Peru: Biological Product Market 2024

Biological Product Market Size in Peru

The Peruvian biological product market declined notably to $X in 2022, waning by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt shrinkage. As a result, consumption reached the peak level of $X, and then dropped dramatically in the following year.

Biological Product Exports

Exports from Peru

In 2022, overseas shipments of biological products decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, biological product exports shrank rapidly to $X in 2022. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons) was the main destination for biological product exports from Peru, accounting for a X% share of total exports. Moreover, biological product exports to Guatemala exceeded the volume sent to the second major destination, Ecuador (X kg), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guatemala stood at X%.

In value terms, Guatemala ($X) emerged as the key foreign market for biological products exports from Peru, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Guatemala stood at X%.

Export Prices by Country

In 2022, the average biological product export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Biological Product Imports

Imports into Peru

In 2022, biological product imports into Peru contracted significantly to X tons, falling by X% on the year before. In general, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, biological product imports contracted remarkably to $X in 2022. Over the period under review, imports saw a perceptible decline. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of biological product to Peru, with a X% share of total imports. Moreover, biological product imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, Germany ($X), the United States ($X) and Belgium ($X) were the largest biological product suppliers to Peru, together accounting for X% of total imports. Austria, South Korea, China, India, the UK, Sweden, Denmark, Italy, Uruguay and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Uruguay, with a CAGR of X%, recorded 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 average biological product import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price saw a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($X,667 per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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