MERCOSUR: Lactose Market 2024

Lactose Market Size in MERCOSUR

In 2022, the MERCOSUR lactose market increased by 8.9% to $X, rising for the sixth year in a row after four years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Lactose Production in MERCOSUR

In value terms, lactose production rose slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lactose Exports

Exports in MERCOSUR

In 2022, approx. X tons of lactose and lactose syrup were exported in MERCOSUR; falling by -32.8% compared with 2021 figures. Over the period under review, exports saw a mild descent. The most prominent rate of growth was recorded in 2019 when exports increased by 52%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, lactose exports contracted to $X in 2022. In general, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2019 with an increase of 74%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Argentina prevails in exports structure, accounting for X tons, which was near 93% of total exports in 2022. Colombia (X tons) followed a long way behind the leaders.

Exports from Argentina decreased at an average annual rate of -1.2% from 2012 to 2022. At the same time, Colombia (+22.1%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +22.1% from 2012-2022. From 2012 to 2022, the share of Colombia increased by +2.3 percentage points.

In value terms, Argentina ($X) remains the largest lactose supplier in MERCOSUR, comprising 86% of total exports. The second position in the ranking was taken by Colombia ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Argentina amounted to -4.6%.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, jumping by 36% against the previous year. Overall, the export price, however, showed a pronounced setback. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-3.4%).

Lactose Imports

Imports in MERCOSUR

In 2022, purchases abroad of lactose and lactose syrup increased by 0.6% to X tons, rising for the seventh consecutive year after three years of decline. Total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +79.3% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, lactose imports expanded markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 22% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Brazil represented the key importer of lactose and lactose syrup in MERCOSUR, with the volume of imports recording X tons, which was approx. 42% of total imports in 2022. It was distantly followed by Uruguay (X tons), Colombia (X tons), Chile (X tons) and Argentina (X tons), together comprising a 51% share of total imports. The following importers - Peru (X tons) and Ecuador (X tons) - together made up 5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to lactose imports into Brazil stood at -3.9%. At the same time, Uruguay (+22.6%), Colombia (+11.2%), Argentina (+10.0%), Chile (+6.1%), Ecuador (+5.7%) and Peru (+2.5%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +22.6% from 2012-2022. From 2012 to 2022, the share of Uruguay, Colombia, Chile and Argentina increased by +16, +8, +3.9 and +3.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported lactose and lactose syrup in MERCOSUR, comprising 49% of total imports. The second position in the ranking was held by Uruguay ($X), with a 13% share of total imports. It was followed by Chile, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at -3.3%. In the other countries, the average annual rates were as follows: Uruguay (+15.1% per year) and Chile (+3.6% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, picking up by 10% against the previous year. Overall, the import price, however, recorded a slight decline. The pace of growth was the most pronounced in 2017 an increase of 15%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform