Mexico: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Mexico

The Mexican preparations for animal feeding market expanded slightly to $X in 2022, with an increase of 1.7% against the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.5% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Preparations Used In Animal Feeding in Mexico

In value terms, preparations for animal feeding production expanded to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 58% against the previous year. Preparations for animal feeding production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Preparations Used In Animal Feeding

Exports from Mexico

In 2022, the amount of preparations used in animal feeding exported from Mexico expanded slightly to X tons, with an increase of 3.2% compared with the year before. Overall, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 71%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, preparations for animal feeding exports soared to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 71%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Guatemala (X tons), Costa Rica (X tons) and the United States (X tons) were the main destinations of preparations for animal feeding exports from Mexico, with a combined 65% share of total exports. Panama, El Salvador, the Dominican Republic, Colombia and Cuba lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +14.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preparations for animal feeding exported from Mexico were the United States ($X), Guatemala ($X) and Costa Rica ($X), together comprising 74% of total exports. Panama, El Salvador, the Dominican Republic, Colombia and Cuba lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Panama, with a CAGR of +14.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, increasing by 22% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding export price decreased by -1.5% against 2018 indices. The pace of growth was the most pronounced in 2016 an increase of 36%. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Mexico

In 2022, purchases abroad of preparations used in animal feeding increased by 3.5% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports showed a temperate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 45% 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.

In value terms, preparations for animal feeding imports surged to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +102.7% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of preparations for animal feeding to Mexico, with a 90% share of total imports. Moreover, preparations for animal feeding imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by France (X tons), with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and France (-6.5% per year).

In value terms, the United States ($X) constituted the largest supplier of preparations used in animal feeding to Mexico, comprising 83% of total imports. The second position in the ranking was taken by China ($X), with a 5.8% share of total imports. It was followed by France, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.1% per year) and France (-7.5% per year).

Import Prices by Country

In 2022, the average preparations for animal feeding import price amounted to $X per ton, picking up by 21% against the previous year. Over the period under review, the import price saw a temperate increase. The growth pace was the most rapid in 2015 when the average import price increased by 84% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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