Report Update: May 1, 2024

Colombia - Candles And Tapers - Market Analysis, Forecast, Size, Trends And Insights

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Candles and Tapers Price in Colombia - 2022

Candles and Tapers Price in Colombia (CIF) - 2022

The average candles and tapers import price stood at $4,968 per ton in February 2022, jumping by 38% against the previous month. Overall, import price indicated perceptible growth from February 2021 to February 2022: its price increased at an average monthly rate of +4.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2022 figures, candles and tapers import price decreased by -8.6% against October 2021 indices. The pace of growth appeared the most rapid in March 2021 an increase of 43% m-o-m. Over the period under review, average import prices attained the maximum at $5,436 per ton in October 2021; however, from November 2021 to February 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In February 2022, the country with the highest price was the United States ($15,074 per ton), while the price for China ($4,101 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Candles and Tapers Price in Colombia (FOB) - 2022

In 2022, the average candles and tapers export price amounted to $4,204 per ton, remaining relatively unchanged against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, candles and tapers export price decreased by -3.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $6,181 per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($14,346 per ton), while the average price for exports to Ecuador ($1,979 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Candles and Tapers Imports in Colombia

In 2022, the amount of candles and tapers imported into Colombia shrank to 692 tons, with a decrease of -14.4% against the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. As a result, imports reached the peak of 809 tons, and then shrank in the following year.

In value terms, candles and tapers imports fell markedly to $2.9M in 2022. Over the period under review, total imports indicated tangible growth from 2019 to 2022: its value increased at an average annual rate of +4.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of $3.5M, and then dropped rapidly in the following year.

Import of Candles and Tapers in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	1,545	1,435	2,227	1,835	5.9%
United States	381	401	634	523	11.1%
Canada	266	227	386	318	6.1%
Others	294	198	216	187	-14.0%
Total	2,486	2,261	3,463	2,862	4.8%

Top Suppliers of Candles and Tapers to Colombia in 2022:

China (519.9 tons)
Canada (98.2 tons)
United States (50.6 tons)

Candles and Tapers Exports in Colombia

In 2022, the amount of candles and tapers exported from Colombia reduced to 89 tons, which is down by -11.4% against 2021 figures. Over the period under review, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 34%.

In value terms, candles and tapers exports fell to $376K in 2022. Overall, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 29% against the previous year.

Export of Candles and Tapers in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	202	124	139	135	-12.6%
Costa Rica	41.4	46.7	80.0	71.6	20.0%
Panama	68.1	73.8	78.5	70.2	1.0%
Ecuador	72.7	34.4	29.1	39.7	-18.3%
Peru	36.6	34.4	43.1	38.6	1.8%
Aruba	1.9	5.2	16.8	15.1	99.6%
Venezuela	37.0	N/A	5.6	N/A	-61.1%
Others	11.4	9.5	31.8	5.2	-23.0%
Total	471	328	424	376	-7.2%

Top Export Markets for Candles and Tapers from Colombia in 2022:

Panama (26.2 tons)
United States (24.5 tons)
Ecuador (20.1 tons)
Peru (8.1 tons)
Costa Rica (5.0 tons)
Aruba (4.6 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the candles and tapers market in Colombia. 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 2030.

Product coverage:

Prodcom 32995400 - Candles, tapers and the like (including night lights fitted with a float) (excluding anti-asthmatic candles, wax matches or vestas, sulphur-treated bands, wicks and candles)

Country coverage:

Colombia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023