Peru: Coffee Extract Market 2024

Coffee Extract Market Size in Peru

For the third consecutive year, the Peruvian coffee extract market recorded decline in sales value, which decreased by -0.3% to $X in 2021. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Coffee Extract Production in Peru

In value terms, coffee extract production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Coffee Extract Exports

Exports from Peru

In 2021, overseas shipments of coffee extracts, essences and concentrates decreased by -42.4% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports saw a sharp slump. The growth pace was the most rapid in 2015 when exports increased by 128% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, coffee extract exports declined sharply to $X in 2021. In general, exports continue to indicate a dramatic slump. The pace of growth was the most pronounced in 2015 with an increase of 69%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for coffee extract exports from Peru, with a 62% share of total exports. Moreover, coffee extract exports to the Dominican Republic exceeded the volume sent to the second major destination, Germany (X tons), fivefold. The third position in this ranking was held by Guatemala (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic stood at +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+18.8% per year) and Guatemala (+39.0% per year).

In value terms, the largest markets for coffee extract exported from Peru were Guatemala ($X), Ireland ($X) and the United States ($X), with a combined 59% share of total exports.

In terms of the main countries of destination, Guatemala, with a CAGR of +48.6%, recorded the highest rates of growth with regard to 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 coffee extract export price stood at $X per ton in 2021, with an increase of 6.6% against the previous year. Over the period under review, the export price, however, saw a deep contraction. The growth pace was the most rapid in 2018 an increase of 25% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to the Dominican Republic ($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 Bolivia (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into Peru

In 2021, overseas purchases of coffee extracts, essences and concentrates decreased by -24.4% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2016 with an increase of 68% against the previous year. Imports peaked at X tons in 2020, and then declined markedly in the following year.

In value terms, coffee extract imports dropped to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 52% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then fell in the following year.

Imports by Country

In 2021, Brazil (X tons) constituted the largest coffee extract supplier to Peru, accounting for a 42% share of total imports. Moreover, coffee extract imports from Brazil exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+32.3% per year) and Malaysia (+2.8% per year).

In value terms, Brazil ($X), Colombia ($X) and Malaysia ($X) appeared to be the largest coffee extract suppliers to Peru, with a combined 72% share of total imports.

Colombia, with a CAGR of +27.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average coffee extract import price stood at $X per ton in 2021, growing by 13% against the previous year. Over the period under review, the import price, however, saw a noticeable setback. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 Ecuador ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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