Latin America and the Caribbean: Market for Orange Juice (Single Strength) 2024

Market Size for Orange Juice (Single Strength) in Latin America and the Caribbean

In 2022, the Latin American orange juice (single strength) market decreased by -24.3% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption continues to indicate a abrupt decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Orange Juice (Single Strength) in Latin America and the Caribbean

In value terms, orange juice (single strength) production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Orange Juice (Single Strength)

Exports in Latin America and the Caribbean

In 2022, overseas shipments of orange juice (single strength) increased by 14% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% 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 +31.9% against 2020 indices. The pace of growth was the most pronounced in 2016 when exports increased by 28%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, orange juice (single strength) exports skyrocketed to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +50.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil dominates exports structure, resulting at X tons, which was near 92% of total exports in 2022. It was distantly followed by Mexico (X tons), comprising a 6.9% share of total exports.

Exports from Brazil increased at an average annual rate of +5.7% from 2012 to 2022. At the same time, Mexico (+26.4%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +26.4% from 2012-2022. Mexico (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -5.5% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest orange juice (single strength) supplier in Latin America and the Caribbean, comprising 85% of total exports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total exports.

In Brazil, orange juice (single strength) exports expanded at an average annual rate of +4.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 10% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-1.0%).

Imports of Orange Juice (Single Strength)

Imports in Latin America and the Caribbean

In 2022, approx. X tons of orange juice (single strength) were imported in Latin America and the Caribbean; shrinking by -9.9% compared with the year before. Over the period under review, imports showed a pronounced decline. The growth pace was the most rapid in 2013 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, orange juice (single strength) imports reduced slightly to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +2.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Chile (X tons), Mexico (X tons), Nicaragua (X tons) and El Salvador (X tons) was the largest importer of orange juice (single strength) in Latin America and the Caribbean, achieving 57% of total import. It was distantly followed by Bahamas (X tons), comprising a 5% share of total imports. Honduras (X tons), Uruguay (X tons), Saint Lucia (X tons), Panama (X tons), Saint Maarten (Dutch part) (X tons), Cayman Islands (X tons), Antigua and Barbuda (X tons) and Saint Vincent and the Grenadines (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +80.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orange juice (single strength) importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Nicaragua ($X), together accounting for 55% of total imports. Bahamas, El Salvador, Uruguay, Panama, Saint Maarten (Dutch part), Saint Lucia, Honduras, Cayman Islands, Antigua and Barbuda and Saint Vincent and the Grenadines lagged somewhat behind, together comprising a further 28%.

Among the main importing countries, Panama, with a CAGR of +74.9%, 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 import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 8.2% against the previous year. Over the last decade, it increased at an average annual rate of +5.1%. The growth pace was the most rapid in 2013 when the import price increased by 24%. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahamas (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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