Venezuela: Baby Food Market 2024

Baby Food Market Size in Venezuela

The Venezuelan baby food market stood at $X in 2021, remaining constant against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible curtailment. Baby food consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Baby Food Production in Venezuela

In value terms, baby food production amounted to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.7% against 2018 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 194% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Baby Food Exports

Exports from Venezuela

For the fifth consecutive year, Venezuela recorded growth in shipments abroad of food preparations for infants, which increased by 1% to X tons in 2021. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 222% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, baby food exports contracted to $X in 2021. Overall, exports recorded moderate growth. The pace of growth was the most pronounced in 2018 with an increase of 263%. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Peru (X tons), the United States (X tons) and the Dominican Republic (X tons) were the main destinations of baby food exports from Venezuela, with a combined 74% share of total exports. Aruba, Panama and Chile lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Panama (with a CAGR of +1,259.2%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), the United States ($X) and the Dominican Republic ($X) constituted the largest markets for baby food exported from Venezuela worldwide, together comprising 75% of total exports. These countries were followed by Aruba, Chile and Panama, which together accounted for a further 25%.

Panama, with a CAGR of +938.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baby food export price stood at $X per ton in 2021, waning by -1.6% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 70%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while the average price for exports to Panama ($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 Peru (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Food Imports

Imports into Venezuela

In 2021, after two years of growth, there was significant decline in purchases abroad of food preparations for infants, when their volume decreased by -8.6% to X tons. Over the period under review, imports saw a dramatic curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 241%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, baby food imports fell to $X in 2021. Overall, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2020 with an increase of 127% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest baby food supplier to Venezuela, accounting for a 63% share of total imports. Moreover, baby food imports from Argentina exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was held by Mexico (X tons), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina amounted to -20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.0% per year) and Mexico (-38.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of food preparations for infants to Venezuela, comprising 59% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total imports. It was followed by Mexico, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina totaled -25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-11.9% per year) and Mexico (-40.0% per year).

Import Prices by Country

In 2021, the average baby food import price amounted to $X per ton, with an increase of 3.4% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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