Latin America and the Caribbean: Malt Market 2024

Malt Market Size in Latin America and the Caribbean

In 2022, the Latin American malt market decreased by -1.5% to $X for the first time since 2017, thus ending a four-year rising trend. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Malt Production in Latin America and the Caribbean

In value terms, malt production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 with an increase of 12%. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Malt Exports

Exports in Latin America and the Caribbean

In 2022, malt exports in Latin America and the Caribbean amounted to X tons, approximately reflecting the previous year's figure. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 9.1% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, malt exports expanded slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2017 when exports increased by 5.1%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) and Uruguay (X tons) dominates exports structure, together creating 95% of total exports. The following exporters - Colombia (X tons) and Brazil (X tons) - together made up 5% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Uruguay ($X) and Brazil ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 97% of total exports.

In terms of the main exporting countries, Brazil, with a CAGR of +23.1%, recorded the highest growth rate of 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

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 1.8% against the previous year. In general, the export price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2013 an increase of 6.2% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.3%), while the other leaders experienced a decline in the export price figures.

Malt Imports

Imports in Latin America and the Caribbean

In 2022, after three years of growth, there was significant decline in purchases abroad of malt, when their volume decreased by -17.1% to X tons. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. As a result, imports reached the peak of X tons, and then reduced notably in the following year.

In value terms, malt imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Brazil represented the key importer of malt in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was approx. 48% of total imports in 2022. It was distantly followed by Mexico (X tons), generating a 22% share of total imports. Peru (X tons), Venezuela (X tons), the Dominican Republic (X tons), Guatemala (X tons), Bolivia (X tons), Paraguay (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to malt imports into Brazil stood at +2.2%. At the same time, Guatemala (+10.3%), Paraguay (+8.1%), Mexico (+4.4%), the Dominican Republic (+4.3%) and Bolivia (+2.1%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.3% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Peru (-1.1%) and Venezuela (-13.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Brazil and Guatemala increased by +5.3, +3.3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest malt importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Guatemala ($X), together comprising 77% of total imports.

Guatemala, with a CAGR of +13.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 15% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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