Latin America and the Caribbean: Market for Grape Juice (Single Strength) 2024

Market Size for Grape Juice (Single Strength) in Latin America and the Caribbean

The Latin American grape juice (single strength) market stood at $X in 2021, increasing by 7.7% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Grape Juice (Single Strength) in Latin America and the Caribbean

In value terms, grape juice (single strength) production soared to $X in 2021 estimated in export price. In general, production, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 37% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Grape Juice (Single Strength)

Exports in Latin America and the Caribbean

In 2021, shipments abroad of grape juice (single strength) increased by 51% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 93%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grape juice (single strength) exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 60% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Brazil was the major exporter of grape juice (single strength) in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was near 54% of total exports in 2021. Chile (X tons) ranks second in terms of the total exports with a 19% share, followed by El Salvador (18%). The following exporters - Guatemala (X tons) and Jamaica (X tons) - together made up 5.9% of total exports.

Brazil was also the fastest-growing in terms of the grape juice (single strength) exports, with a CAGR of +39.0% from 2012 to 2021. At the same time, Guatemala (+30.4%), Jamaica (+18.7%) and El Salvador (+3.6%) displayed positive paces of growth. Chile experienced a relatively flat trend pattern. Brazil (+51 p.p.), El Salvador (+5.8 p.p.) and Guatemala (+3.7 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 ($X) emerged as the largest grape juice (single strength) supplier in Latin America and the Caribbean, comprising 64% of total exports. The second position in the ranking was held by Chile ($X), with a 22% share of total exports. It was followed by El Salvador, with an 8.9% share.

In Brazil, grape juice (single strength) exports increased at an average annual rate of +30.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-6.3% per year) and El Salvador (+2.5% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, shrinking by -2% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grape juice (single strength) export price decreased by -33.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 122% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (-1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Grape Juice (Single Strength)

Imports in Latin America and the Caribbean

In 2021, approx. X tons of grape juice (single strength) were imported in Latin America and the Caribbean; with an increase of 13% compared with the year before. In general, imports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2016 with an increase of 13%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, grape juice (single strength) imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 47%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Costa Rica represented the largest importer of grape juice (single strength) in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near 29% of total imports in 2021. Venezuela (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (7.6%), El Salvador (7.2%), Honduras (5.3%) and Trinidad and Tobago (5.2%). Paraguay (X tons), Antigua and Barbuda (X tons), Bahamas (X tons), Colombia (X tons), Mexico (X tons), Barbados (X tons) and Nicaragua (X tons) held a little share of total imports.

Costa Rica experienced a relatively flat trend pattern with regard to volume of imports of grape juice (single strength). At the same time, Antigua and Barbuda (+46.7%), Paraguay (+44.4%), El Salvador (+20.4%), Bahamas (+13.6%), Venezuela (+12.2%), Nicaragua (+4.5%) and Guatemala (+3.2%) displayed positive paces of growth. Moreover, Antigua and Barbuda emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +46.7% from 2012-2021. Honduras and Barbados experienced a relatively flat trend pattern. By contrast, Trinidad and Tobago (-5.4%), Colombia (-10.3%) and Mexico (-20.0%) illustrated a downward trend over the same period. Venezuela (+8.6 p.p.), El Salvador (+6 p.p.), Paraguay (+3.6 p.p.), Antigua and Barbuda (+3.1 p.p.), Guatemala (+2.4 p.p.) and Bahamas (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Trinidad and Tobago, Colombia and Mexico saw its share reduced by -2.6%, -3.8% and -14.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Costa Rica ($X), Venezuela ($X) and Trinidad and Tobago ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 62% of total imports. These countries were followed by Honduras, Guatemala, El Salvador, Paraguay, Mexico, Colombia, Bahamas, Antigua and Barbuda, Barbados and Nicaragua, which together accounted for a further 28%.

In terms of the main importing countries, Antigua and Barbuda, with a CAGR of +43.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, standing approx. at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2016 an increase of 30% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

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 ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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