Latin America and the Caribbean: Dairy Machinery Market 2024

Dairy Machinery Market Size in Latin America and the Caribbean

The Latin American dairy machinery market reached $X in 2022, leveling off at the previous year. The total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.1% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Dairy Machinery Production in Latin America and the Caribbean

In value terms, dairy machinery production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded moderate growth. The pace of growth appeared the most rapid in 2017 with an increase of 53%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of dairy machinery increased by 8.3% to X units in 2022. In general, exports, however, recorded a precipitous descent. The most prominent rate of growth was recorded in 2019 with an increase of 38% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports declined modestly to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 94% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil dominates exports structure, amounting to X units, which was near 61% of total exports in 2022. Colombia (X units) held a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by Bolivia (7.3%) and Guatemala (4.8%). The following exporters - Mexico (X units), Chile (X units) and El Salvador (X units) - together made up 8.3% of total exports.

From 2012 to 2022, average annual rates of growth with regard to dairy machinery exports from Brazil stood at -1.1%. At the same time, Chile (+7.2%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +7.2% from 2012-2022. Bolivia experienced a relatively flat trend pattern. By contrast, Mexico (-1.6%), El Salvador (-4.0%), Colombia (-6.1%) and Guatemala (-15.7%) illustrated a downward trend over the same period. Brazil (+56 p.p.), Colombia (+7.7 p.p.), Bolivia (+7.3 p.p.), Mexico (+3.5 p.p.), Guatemala (+2.6 p.p.), Chile (+2.3 p.p.) and El Salvador (+1.8 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 value terms, Brazil ($X) emerged as the largest dairy machinery supplier in Latin America and the Caribbean, comprising 45% of total exports. The second position in the ranking was taken by Colombia ($X), with a 19% share of total exports. It was followed by Bolivia, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled -6.3%. In the other countries, the average annual rates were as follows: Colombia (-2.5% per year) and Bolivia (+227.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, dropping by -10.3% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy machinery export price decreased by -39.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 55%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.8%), while the other leaders experienced more modest paces of growth.

Dairy Machinery Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of dairy machinery increased by 12% to X units for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 56%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, dairy machinery imports rose notably to $X in 2022. In general, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Chile (X units), followed by Ecuador (X units), Brazil (X units), Guatemala (X units), Panama (X units), Mexico (X units) and Uruguay (X units) represented the key importers of dairy machinery, together generating 68% of total imports. Peru (X units), Nicaragua (X units), Colombia (X units), Argentina (X units), Honduras (X units) and Paraguay (X units) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +24.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Brazil ($X) and Ecuador ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 49% of total imports. Argentina, Mexico, Guatemala, Peru, Uruguay, Colombia, Nicaragua, Panama, Honduras and Paraguay lagged somewhat behind, together comprising a further 42%.

Guatemala, with a CAGR of +38.9%, saw the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, falling by -5.3% against the previous year. Over the period under review, the import price saw a noticeable decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by 6.2%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per unit), while Panama ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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