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

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

The Colombian market for protein concentrates and flavoured or coloured sugar syrups was estimated at $X in 2023, almost unchanged from the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

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

In value terms, production of protein concentrates and flavoured or coloured sugar syrups rose slightly to $X in 2023 estimated in export price. Overall, production saw a perceptible decrease. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Colombia

After two years of growth, shipments abroad of protein concentrates and flavoured or coloured sugar syrups decreased by X% to X tons in 2023. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank markedly to $X in 2023. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Colombia, with a X% share of total exports. Moreover, exports of protein concentrates and flavoured or coloured sugar syrups to Ecuador exceeded the volume sent to the second major destination, Jamaica (X tons), twofold. The third position in this ranking was held by Antigua and Barbuda (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Ecuador totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (X% per year) and Antigua and Barbuda (X% per year).

In value terms, the largest markets for protein concentrate and flavoured or coloured sugar syrup exported from Colombia were Ecuador ($X), Bolivia ($X) and Jamaica ($X), together accounting for X% of total exports. Panama, Venezuela, Costa Rica, Antigua and Barbuda, Peru, Guatemala, Curacao, Suriname and Saint Lucia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Peru, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for protein concentrates and flavoured or coloured sugar syrups stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price recorded modest growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Antigua and Barbuda ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Colombia

After two years of growth, purchases abroad of protein concentrates and flavoured or coloured sugar syrups decreased by X% to X tons in 2023. Overall, total imports indicated strong growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups reduced to $X in 2023. In general, total imports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, Brazil (X tons) constituted the largest protein concentrate and flavoured or coloured sugar syrup supplier to Colombia, accounting for a X% share of total imports. Moreover, imports of protein concentrates and flavoured or coloured sugar syrups from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Argentina (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Brazil amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Argentina (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of protein concentrates and flavoured or coloured sugar syrups to Colombia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the United States (X% per year).

Import Prices by Country

In 2023, the average import price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform