Latin America and the Caribbean: Inulin Market 2024

Inulin Market Size in Latin America and the Caribbean

The Latin American inulin market fell to $X in 2021, with a decrease of -10.9% against the previous year. Over the period under review, consumption saw a perceptible descent. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Inulin Production in Latin America and the Caribbean

In value terms, inulin production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by 20%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Inulin Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of inulin increased by 13% to X tons, rising for the seventh year in a row after two years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +102.2% against 2014 indices. The growth pace was the most rapid in 2017 with an increase of 27%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, inulin exports skyrocketed to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.8% against 2018 indices. 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) was the largest exporter of inulin, mixing up 88% of total exports. It was distantly followed by Mexico (X tons), creating an 11% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to inulin exports from Chile stood at +7.1%. At the same time, Mexico (+10.1%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.1% from 2012-2021. From 2012 to 2021, the share of Mexico increased by +2.3 percentage points.

In value terms, Chile ($X) remains the largest inulin supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was taken by Mexico ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile amounted to +2.3%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 22% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. Over the period under review, the export prices reached the maximum at $X per ton 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 Mexico ($X per ton), while Chile amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%).

Inulin Imports

Imports in Latin America and the Caribbean

After four years of growth, supplies from abroad of inulin decreased by -23% to X tons in 2021. Total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 34% against the previous year. The volume of import peaked at X tons in 2020, and then fell notably in the following year.

In value terms, inulin imports declined markedly to $X in 2021. Overall, imports showed a slight decline. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. The level of import peaked at $X in 2020, and then fell markedly in the following year.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which resulted at 46% of total imports. It was distantly followed by Brazil (X tons), Argentina (X tons), Chile (X tons) and Colombia (X tons), together achieving a 46% share of total imports. The following importers - Costa Rica (X tons) and Peru (X tons) - each accounted for a 4% share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of inulin. At the same time, Peru (+19.3%), Colombia (+8.5%), Brazil (+6.0%) and Argentina (+2.5%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +19.3% from 2012-2021. Costa Rica experienced a relatively flat trend pattern. By contrast, Chile (-1.4%) illustrated a downward trend over the same period. Brazil (+6.4 p.p.) and Colombia (+3 p.p.) significantly strengthened its position in terms of the total imports, while Chile and Mexico saw its share reduced by -2.4% and -7.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported inulin in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was held by Brazil ($X), with a 19% share of total imports. It was followed by Argentina, with an 11% share.

In Mexico, inulin imports contracted by an average annual rate of -1.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+3.7% per year) and Argentina (+0.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, dropping by -1.7% against the previous year. Overall, the import price recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 5.6% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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