Mexico: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Mexico

The Mexican market for colouring matter of vegetable or animal origin was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.3% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Mexico

In value terms, vegetable or animal colouring matter production surged to $X in 2021 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 31% against the previous year. Vegetable or animal colouring matter production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Mexico

In 2021, overseas shipments of colouring matter of vegetable or animal origin increased by 47% to X tons, rising for the third year in a row after five years of decline. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 79% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports reduced remarkably to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 47% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Guatemala (X tons), Colombia (X tons) and the United States (X tons) were the main destinations of vegetable or animal colouring matter exports from Mexico, together comprising 82% of total exports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +19.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable or animal colouring matter exported from Mexico were Guatemala ($X), Colombia ($X) and the United States ($X), together accounting for 88% of total exports.

Among the main countries of destination, Guatemala, with a CAGR of +21.3%, 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 trend patterns.

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, shrinking by -46% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 63%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Mexico

In 2021, overseas purchases of colouring matter of vegetable or animal origin decreased by -21% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports saw a slight decrease. The pace of growth appeared the most rapid in 2020 with an increase of 79%. As a result, imports reached the peak of X tons, and then fell significantly in the following year.

In value terms, vegetable or animal colouring matter imports fell dramatically to $X in 2021. Overall, imports, however, recorded a measured increase. The growth pace was the most rapid in 2020 when imports increased by 82% against the previous year. As a result, imports attained the peak of $X, and then reduced markedly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vegetable or animal colouring matter to Mexico, with a 80% share of total imports. Moreover, vegetable or animal colouring matter imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-9.6% per year) and the United States (+17.9% per year).

In value terms, China ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Mexico, comprising 75% of total imports. The second position in the ranking was taken by India ($X), with an 8.3% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.5% per year) and the United States (+19.1% per year).

Import Prices by Country

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, with an increase of 3.8% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter import price increased by +57.7% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 39%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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