MERCOSUR: Sorbitol Market 2024

Sorbitol Market Size in MERCOSUR

In 2021, the MERCOSUR sorbitol market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a deep slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sorbitol Production in MERCOSUR

In value terms, sorbitol production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of 8.6% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Sorbitol Exports

Exports in MERCOSUR

Sorbitol exports contracted sharply to X tons in 2021, shrinking by -49.2% on the previous year. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 309% against the previous year. The volume of export peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, sorbitol exports declined remarkably to $X in 2021. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 205% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then fell markedly in the following year.

Exports by Country

Colombia prevails in exports structure, resulting at X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Brazil (X tons), constituting a 5.8% share of total exports. Peru (X tons) took a relatively small share of total exports.

Exports from Colombia increased at an average annual rate of +28.3% from 2012 to 2021. At the same time, Brazil (+145.0%) and Peru (+17.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +145.0% from 2012-2021. Colombia (+22 p.p.) and Brazil (+5.8 p.p.) significantly strengthened its position in terms of the total exports, while Peru saw its share reduced by -1.8% from 2012 to 2021, respectively.

In value terms, Colombia ($X) remains the largest sorbitol supplier in MERCOSUR, comprising 89% of total exports. The second position in the ranking was held by Brazil ($X), with a 5.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Colombia totaled +24.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+125.4% per year) and Peru (+16.6% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, surging by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-1.0%), while the other leaders experienced a decline in the export price figures.

Sorbitol Imports

Imports in MERCOSUR

In 2021, approx. X tons of sorbitol (excluding d-glucitol) were imported in MERCOSUR; which is down by -8.7% on 2020 figures. Overall, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 7.8% 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, sorbitol imports expanded modestly to $X in 2021. In general, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 7.5%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Argentina (X tons) was the key importer of sorbitol (excluding d-glucitol), making up 38% of total imports. Peru (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (13%), Chile (9.9%), Ecuador (8.9%), Brazil (4.6%) and Paraguay (4.6%).

From 2012 to 2021, average annual rates of growth with regard to sorbitol imports into Argentina stood at -8.1%. At the same time, Chile (+52.3%), Peru (+8.7%), Ecuador (+4.9%) and Colombia (+1.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +52.3% from 2012-2021. By contrast, Paraguay (-5.1%) and Brazil (-27.1%) illustrated a downward trend over the same period. While the share of Peru (+13 p.p.), Chile (+9.8 p.p.), Colombia (+8.2 p.p.), Ecuador (+6.4 p.p.) and Argentina (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Brazil (-30.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) constitutes the largest market for imported sorbitol (excluding d-glucitol) in MERCOSUR, comprising 48% of total imports. The second position in the ranking was taken by Peru ($X), with an 11% share of total imports. It was followed by Chile, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Argentina amounted to -4.3%. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+5.6% per year) and Chile (+55.8% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, increasing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform