Latin America and the Caribbean: Organ Extracts Market 2024

Organ Extracts Market Size in Latin America and the Caribbean

The Latin American organ extracts market dropped slightly to $X in 2021, which is down by -3.3% against the previous year. The market value increased at an average annual rate of +1.7% 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 attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Organ Extracts Production in Latin America and the Caribbean

In value terms, organ extracts production dropped slightly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 30% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Organ Extracts Exports

Exports in Latin America and the Caribbean

In 2021, after four years of decline, there was growth in overseas shipments of extracts of glands or other organs or of their secretions, when their volume increased by 3.4% to X tons. Overall, exports, however, continue to indicate a sharp reduction. The growth pace was the most rapid in 2013 when exports increased by 61% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, organ extracts exports totaled $X in 2021. Over the period under review, exports, however, recorded a dramatic descent. The most prominent rate of growth was recorded in 2013 when exports increased by 28% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Uruguay was the major exporter of extracts of glands or other organs or of their secretions in Latin America and the Caribbean, with the volume of exports recording X tons, which was near 75% of total exports in 2021. Argentina (X tons) took the second position in the ranking, followed by Cuba (X tons). All these countries together took approx. 16% share of total exports. Brazil (X tons) and Colombia (X tons) took a minor share of total exports.

Uruguay was also the fastest-growing in terms of the extracts of glands or other organs or of their secretions exports, with a CAGR of +14.1% from 2012 to 2021. At the same time, Brazil (+6.5%) and Colombia (+2.2%) displayed positive paces of growth. By contrast, Argentina (-8.7%) and Cuba (-45.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uruguay, Argentina, Brazil and Colombia increased by +74, +8.7, +3.4 and +1.9 percentage points, respectively.

In value terms, Argentina ($X) remains the largest organ extracts supplier in Latin America and the Caribbean, comprising 40% of total exports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total exports. It was followed by Uruguay, with a 16% share.

In Argentina, organ extracts exports shrank by an average annual rate of -14.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-15.3% per year) and Uruguay (+7.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 3.5% against the previous year. Over the period under review, the export price, however, saw a deep contraction. The pace of growth appeared the most rapid in 2015 when the export price increased by 42% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, 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 Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cuba (-0.2%), while the other leaders experienced a decline in the export price figures.

Organ Extracts Imports

Imports in Latin America and the Caribbean

After two years of growth, purchases abroad of extracts of glands or other organs or of their secretions decreased by -26.4% to X tons in 2021. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2013 when imports increased by 23%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, organ extracts imports dropped rapidly to $X in 2021. In general, imports faced a precipitous decline. The pace of growth appeared the most rapid in 2020 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil represented the key importing country with an import of about X tons, which reached 35% of total imports. It was distantly followed by Venezuela (X tons), Colombia (X tons), Mexico (X tons), Paraguay (X tons) and Panama (X tons), together generating a 46% share of total imports. Bolivia (X tons) followed a long way behind the leaders.

Imports into Brazil decreased at an average annual rate of -7.6% from 2012 to 2021. At the same time, Colombia (+19.5%), Panama (+13.1%) and Bolivia (+5.7%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +19.5% from 2012-2021. Paraguay experienced a relatively flat trend pattern. By contrast, Venezuela (-13.7%) and Mexico (-25.4%) illustrated a downward trend over the same period. Brazil (+13 p.p.), Colombia (+10 p.p.), Panama (+4.4 p.p.), Paraguay (+3.6 p.p.) and Bolivia (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Venezuela and Mexico saw its share reduced by -3.1% and -31.2% from 2012 to 2021, respectively.

In value terms, Venezuela ($X) constitutes the largest market for imported extracts of glands or other organs or of their secretions in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Brazil ($X), with a 17% share of total imports. It was followed by Mexico, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Venezuela stood at -16.7%. In the other countries, the average annual rates were as follows: Brazil (-38.6% per year) and Mexico (-10.2% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 3.2% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 when the import price increased by 81%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Venezuela ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+20.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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