Latin America and the Caribbean: Skim Milk Market 2024

Skim Milk Market Size in Latin America and the Caribbean

The Latin American skim milk market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption saw a slight reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Skim Milk Production in Latin America and the Caribbean

In value terms, skim milk production totaled $X in 2021 estimated in export price. Overall, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 77% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Brazil (X tons) remains the largest skim milk producing country in Latin America and the Caribbean, accounting for 41% of total volume. Moreover, skim milk production in Brazil exceeded the figures recorded by the second-largest producer, Argentina (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume in Brazil totaled +1.3%. The remaining producing countries recorded the following average annual rates of production growth: Argentina (-1.6% per year) and Colombia (-0.2% per year).

Skim Milk Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of skim milk increased by 7.9% to X tons, rising for the third year in a row after four years of decline. In general, exports, however, continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 12% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, skim milk exports rose markedly to $X in 2021. Over the period under review, exports, however, recorded a deep slump. The growth pace was the most rapid in 2019 when exports increased by 10%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Costa Rica (X tons) was the main exporter of skim milk, mixing up 46% of total exports. It was distantly followed by Mexico (X tons), Brazil (X tons) and Honduras (X tons), together creating a 41% share of total exports. Argentina (X tons) and Nicaragua (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +58.7%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Mexico ($X) and Honduras ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 82% of total exports. These countries were followed by Brazil, Argentina and Nicaragua, which together accounted for a further 11%.

Brazil, with a CAGR of +37.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, recorded a slight decrease. The pace of growth was the most pronounced in 2017 when the export price increased by 7.7% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+3.0%), while the other leaders experienced more modest paces of growth.

Skim Milk Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of skim milk were imported in Latin America and the Caribbean; picking up by 11% against 2020. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 44% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, skim milk imports expanded to $X in 2021. Overall, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 45%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Guatemala represented the key importing country with an import of about X tons, which reached 26% of total imports. El Salvador (X tons) ranks second in terms of the total imports with an 11% share, followed by Chile (9.1%), the Dominican Republic (7.5%), Honduras (7.4%), Uruguay (5.7%), Belize (5.5%) and Nicaragua (4.8%). Aruba (X tons), Mexico (X tons), Trinidad and Tobago (X tons) and Venezuela (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to skim milk imports into Guatemala stood at -3.7%. At the same time, Nicaragua (+105.7%), Uruguay (+66.0%), Aruba (+16.1%), Mexico (+13.3%), the Dominican Republic (+10.5%), El Salvador (+3.0%), Trinidad and Tobago (+3.0%) and Honduras (+1.7%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +105.7% from 2012-2021. By contrast, Belize (-4.7%), Chile (-8.3%) and Venezuela (-36.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Guatemala, El Salvador, the Dominican Republic, Uruguay, Nicaragua, Honduras, Aruba, Mexico and Trinidad and Tobago increased by +7.3, +6.8, +5.9, +5.7, +4.8, +4.1, +3.1, +2.4 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X), El Salvador ($X) and Honduras ($X) constituted the countries with the highest levels of imports in 2021, with a combined 48% share of total imports. These countries were followed by Chile, the Dominican Republic, Aruba, Nicaragua, Belize, Uruguay, Mexico, Trinidad and Tobago and Venezuela, which together accounted for a further 38%.

Nicaragua, with a CAGR of +100.1%, recorded the highest growth rate of the value of imports, among 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with a decrease of -6.6% against the previous year. In general, the import price saw a pronounced setback. The growth pace was the most rapid in 2017 when the import price increased by 4.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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