Latin America and the Caribbean: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Latin America and the Caribbean

In 2022, the Latin American personal weighing machine market decreased by -30.6% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a perceptible increase. As a result, consumption attained the peak level of $X, and then dropped dramatically in the following year.

Personal Weighing Machine Production in Latin America and the Caribbean

In value terms, personal weighing machine production fell markedly to $X in 2022 estimated in export price. In general, production saw a deep downturn. The growth pace was the most rapid in 2019 with an increase of 76,813% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Personal Weighing Machine Exports

Exports in Latin America and the Caribbean

Personal weighing machine exports skyrocketed to X units in 2022, jumping by 67% compared with the previous year's figure. Over the period under review, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 260% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, personal weighing machine exports soared to $X in 2022. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 166% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Panama represented the main exporter of personal weighing machines in Latin America and the Caribbean, with the volume of exports amounting to X units, which was near 47% of total exports in 2022. Chile (X units) held the second position in the ranking, distantly followed by Mexico (X units) and Brazil (X units). All these countries together took approx. 41% share of total exports. Belize (X units), Colombia (X units) and Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to personal weighing machine exports from Panama stood at +12.6%. At the same time, Belize (+55.6%), Chile (+37.5%), Costa Rica (+35.8%), Mexico (+20.4%) and Colombia (+6.3%) displayed positive paces of growth. Moreover, Belize emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +55.6% from 2012-2022. By contrast, Brazil (-5.0%) illustrated a downward trend over the same period. Chile (+18 p.p.), Mexico (+6.8 p.p.), Belize (+2.7 p.p.), Panama (+2.2 p.p.) and Costa Rica (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Colombia and Brazil saw its share reduced by -1.7% and -26.2% from 2012 to 2022, respectively.

In value terms, Panama ($X), Chile ($X) and Mexico ($X) constituted the countries with the highest levels of exports in 2022, together comprising 86% of total exports.

Among the main exporting countries, Chile, with a CAGR of +39.4%, saw the highest growth rate of the value of exports, 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 unit in 2022, increasing by 26% against the previous year. Over the period under review, the export price recorded mild growth. The most prominent rate of growth was recorded in 2017 an increase of 47%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%), while the other leaders experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in supplies from abroad of personal weighing machines, when their volume decreased by -37.6% to X units. Overall, imports, however, showed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 84% against the previous year. As a result, imports reached the peak of X units, and then contracted dramatically in the following year.

In value terms, personal weighing machine imports shrank dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2022, Brazil (X units) represented the key importer of personal weighing machines, mixing up 43% of total imports. It was distantly followed by Mexico (X units), Argentina (X units), Chile (X units) and Peru (X units), together creating a 40% share of total imports. Colombia (X units) and Venezuela (X units) held a minor share of total imports.

Imports into Brazil increased at an average annual rate of +8.0% from 2012 to 2022. At the same time, Peru (+20.1%), Chile (+15.7%), Venezuela (+12.4%), Argentina (+10.3%), Mexico (+5.6%) and Colombia (+4.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +20.1% from 2012-2022. Peru (+5.4 p.p.), Chile (+4.3 p.p.) and Argentina (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Colombia and Mexico saw its share reduced by -1.9% and -3.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Peru ($X) and Mexico ($X) constituted the countries with the highest levels of imports in 2022, together comprising 43% of total imports.

Peru, with a CAGR of +15.6%, recorded the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, growing by 3.9% against the previous year. Overall, the import price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2013 when the import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the 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 Colombia ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :