MERCOSUR: Soups Market 2024

Soups Market Size in MERCOSUR

In 2021, the MERCOSUR soups market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 9.9% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Soups Production in MERCOSUR

In value terms, soups production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 12%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Soups Exports

Exports in MERCOSUR

In 2021, shipments abroad of soups and broths increased by 39% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, soups exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Peru (X tons) and Brazil (X tons) dominates exports structure, together constituting 87% of total exports. It was distantly followed by Argentina (X tons), committing a 6.9% share of total exports. The following exporters - Chile (X tons) and Colombia (X tons) - each finished at a 6.1% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +9.4%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest soups supplying countries in MERCOSUR were Peru ($X), Brazil ($X) and Argentina ($X), together accounting for 89% of total exports.

In terms of the main exporting countries, Peru, with a CAGR of +9.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, reducing by -8.5% against the previous year. Over the period under review, the export price recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 an increase of 3.9%. The level of export peaked at $X per ton in 2013; however, from 2014 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 Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+1.7%), while the other leaders experienced a decline in the export price figures.

Soups Imports

Imports in MERCOSUR

In 2021, supplies from abroad of soups and broths increased by 18% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 23% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, soups imports surged to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 28%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Chile (X tons), Argentina (X tons), Colombia (X tons), Venezuela (X tons), Suriname (X tons), Peru (X tons), Uruguay (X tons), Guyana (X tons) and Paraguay (X tons) represented the key importer of soups and broths in MERCOSUR, creating 97% of total import.

From 2012 to 2021, the biggest increases were recorded for Suriname (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constitutes the largest market for imported soups and broths in MERCOSUR, comprising 28% of total imports. The second position in the ranking was taken by Argentina ($X), with a 12% share of total imports. It was followed by Colombia, with an 11% share.

In Chile, soups imports expanded at an average annual rate of +7.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+3.0% per year) and Colombia (+9.9% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price, however, saw a slight downturn. The pace of growth was the most pronounced in 2013 when the import price increased by 4%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guyana (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform