Uruguay: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Uruguay

The Uruguayan market for protein concentrates and flavoured or coloured sugar syrups rose significantly to $X in 2021, with an increase of 10% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Uruguay

In value terms, production of protein concentrates and flavoured or coloured sugar syrups stood at $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Uruguay

In 2021, the amount of protein concentrates and flavoured or coloured sugar syrups exported from Uruguay shrank notably to X tons, with a decrease of -43% compared with the previous year. In general, exports faced a significant contraction. The pace of growth was the most pronounced in 2020 with an increase of 407% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups fell to $X in 2021. Overall, exports recorded a dramatic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 55% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Uruguay, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at -43.0%.

In value terms, Canada ($X) also remains the key foreign market for protein concentrates and flavoured or coloured sugar syrups exports from Uruguay.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled -14.3%.

Export Prices by Country

In 2021, the average export price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, jumping by 50% against the previous year. Over the period under review, the export price posted measured growth. The most prominent rate of growth was recorded in 2019 an increase of 1,238%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to +50.4% per year.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Uruguay

In 2021, approx. X tons of protein concentrates and flavoured or coloured sugar syrups were imported into Uruguay; surging by 9.7% on the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 9.8%. Over the period under review, imports of hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 22% against the previous year. Over the period under review, imports of attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

Brazil (X tons), the United States (X tons) and Argentina (X tons) were the main suppliers of imports of protein concentrates and flavoured or coloured sugar syrups to Uruguay, with a combined 93% share of total imports. These countries were followed by China and Denmark, which together accounted for a further 6.7%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +135.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup suppliers to Uruguay were Brazil ($X), the United States ($X) and Argentina ($X), together accounting for 91% of total imports. China and Denmark lagged somewhat behind, together comprising a further 8.7%.

In terms of the main suppliers, Denmark, with a CAGR of +152.4%, 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 2021, the average import price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 26%. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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