or animal origin in Latin America and the Caribbean fell to X tons, waning by -9.4% against 2020 figures. Overall, exports saw a noticeable setback. The pace of growth was the most pronounced in 2020 with an increase of 18% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports fell markedly to $X in 2021. In general, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2018 when exports increased by 28% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Peru (X tons) and Mexico (X tons) represented the major exporters of colouring matter of vegetable or animal origin in Latin America and the Caribbean, together resulting at near 74% of total exports. It was distantly followed by Brazil (X tons), committing a 16% share of total exports. The following exporters - Guatemala (X tons) and Ecuador (X tons) - each resulted at a 5.8% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +3.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) remains the largest vegetable or animal colouring matter supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was held by Mexico ($X), with a 20% share of total exports. It was followed by Brazil, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Peru amounted to -6.3%. In the other countries, the average annual rates were as follows: Mexico (+0.3% per year) and Brazil (-5.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -22.7% against the previous year. In general, the export price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2017 when the export price increased by 19% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, 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 Ecuador ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in Latin America and the Caribbean

After three years of growth, supplies from abroad of colouring matter of vegetable or animal origin decreased by -9.4% to X tons in 2021. Total imports indicated a modest increase from 2012 to 2021: its volume 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, imports increased by +44.5% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 28% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, vegetable or animal colouring matter imports contracted to $X in 2021. Total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% 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 +34.1% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 40% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Colombia (X tons), Guatemala (X tons), Ecuador (X tons) and El Salvador (X tons) represented the key importers of colouring matter of vegetable or animal origin, together achieving 77% of total imports. Peru (X tons), Brazil (X tons), Argentina (X tons), the Dominican Republic (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported colouring matter of vegetable or animal origin in Latin America and the Caribbean, comprising 56% of total imports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total imports. It was followed by Brazil, with an 8.2% share.

In Mexico, vegetable or animal colouring matter imports increased at an average annual rate of +3.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (+18.9% per year) and Brazil (-2.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 19% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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