Peru: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Peru

In 2022, the Peruvian preparations for animal feeding market decreased by -2.4% to $X, falling for the third year in a row after eight years of growth. Overall, the total consumption indicated a prominent expansion 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, consumption decreased by -3.2% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Preparations Used In Animal Feeding in Peru

In value terms, preparations for animal feeding production dropped to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Preparations Used In Animal Feeding

Exports from Peru

In 2022, shipments abroad of preparations used in animal feeding increased by 5.9% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a notable expansion from 2012 to 2022: its volume 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, exports increased by +47.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, preparations for animal feeding exports amounted to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +54.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for preparations for animal feeding exports from Peru, accounting for a 80% share of total exports. Moreover, preparations for animal feeding exports to Ecuador exceeded the volume sent to the second major destination, Colombia (X tons), more than tenfold. Nicaragua (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-2.3% per year) and Nicaragua (+10.2% per year).

In value terms, Ecuador ($X) remains the key foreign market for preparations used in animal feeding exports from Peru, comprising 78% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a 6.7% share of total exports. It was followed by Colombia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ecuador totaled +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+17.3% per year) and Colombia (-4.4% per year).

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, growing by 3.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Colombia ($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 Nicaragua (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Peru

In 2022, purchases abroad of preparations used in animal feeding decreased by -44.1% to X tons for the first time since 2013, thus ending a eight-year rising trend. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 28% against the previous year. Imports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, preparations for animal feeding imports contracted dramatically to $X in 2022. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of preparations for animal feeding to Peru, with a 36% share of total imports. Moreover, preparations for animal feeding imports from Ecuador exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ecuador amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+10.6% per year) and the United States (-8.5% per year).

In value terms, the largest preparations for animal feeding suppliers to Peru were Ecuador ($X), the United States ($X) and Chile ($X), with a combined 49% share of total imports. Brazil, China, Argentina, Colombia, Spain, the Netherlands, the Czech Republic and Honduras lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +31.7%, 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

In 2022, the average preparations for animal feeding import price amounted to $X per ton, rising by 32% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. 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 the United States ($X per ton), while the price for Honduras ($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 (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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