Latin America and the Caribbean: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in Latin America and the Caribbean

The Latin American pyrethrum and peppermint market rose modestly to $X in 2022, with an increase of 3.9% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in Latin America and the Caribbean

In value terms, pyrethrum and peppermint production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 7.7% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Pyrethrum And Peppermint Exports

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of pyrethrum and peppermint increased by 0.7% to X tons in 2022. Overall, exports, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2017 when exports increased by 28%. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, pyrethrum and peppermint exports amounted to $X in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 51%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Peru (X tons), Colombia (X tons), Mexico (X tons) and Chile (X tons) was the key exporter of pyrethrum and peppermint in Latin America and the Caribbean, generating 78% of total export. It was distantly followed by Guatemala (X tons), constituting a 6% share of total exports. Brazil (X tons) and Paraguay (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +18.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest pyrethrum and peppermint supplying countries in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Peru ($X), together comprising 65% of total exports. Colombia, Brazil, Guatemala and Paraguay lagged somewhat behind, together accounting for a further 26%.

Among the main exporting countries, Guatemala, with a CAGR of +23.0%, 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 ton in 2022, surging by 5.5% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pyrethrum and peppermint export price increased by +19.2% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 20%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Paraguay ($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 (+12.6%), while the other leaders experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports in Latin America and the Caribbean

In 2022, pyrethrum and peppermint imports in Latin America and the Caribbean expanded significantly to X tons, growing by 9% on 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, pyrethrum and peppermint imports soared to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +128.2% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 59% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) represented the major importer of pyrethrum and peppermint, comprising 32% of total imports. Mexico (X tons) took the second position in the ranking, followed by Argentina (X tons), Chile (X tons), El Salvador (X tons) and Nicaragua (X tons). All these countries together held approx. 43% share of total imports. Colombia (X tons), Guatemala (X tons), Costa Rica (X tons), Paraguay (X tons), Ecuador (X tons) and Uruguay (X tons) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, Nicaragua (+28.2%), El Salvador (+18.5%), Costa Rica (+16.7%), Colombia (+9.6%), Ecuador (+8.7%), Guatemala (+6.1%), Paraguay (+2.5%) and Chile (+1.3%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +28.2% from 2012-2022. Argentina experienced a relatively flat trend pattern. By contrast, Uruguay (-2.4%) and Mexico (-11.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, El Salvador, Nicaragua, Costa Rica, Colombia and Guatemala increased by +16, +4.8, +4.2, +2.8, +2.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 60% of total imports. Chile, Guatemala, Colombia, Paraguay, El Salvador, Costa Rica, Nicaragua, Uruguay and Ecuador lagged somewhat behind, together accounting for a further 33%.

Among the main importing countries, Nicaragua, with a CAGR of +15.8%, saw 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 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Nicaragua ($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 (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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