Latin America and the Caribbean: Hop Market 2025

Hop Market Size in Latin America and the Caribbean

The Latin American hop market declined to $X in 2022, which is down by -12.1% against the previous year. Over the period under review, consumption, however, enjoyed a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Hop Production in Latin America and the Caribbean

In value terms, hop production contracted to $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -18.1% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 57% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Argentina (X tons) remains the largest hop producing country in Latin America and the Caribbean, accounting for 93% of total volume. Moreover, hop production in Argentina exceeded the figures recorded by the second-largest producer, Mexico (X tons), more than tenfold.

In Argentina, hop production remained relatively stable over the period from 2012-2022.

The average hop yield fell to X tons per ha in 2022, waning by -5.6% on 2021. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 41%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the hop yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of hops production in Latin America and the Caribbean was estimated at X ha, approximately reflecting the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 2.4% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

Hop Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of hops were finally on the rise to reach X tons after two years of decline. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 198% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, hop exports skyrocketed to $X in 2022. Overall, exports continue to indicate modest growth. The most prominent rate of growth was recorded in 2019 with an increase of 262% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Argentina (X tons) and Colombia (X tons) represented the main exporters of hops in 2022, finishing at approx. 39% and 29% of total exports, respectively. Brazil (X tons) ranks next in terms of the total exports with a 16% share, followed by Peru (15%).

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +98.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hop supplying countries in Latin America and the Caribbean were Argentina ($X), Colombia ($X) and Brazil ($X), together comprising 85% of total exports.

Brazil, with a CAGR of +113.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with a decrease of -4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2016 when the export price increased by 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Brazil ($X per ton) and Colombia ($X per ton), while Peru ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.3%), while the other leaders experienced more modest paces of growth.

Hop Imports

Imports in Latin America and the Caribbean

In 2022, hop imports in Latin America and the Caribbean dropped to X tons, with a decrease of -8.7% against 2021 figures. Over the period under review, imports, however, recorded resilient growth. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, hop imports reduced to $X in 2022. Overall, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Brazil (X tons) was the largest importer of hops, generating 43% of total imports. Mexico (X tons) ranks second in terms of the total imports with a 15% share, followed by Argentina (13%), Colombia (11%) and Peru (8.1%). The following importers - Ecuador (X tons) and Chile (X tons) - each amounted to a 4.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hop imports into Brazil stood at +4.3%. At the same time, Chile (+23.4%), Mexico (+19.5%), Argentina (+10.8%) and Peru (+4.1%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +23.4% from 2012-2022. Ecuador and Colombia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico, Argentina and Chile increased by +11, +5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported hops in Latin America and the Caribbean, comprising 44% of total imports. The second position in the ranking was taken by Argentina ($X), with a 19% share of total imports. It was followed by Mexico, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Brazil totaled +5.3%. In the other countries, the average annual rates were as follows: Argentina (+15.1% per year) and Mexico (+16.9% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, falling by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2017 an increase of 12%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 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 ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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