Latin America and the Caribbean: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in the Latin American market for protein concentrates and flavoured or coloured sugar syrups, when its value increased by 5.3% to $X. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Latin America and the Caribbean

In value terms, production of protein concentrates and flavoured or coloured sugar syrups rose slightly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 10%. As a result, production reached the peak level of $X. From 2014 to 2021, production of growth remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in Latin America and the Caribbean

In 2021, after three years of growth, there was significant decline in shipments abroad of protein concentrates and flavoured or coloured sugar syrups, when their volume decreased by -8.8% to X tons. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.6% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 38%. Over the period under review, the exports of reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.7% against 2017 indices. The growth pace was the most rapid in 2020 when exports increased by 52% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Brazil was the main exporting country with an export of about X tons, which resulted at 58% of total exports. It was distantly followed by Argentina (X tons), creating a 36% share of total exports. Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest protein concentrate and flavoured or coloured sugar syrup supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was held by Argentina ($X), with a 16% share of total exports.

In Brazil, exports of protein concentrates and flavoured or coloured sugar syrups increased at an average annual rate of +8.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (+1.3% per year) and Mexico (+20.3% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 3.8% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2020 an increase of 26%. Over the period under review, the export prices reached the maximum in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports in Latin America and the Caribbean

For the tenth year in a row, LatAmerica and the Caribbean recorded growth in supplies from abroad of protein concentrates and flavoured or coloured sugar syrups, which increased by 22% to X tons in 2021. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 77% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.4% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 31%. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

Chile was the largest importer of protein concentrates and flavoured or coloured sugar syrups in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near 61% of total imports in 2021. Mexico (X tons) ranks second in terms of the total imports with a 10% share, followed by Peru (7%) and Colombia (5.9%). The following importers - Guatemala (X tons), Argentina (X tons) and the Dominican Republic (X tons) - each amounted to a 5.9% share of total imports.

Chile was also the fastest-growing in terms of the protein concentrates and flavoured or coloured sugar syrups imports, with a CAGR of +30.8% from 2012 to 2021. At the same time, Peru (+19.8%), Guatemala (+10.2%), Colombia (+8.5%), Argentina (+3.1%) and the Dominican Republic (+1.6%) displayed positive paces of growth. Mexico experienced a relatively flat trend pattern. While the share of Chile (+43 p.p.) and Peru (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Dominican Republic (-2.9 p.p.), Argentina (-3 p.p.), Colombia (-3.2 p.p.) and Mexico (-19.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Colombia ($X), with a combined 67% share of total imports.

In terms of the main importing countries, Chile, with a CAGR of +21.1%, recorded the highest growth rate of 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 2.6% against the previous year. Overall, the import price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2013 when the import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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