Latin America and the Caribbean: Mannequin Market 2024

Mannequin Market Size in Latin America and the Caribbean

In 2022, the Latin American mannequin market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a noticeable setback. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Mannequin Production in Latin America and the Caribbean

In value terms, mannequin production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of 11%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Mannequin Exports

Exports in Latin America and the Caribbean

In 2022, the amount of mannequins exported in Latin America and the Caribbean contracted notably to X tons, dropping by -17.8% against the previous year. Over the period under review, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 52%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, mannequin exports rose to $X in 2022. In general, exports recorded a mild shrinkage. The growth pace was the most rapid in 2021 when exports increased by 72% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico was the major exporter of mannequins in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. 56% of total exports in 2022. Brazil (X tons) ranks second in terms of the total exports with an 18% share, followed by Barbados (8.6%). The Dominican Republic (X tons), Costa Rica (X tons), Argentina (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mannequin exports from Mexico stood at -6.4%. At the same time, Barbados (+186.0%), the Dominican Republic (+33.4%) and Costa Rica (+19.0%) displayed positive paces of growth. Moreover, Barbados emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +186.0% from 2012-2022. Brazil experienced a relatively flat trend pattern. By contrast, Colombia (-3.5%) and Argentina (-6.4%) illustrated a downward trend over the same period. While the share of Barbados (+8.6 p.p.), Brazil (+5.1 p.p.), the Dominican Republic (+3.9 p.p.) and Costa Rica (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-19.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest mannequin supplier in Latin America and the Caribbean, comprising 68% of total exports. The second position in the ranking was taken by Brazil ($X), with a 15% share of total exports. It was followed by Costa Rica, with a 6.6% share.

In Mexico, mannequin exports contracted by an average annual rate of -3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-3.2% per year) and Costa Rica (+37.0% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, jumping by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2019 when the export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a 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 Costa Rica ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+15.2%), while the other leaders experienced more modest paces of growth.

Mannequin Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of mannequins increased by 44% to X tons for the first time since 2015, thus ending a six-year declining trend. Overall, imports, however, continue to indicate a noticeable downturn. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, mannequin imports soared to $X in 2022. Over the period under review, imports, however, showed a noticeable decrease. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons), Chile (X tons) and Mexico (X tons) represented the key importer of mannequins in Latin America and the Caribbean, generating 61% of total import. Peru (X tons) took an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (6.5%). Argentina (X tons), Guatemala (X tons), Ecuador (X tons), Guyana (X tons), Costa Rica (X tons) and Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Guyana (with a CAGR of +41.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 63% of total imports. Peru, Colombia, Argentina, Ecuador, Costa Rica, Guatemala, Paraguay and Guyana lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, Guatemala, with a CAGR of +16.2%, saw the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, with a decrease of -10.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 19%. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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