Latin America and the Caribbean: Grape Must Market 2024

Grape Must Market Size in Latin America and the Caribbean

The Latin American grape must market contracted modestly to $X in 2021, approximately reflecting the previous year. In general, consumption continues to indicate a mild decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Grape Must Production in Latin America and the Caribbean

In value terms, grape must production fell modestly to $X in 2021 estimated in export price. Overall, production saw a slight decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Grape Must Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of grape must decreased by -49.2% to X litres, falling for the seventh consecutive year after three years of growth. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 11%. As a result, the exports reached the peak of X litres. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, grape must exports fell dramatically to $X in 2021. Over the period under review, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 12%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Argentina (X litres) represented the major exporter of grape must, mixing up 50% of total exports. It was distantly followed by Panama (X litres) and Chile (X litres), together creating a 46% share of total exports. Brazil (X litres) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of -9.6%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest grape must supplying countries in Latin America and the Caribbean were Panama ($X), Argentina ($X) and Chile ($X), with a combined 96% share of total exports.

In terms of the main exporting countries, Panama, with a CAGR of -8.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per litre in 2021, picking up by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced contraction. The growth pace was the most rapid in 2018 when the export price increased by 17%. Over the period under review, the export prices reached the peak figure at $X per litre in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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 Panama ($X per litre), while Argentina ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+0.9%), while the other leaders experienced a decline in the export price figures.

Grape Must Imports

Imports in Latin America and the Caribbean

In 2021, approx. X litres of grape must were imported in Latin America and the Caribbean; picking up by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 49% against the previous year. As a result, imports reached the peak of X litres. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, grape must imports soared to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Panama was the largest importer of grape must in Latin America and the Caribbean, with the volume of imports accounting for X litres, which was near 72% of total imports in 2021. It was distantly followed by Mexico (X litres), creating an 11% share of total imports. The following importers - Grenada (X litres), Brazil (X litres), Curacao (X litres) and Venezuela (X litres) - together made up 9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to grape must imports into Panama stood at +1.3%. At the same time, Curacao (+55.9%), Mexico (+54.6%), Venezuela (+7.4%) and Brazil (+1.8%) displayed positive paces of growth. Moreover, Curacao emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +55.9% from 2012-2021. By contrast, Grenada (-3.6%) illustrated a downward trend over the same period. While the share of Mexico (+11 p.p.), Grenada (+2.7 p.p.) and Curacao (+1.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Panama ($X) constitutes the largest market for imported grape must in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was held by Mexico ($X), with a 17% share of total imports. It was followed by Brazil, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Panama was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+46.3% per year) and Brazil (-0.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per litre in 2021, surging by 2.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per litre. From 2019 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 Brazil ($X per litre), while Panama ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Grenada (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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