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

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

The Venezuelan market for protein concentrates and flavoured or coloured sugar syrups was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, continues to indicate a noticeable reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, production of protein concentrates and flavoured or coloured sugar syrups expanded remarkably to $X in 2021 estimated in export price. Overall, production, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production of growth remained at a somewhat lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Venezuela

After two years of growth, shipments abroad of protein concentrates and flavoured or coloured sugar syrups decreased by -32.7% to X kg in 2021. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 328% against the previous year. The exports peaked at X kg in 2020, and then reduced markedly in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups contracted dramatically to $X in 2021. Over the period under review, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of 317%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Aruba (X kg) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Aruba amounted to +16.1%.

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

From 2012 to 2021, the average annual rate of growth in terms of value to Aruba stood at -4.7%.

Export Prices by Country

In 2021, the average export price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2013 an increase of 8.4% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Aruba amounted to -17.9% per year.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Venezuela

In 2021, imports of protein concentrates and flavoured or coloured sugar syrups into Venezuela surged to X tons, picking up by 83% against 2020. Over the period under review, imports, however, showed a pronounced slump. The pace of growth was the most pronounced in 2020 when imports increased by 199% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 245%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest protein concentrate and flavoured or coloured sugar syrup supplier to Venezuela, with a 63% share of total imports. Moreover, imports of protein concentrates and flavoured or coloured sugar syrups from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold. The third position in this ranking was held by China (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-4.7% per year) and China (+5.9% per year).

In value terms, the United States ($X) constituted the largest supplier of protein concentrates and flavoured or coloured sugar syrups to Venezuela, comprising 73% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Denmark, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.5% per year) and Denmark (+17.9% per year).

Import Prices by Country

The average import price for protein concentrates and flavoured or coloured sugar syrups stood at $X per ton in 2021, dropping by -13.7% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average import price increased by 63%. The import price peaked at $X per ton in 2015; however, from 2016 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 Mexico ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+18.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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