Panama: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Panama

The Panamanian bone glue and gelatin market reduced to $X in 2022, waning by -12.9% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Bone Glues and Gelatin in Panama

In value terms, bone glue and gelatin production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 61%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Bone Glues and Gelatin

Exports from Panama

In 2022, after three years of decline, there was significant growth in overseas shipments of bone glues and gelatin, when their volume increased by 5.2% to X kg. Over the period under review, exports, however, faced a sharp contraction. The most prominent rate of growth was recorded in 2015 with an increase of 13,111%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, bone glue and gelatin exports reached $X in 2022. In general, exports, however, continue to indicate a precipitous slump. The most prominent rate of growth was recorded in 2018 with an increase of 12,665%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahamas (X tons) was the main destination for bone glue and gelatin exports from Panama, accounting for a 7,101% share of total exports. Moreover, bone glue and gelatin exports to Bahamas exceeded the volume sent to the second major destination, Venezuela (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Bahamas amounted to +81.3%.

In value terms, Bahamas ($X) remains the key foreign market for bone glues and gelatin exports from Panama, comprising 14,774% of total exports. The second position in the ranking was held by Venezuela ($X), with a 1,665% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bahamas amounted to +83.7%.

Export Prices by Country

In 2022, the average bone glue and gelatin export price amounted to $X per ton, with an increase of 1.6% against the previous year. Over the period under review, the export price posted a perceptible increase. The growth pace was the most rapid in 2013 an increase of 94% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Bahamas amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+5.9%).

Imports of Bone Glues and Gelatin

Imports into Panama

After two years of growth, purchases abroad of bone glues and gelatin decreased by -79.3% to X tons in 2022. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 50% against the previous year. Imports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, bone glue and gelatin imports dropped remarkably to $X in 2022. In general, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 49%. Over the period under review, imports reached the maximum at $X in 2021, and then reduced notably in the following year.

Imports by Country

France (X tons), Colombia (X tons) and Brazil (X tons) were the main suppliers of bone glue and gelatin imports to Panama.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +42.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Colombia ($X) and Brazil ($X) appeared to be the largest bone glue and gelatin suppliers to Panama.

Among the main suppliers, France, with a CAGR of +34.1%, 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

The average bone glue and gelatin import price stood at $X per ton in 2022, reducing by -8.3% against the previous year. Overall, the import price showed a pronounced downturn. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform