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Latin America and the Caribbean - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jan 21, 2020

Margarine And Shortening Market in Latin America and the Caribbean To Continue Moderate Expansion

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IndexBox has just published a new report: 'Latin America and the Caribbean - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The revenue of the margarine and shortening market in Latin America and the Caribbean amounted to $1.8B in 2018, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. 

Consumption By Country in Latin America and the Caribbean

Brazil (596K tonnes) constituted the country with the largest volume of margarine and shortening consumption, comprising approx. 36% of total volume. Moreover, margarine and shortening consumption in Brazil exceeded the figures recorded by the second-largest consumer, Chile (183K tonnes), threefold. Mexico (183K tonnes) ranked third in terms of total consumption with a 11% share.

In Brazil, margarine and shortening consumption increased at an average annual rate of +1.7% over the period from 2007-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: Chile (-4.7% per year) and Mexico (+6.7% per year).

In value terms, Brazil ($652M) led the market, alone. The second position in the ranking was occupied by Mexico ($285M). It was followed by Colombia.

In 2018, the highest levels of margarine and shortening per capita consumption was registered in Chile (10,048 kg per 1000 persons), followed by Venezuela (3,820 kg per 1000 persons), Colombia (3,529 kg per 1000 persons) and Peru (3,442 kg per 1000 persons), while the world average per capita consumption of margarine and shortening was estimated at 2,528 kg per 1000 persons.

Market Forecast 2019-2025 in Latin America and the Caribbean

Driven by increasing demand for margarine and shortening in Latin America and the Caribbean, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2018 to 2025, which is projected to bring the market volume to 1.9M tonnes by the end of 2025.

Production in Latin America and the Caribbean

The margarine and shortening production totaled 1.5M tonnes in 2018, increasing by 2.7% against the previous year. The total output volume increased at an average annual rate of +2.9% from 2007 to 2018. The volume of margarine and shortening production peaked in 2018 and is likely to continue its growth in the immediate term.

Production By Country in Latin America and the Caribbean

Brazil (556K tonnes) remains the largest margarine and shortening producing country in Latin America and the Caribbean, comprising approx. 38% of total volume. It was followed by Argentina (199K tonnes) and Colombia (160K tonnes) which ranked second and third, respectively, in terms of total production.

In Brazil, margarine and shortening production remained relatively stable over the period from 2007-2018. In the other countries, the average annual rates were as follows: Argentina (+1.2% per year) and Colombia (+6.3% per year).

Exports in Latin America and the Caribbean

In 2018, the exports of margarine and shortening in Latin America and the Caribbean amounted to 271K tonnes, dropping by -5.5% against the previous year. In value terms, margarine and shortening exports amounted to $350M (IndexBox estimates) in 2018. 

Exports by Country

Argentina remians the largest exporter of margarine and shortening exported in Latin America and the Caribbean, with the volume of exports accounting for 107K tonnes, which was approx. 39% of total exports in 2018. Uruguay (30K tonnes) ranks second in terms of the total exports with a 11% share, followed by Mexico (9.9%), Colombia (9.5%), Guatemala (8.4%) and Brazil (5.1%). El Salvador (11K tonnes) took a little share of total exports.

Exports from Argentina decreased at an average annual rate of -4.4% from 2007 to 2018. At the same time, Uruguay (+14.4%), Mexico (+13.4%), Colombia (+7.7%) and Guatemala (+7.5%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.4% from 2007-2018. El Salvador experienced a relatively flat trend pattern. By contrast, Brazil (-5.5%) illustrated a downward trend over the same period. 

In value terms, the largest margarine and shortening exporters in Latin America and the Caribbean were Argentina ($90M), Uruguay ($88M) and Mexico ($41M), together comprising 62% of total exports.

In terms of the main exporting countries, Uruguay recorded the highest growth rate of market size, over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the margarine and shortening export price in Latin America and the Caribbean amounted to $1,289 per tonne, remaining relatively stable against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +1.9%. 

Prices varied noticeably by the country of origin; the country with the highest price was Uruguay ($2,930 per tonne), while Argentina ($842 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by El Salvador, while the other leaders experienced more modest paces of growth.

Imports in Latin America and the Caribbean

In 2018, the margarine and shortening imports in Latin America and the Caribbean amounted to 456K tonnes, surging by 10% against the previous year. Over the period under review, margarine and shortening imports attained their maximum in 2018 and are expected to retain its growth in the immediate term. In value terms, margarine and shortening imports totaled $600M (IndexBox estimates) in 2018. 

Imports by Country

Chile represents the key importer of margarine and shortening imported in Latin America and the Caribbean, with the volume of imports resulting at 149K tonnes, which was near 33% of total imports in 2018. Mexico (55K tonnes) took a 12% share (based on tonnes) of total imports, which put it in second place, followed by Brazil (12%), Colombia (9%) and El Salvador (6.3%). Argentina (18K tonnes), Peru (11K tonnes), Guatemala (11K tonnes), Panama (10K tonnes), Trinidad and Tobago (7.5K tonnes), Nicaragua (7.2K tonnes) and Honduras (7.1K tonnes) followed a long way behind the leaders.

Imports into Chile decreased at an average annual rate of -5.6% from 2007 to 2018. At the same time, El Salvador (+12.0%), Colombia (+12.0%), Honduras (+11.3%), Trinidad and Tobago (+10.8%), Brazil (+10.5%), Argentina (+7.4%), Panama (+6.5%), Mexico (+3.6%) and Guatemala (+3.2%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +12.0% from 2007-2018. Peru and Nicaragua experienced a relatively flat trend pattern. 

In value terms, Chile ($144M), Mexico ($113M) and Brazil ($90M) constituted the countries with the highest levels of imports in 2018, together comprising 58% of total imports. These countries were followed by Colombia, Argentina, El Salvador, Peru, Guatemala, Panama, Trinidad and Tobago, Nicaragua and Honduras, which together accounted for a further 30%.

Import Prices by Country

The margarine and shortening import price in Latin America and the Caribbean stood at $1,316 per tonne in 2018, remaining relatively unchanged against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.8%. 

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Mexico ($2,042 per tonne), while Colombia ($947 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Companies Mentioned

Conagra Brands, Inc.

Bunge Limited

Allianza Team

Molinos Río de la Plata SA.

BRF S.A.

Seara Alimentos S.A.

JBS S.A.

Team Foods Colombia S.A.

Gradesa S.A.

Source: IndexBox AI Platform

Product coverage:
• FCL 1242 - Margarine and Shortening

This report provides an in-depth analysis of the margarine and shortening market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Belize
• Bermuda
• Bolivia
• British Virgin Islands
• Cayman Islands
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Haiti
• Martinique
• Montserrat
• Nicaragua
• Paraguay
• Saint Kitts and Nevis
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bermuda
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Physical Terms, By Country, 2007–2019
Table 7:
Imports, In Value Terms, By Country, 2007–2019
Table 8:
Import Prices, By Country Of Destination, 2007–2019
Table 9:
Exports, In Physical Terms, By Country, 2007–2019
Table 10:
Exports, In Value Terms, By Country, 2007–2019
Table 11:
Export Prices, By Country Of Origin, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2019
Figure 17:
Production, In Value Terms, 2007–2019
Figure 18:
Production, By Country, 2019
Figure 19:
Production, In Physical Terms, By Country, 2007–2019
Figure 20:
Imports, In Physical Terms, 2007–2019
Figure 21:
Imports, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, By Country, 2019
Figure 23:
Imports, In Physical Terms, By Country, 2007–2019
Figure 24:
Imports, In Value Terms, By Country, 2007–2019
Figure 25:
Import Prices, By Country, 2007–2019
Figure 26:
Exports, In Physical Terms, 2007–2019
Figure 27:
Exports, In Value Terms, 2007–2019
Figure 28:
Exports, In Physical Terms, By Country, 2019
Figure 29:
Exports, In Physical Terms, By Country, 2007–2019
Figure 30:
Exports, In Value Terms, By Country, 2007–2019
Figure 31:
Export Prices, 2007–2019

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