MERCOSUR: Yoghurt Market 2024

Yoghurt Market Size in MERCOSUR

The MERCOSUR yoghurt market reduced slightly to $X in 2022, leveling off at the previous year. Overall, consumption saw a mild contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Yoghurt Production in MERCOSUR

In value terms, yoghurt production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Yoghurt Exports

Exports in MERCOSUR

In 2022, shipments abroad of yoghurt was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 38% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, yoghurt exports shrank modestly to $X in 2022. Overall, exports, however, recorded a mild reduction. The pace of growth was the most pronounced in 2019 when exports increased by 27% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Chile (X tons), Argentina (X tons) and Colombia (X tons) represented the main exporter of yoghurt in MERCOSUR, making up 87% of total export. It was distantly followed by Peru (X tons), creating a 7.1% share of total exports. Brazil (X tons) and Venezuela (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Chile (with a CAGR of +30.0%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) remains the largest yoghurt supplier in MERCOSUR, comprising 55% of total exports. The second position in the ranking was held by Colombia ($X), with a 21% share of total exports. It was followed by Argentina, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Chile amounted to +48.0%. In the other countries, the average annual rates were as follows: Colombia (+9.6% per year) and Argentina (-17.8% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, which is down by -2% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt export price increased by +30.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 39%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then reduced modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+13.8%), while the other leaders experienced more modest paces of growth.

Yoghurt Imports

Imports in MERCOSUR

In 2022, purchases abroad of yoghurt decreased by -11.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 23%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, yoghurt imports fell to $X in 2022. Overall, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Suriname (X tons) and Guyana (X tons) were the major importers of yoghurt in 2022, resulting at near 26% and 21% of total imports, respectively. Colombia (X tons) ranks next in terms of the total imports with a 13% share, followed by Venezuela (13%), Chile (13%) and Uruguay (7.5%). Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +48.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guyana ($X), Colombia ($X) and Suriname ($X) were the countries with the highest levels of imports in 2022, together accounting for 70% of total imports. Venezuela, Uruguay, Chile and Ecuador lagged somewhat behind, together comprising a further 26%.

In terms of the main importing countries, Venezuela, with a CAGR of +39.1%, saw the highest rates of growth with regard to 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 MERCOSUR amounted to $X per ton, therefore, remained relatively stable 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 2019 when the import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, 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 Colombia ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform