Latin America and the Caribbean: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Latin America and the Caribbean

In 2021, the Latin American glycosides and vegetable alkaloids market decreased by -4.3% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption saw a mild downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Glycosides And Vegetable Alkaloids in Latin America and the Caribbean

In value terms, glycosides and vegetable alkaloids production reduced to $X in 2021 estimated in export price. In general, production saw a perceptible decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by 35% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Glycosides And Vegetable Alkaloids

Exports in Latin America and the Caribbean

In 2021, shipments abroad of glycosides and vegetable alkaloids increased by 112% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a deep contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, glycosides and vegetable alkaloids exports soared to $X in 2021. Overall, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Chile (X tons) represented the main exporter of glycosides and vegetable alkaloids, committing 48% of total exports. Brazil (X tons) took the second position in the ranking, followed by Guatemala (X tons), Colombia (X tons) and Peru (X tons). All these countries together took near 47% share of total exports. Venezuela (X tons) followed a long way behind the leaders.

Chile was also the fastest-growing in terms of the glycosides and vegetable alkaloids exports, with a CAGR of +73.1% from 2012 to 2021. At the same time, Peru (+10.4%), Venezuela (+4.1%) and Guatemala (+1.3%) displayed positive paces of growth. By contrast, Colombia (-2.1%) and Brazil (-12.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Guatemala, Peru and Colombia increased by +48, +7.5, +4.1 and +3.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) emerged as the largest glycosides and vegetable alkaloids supplier in Latin America and the Caribbean, comprising 64% of total exports. The second position in the ranking was held by Brazil ($X), with a 26% share of total exports. It was followed by Venezuela, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile amounted to +99.6%. In the other countries, the average annual rates were as follows: Brazil (+0.2% per year) and Venezuela (+4.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, jumping by 58% against the previous year. In general, the export price recorded a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while Guatemala ($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 (+17.3%), while the other leaders experienced more modest paces of growth.

Imports of Glycosides And Vegetable Alkaloids

Imports in Latin America and the Caribbean

In 2021, approx. X tons of glycosides and vegetable alkaloids were imported in Latin America and the Caribbean; growing by 11% compared with the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 19% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, glycosides and vegetable alkaloids imports dropped slightly to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 26%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Brazil was the main importer of glycosides and vegetable alkaloids in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was approx. 43% of total imports in 2021. Chile (X tons) ranks second in terms of the total imports with a 15% share, followed by Colombia (7.5%), Costa Rica (7.2%), Guatemala (6.5%), Argentina (6.3%) and Mexico (5.1%).

Imports into Brazil decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Guatemala (+32.6%), Chile (+24.0%), Colombia (+8.4%), Costa Rica (+4.7%) and Argentina (+3.2%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +32.6% from 2012-2021. By contrast, Mexico (-18.2%) illustrated a downward trend over the same period. Chile (+13 p.p.), Guatemala (+6 p.p.), Colombia (+4 p.p.), Costa Rica (+2.6 p.p.) and Argentina (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Mexico saw its share reduced by -5.7% and -25.1% from 2012 to 2021, respectively.

In value terms, Brazil ($X) constitutes the largest market for imported glycosides and vegetable alkaloids in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with a 13% share.

In Brazil, glycosides and vegetable alkaloids imports increased at an average annual rate of +4.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-5.6% per year) and Argentina (+4.0% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, reducing by -10.3% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glycosides and vegetable alkaloids import price decreased by -39.2% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by 50% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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