Uruguay: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Uruguay

In 2021, the Uruguayan market for colouring matter of vegetable or animal origin increased by 14% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in years to come.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Uruguay

Vegetable or animal colouring matter exports from Uruguay declined remarkably to X kg in 2021, dropping by -49.3% against 2020. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 656% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports declined markedly to $X in 2021. Over the period under review, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 1,712%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Paraguay (X kg), Singapore (X kg) and Chile (X kg) were the main destinations of vegetable or animal colouring matter exports from Uruguay, together accounting for 93% of total exports. These countries were followed by Canada and Japan, which together accounted for a further 6.9%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +40.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Japan ($X) and Paraguay ($X) appeared to be the largest markets for vegetable or animal colouring matter exported from Uruguay worldwide, together comprising 91% of total exports.

Among the main countries of destination, Paraguay, with a CAGR of +69.4%, 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

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, falling by -54.7% against the previous year. In general, the export price showed a perceptible curtailment. The growth pace was the most rapid in 2018 an increase of 139%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Paraguay ($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 Brazil (+212.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Uruguay

Vegetable or animal colouring matter imports into Uruguay fell modestly to X tons in 2021, which is down by -1.5% against the year before. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 18% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, vegetable or animal colouring matter imports skyrocketed to $X in 2021. In general, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Peru (X tons), Argentina (X tons) and Brazil (X tons) were the main suppliers of vegetable or animal colouring matter imports to Uruguay, with a combined 73% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +3.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable or animal colouring matter suppliers to Uruguay were Brazil ($X), Argentina ($X) and Peru ($X), with a combined 71% share of total imports.

Brazil, with a CAGR of +11.2%, saw 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 mixed trend patterns.

Import Prices by Country

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, growing by 19% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 28%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, 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 Brazil ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+71.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :