Venezuela: Soft Drink Market 2024

Soft Drink Market Size in Venezuela

The Venezuelan soft drink market was estimated at $X in 2021, flattening at the previous year. Over the period under review, consumption, however, continues to indicate a pronounced curtailment. Soft drink consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Soft Drink Production in Venezuela

In value terms, soft drink production contracted to $X in 2021 estimated in export price. In general, production, however, saw a pronounced reduction. The growth pace was the most rapid in 2019 with an increase of 27% against the previous year. Soft drink production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Soft Drink Exports

Exports from Venezuela

In 2021, the amount of soft drinks exported from Venezuela surged to X litres, picking up by 46% compared with the previous year's figure. Overall, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 181% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, soft drink exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 134%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X litres) was the main destination for soft drink exports from Venezuela, with a 64% share of total exports. Moreover, soft drink exports to the United States exceeded the volume sent to the second major destination, Chile (X litres), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +100.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+120.3% per year) and Spain (-0.4% per year).

In value terms, the United States ($X) remains the key foreign market for soft drink exports from Venezuela, comprising 61% of total exports. The second position in the ranking was taken by Chile ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +105.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+105.4% per year) and Spain (+1.3% per year).

Export Prices by Country

The average soft drink export price stood at $X per litre in 2021, picking up by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The growth pace was the most rapid in 2019 an increase of 74%. Over the period under review, the average export prices hit record highs at $X per litre in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Spain ($X per litre), while the average price for exports to the United States ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Venezuela

In 2021, overseas purchases of soft drinks increased by 42% to X litres, rising for the fourth year in a row after three years of decline. Over the period under review, imports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 127% against the previous year. Over the period under review, imports reached the peak figure at X litres in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, soft drink imports surged to $X in 2021. Overall, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 72%. 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

Brazil (X litres), Colombia (X litres) and the United States (X litres) were the main suppliers of soft drink imports to Venezuela, together accounting for 77% of total imports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +87.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and Colombia ($X) constituted the largest soft drink suppliers to Venezuela, with a combined 66% share of total imports. Austria, Suriname, Turkey, Italy, Poland, Spain, Panama and South Korea lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Poland, with a CAGR of +70.9%, recorded 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 soft drink import price amounted to $X per litre, which is down by -12.7% against the previous year. In general, the import price showed a pronounced contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 49% against the previous year. The import price peaked at $X per litre in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per litre), while the price for Colombia ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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