Latin America and the Caribbean: Market for Processed cheese (excluding grated or powdered) 2021

Market Size for Processed cheese (excluding grated or powdered) in Latin America and the Caribbean

After two years of growth, the Latin American market for processed cheese (excluding grated or powdered) decreased by -X% to $X in 2020. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2020, consumption failed to regain the momentum.

Production of Processed cheese (excluding grated or powdered) in Latin America and the Caribbean

In value terms, production of processed cheese (excluding grated or powdered) dropped to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2008 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2020, production failed to regain the momentum.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of production of processed cheese (excluding grated or powdered) in 2020 were Brazil (X tons), Mexico (X tons) and Argentina (X tons), together comprising X% of total production. Colombia, Venezuela, Nicaragua, Peru, Chile, Cuba, Uruguay, Ecuador, Honduras and the Dominican Republic lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of production of processed cheese (excluding grated or powdered), amongst the key producing countries, was attained by Uruguay, while production of processed cheese (excluding grated or powdered) for the other leaders experienced more modest paces of growth.

Exports of Processed cheese (excluding grated or powdered)

Exports in Latin America and the Caribbean

In 2020, approx. X tons of processed cheese (excluding grated or powdered) were exported in Latin America and the Caribbean; growing by X% compared with 2019 figures. Overall, exports posted a pronounced expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure in 2020 and are expected to retain growth in years to come.

In value terms, exports of processed cheese (excluding grated or powdered) expanded slightly to $X in 2020. Total exports indicated prominent growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2007 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% year-to-year. The level of export peaked in 2020 and is likely to see gradual growth in the near future.

Exports by Country

In 2020, Nicaragua (X tons) was the largest exporter of processed cheese (excluding grated or powdered), making up X% of total exports. It was distantly followed by Uruguay (X tons) and Honduras (X tons), together constituting a X% share of total exports. The following exporters - Jamaica (X tons), Brazil (X tons) and Panama (X tons) - together made up X% of total exports.

Exports from Nicaragua increased at an average annual rate of +X% from 2007 to 2020. At the same time, Uruguay (+X%) and Jamaica (+X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. Honduras experienced a relatively flat trend pattern. By contrast, Panama (-X%) and Brazil (-X%) illustrated a downward trend over the same period. While the share of Uruguay (+X p.p.) and Nicaragua (+X p.p.) increased significantly in terms of the total exports from 2007-2020, the share of Panama (-X p.p.), Honduras (-X p.p.) and Brazil (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest processed cheese (excluding grated or powdered) supplying countries in Latin America and the Caribbean were Nicaragua ($X), Uruguay ($X) and Honduras ($X), together comprising X% of total exports.

In terms of the main exporting countries, Uruguay saw the highest rates of growth with regard to 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 for processed cheese (excluding grated or powdered) in Latin America and the Caribbean stood at $X per ton in 2020, remaining constant against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 when the export price increased by X% year-to-year. Over the period under review, export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Panama ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Honduras, while the other leaders experienced more modest paces of growth.

Imports of Processed cheese (excluding grated or powdered)

Imports in Latin America and the Caribbean

In 2020, imports of processed cheese (excluding grated or powdered) in Latin America and the Caribbean contracted to X tons, reducing by -X% against 2019. Total imports indicated a buoyant increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2017 indices. The pace of growth was the most pronounced in 2008 when imports increased by X% y-o-y. The volume of import peaked at X tons in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, imports of processed cheese (excluding grated or powdered) shrank to $X in 2020. Total imports indicated a prominent increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2013 indices. The pace of growth was the most pronounced in 2008 when imports increased by X% against the previous year. The level of import peaked at $X in 2019, and then fell in the following year.

Imports by Country

El Salvador dominates imports of processed cheese (excluding grated or powdered) structure, amounting to X tons, which was approx. X% of total imports in 2020. It was distantly followed by Brazil (X tons), creating an X% share of total imports. The following importers - Argentina (X tons), Belize (X tons), Guyana (X tons), Guatemala (X tons), Panama (X tons), Colombia (X tons), Chile (X tons) and Jamaica (X tons) - together made up X% of total imports.

From 2007 to 2020, average annual rates of growth with regard to processed cheese (excluding grated or powdered) imports into El Salvador stood at +X%. At the same time, Brazil (+X%), Colombia (+X%), Guyana (+X%), Panama (+X%), Belize (+X%), Jamaica (+X%), Guatemala (+X%) and Chile (+X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. By contrast, Argentina (-X%) illustrated a downward trend over the same period. While the share of El Salvador (+X p.p.), Brazil (+X p.p.), Guyana (+X p.p.), Colombia (+X p.p.) and Panama (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Chile (-X p.p.) and Argentina (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, El Salvador ($X) constitutes the largest market for imported processed cheese (excluding grated or powdered) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was occupied by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

In El Salvador, imports of processed cheese (excluding grated or powdered) expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and Argentina (+X% per year).

Import Prices by Country

In 2020, the import price for processed cheese (excluding grated or powdered) in Latin America and the Caribbean amounted to $X per ton, reducing by -X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Jamaica ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Guatemala, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :