Latin America and the Caribbean: Caramel Market 2022

Caramel Market Size in Latin America and the Caribbean

The Latin American caramel market dropped to $X in 2020, waning by -X% against the previous year. Over the period under review, consumption showed a slight shrinkage. The pace of growth was the most pronounced in 2017 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2007; however, from 2008 to 2020, consumption stood at a somewhat lower figure.

Caramel Production in Latin America and the Caribbean

In value terms, caramel production shrank to $X in 2020 estimated in export prices. Overall, production, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2007; however, from 2008 to 2020, production stood at a somewhat lower figure.

Production By Country in Latin America and the Caribbean

The country with the largest volume of caramel production was Brazil (X tons), comprising approx. X% of total volume. Moreover, caramel production in Brazil exceeded the figures recorded by the second-largest producer, Nicaragua (X tons), threefold. Argentina (X tons) ranked third in terms of total production with a X% share.

In Brazil, caramel production shrank by an average annual rate of -X% over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: Nicaragua (+X% per year) and Argentina (-X% per year).

Caramel Exports

Exports in Latin America and the Caribbean

In 2020, exports of caramel in Latin America and the Caribbean skyrocketed to X tons, picking up by X% on the year before. Total exports indicated tangible growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. Over the period under review, exports hit record highs in 2020 and are expected to retain growth in years to come.

In value terms, caramel exports reduced to $X in 2020. Total exports indicated a moderate increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2010 when exports increased by X% year-to-year. The level of export peaked at $X in 2013; however, from 2014 to 2020, exports remained at a lower figure.

Exports by Country

Nicaragua represented the major exporting country with an export of around X tons, which amounted to X% of total exports. Argentina (X tons) occupied a X% share (based on tons) of total exports, which put it in second place, followed by Brazil (X%), Chile (X%) and Costa Rica (X%). Mexico (X tons) took a little share of total exports.

Nicaragua was also the fastest-growing in terms of the caramel exports, with a CAGR of +X% from 2007 to 2020. At the same time, Chile (+X%), Costa Rica (+X%) and Argentina (+X%) displayed positive paces of growth. Brazil experienced a relatively flat trend pattern. By contrast, Mexico (-X%) illustrated a downward trend over the same period. Nicaragua (+X p.p.), Argentina (+X p.p.), Chile (+X p.p.) and Costa Rica (+X p.p.) significantly strengthened its position in terms of the total exports, while Mexico and Brazil saw its share reduced by -X% and -X% from 2007 to 2020, respectively.

In value terms, Nicaragua ($X), Chile ($X) and Argentina ($X) appeared to be the countries with the highest levels of exports in 2020, together comprising X% of total exports.

In terms of the main exporting countries, Nicaragua 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 caramel export price in Latin America and the Caribbean stood at $X per ton in 2020, falling by -X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the export price increased by X% against the previous year. Over the period under review, export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Nicaragua, while the other leaders experienced more modest paces of growth.

Caramel Imports

Imports in Latin America and the Caribbean

In 2020, imports of caramel in Latin America and the Caribbean contracted to X tons, with a decrease of -X% against 2019 figures. Total imports indicated resilient growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

In value terms, caramel imports fell significantly to $X in 2020. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2020, imports remained at a lower figure.

Imports by Country

Mexico represented the key importing country with an import of about X tons, which accounted for X% of total imports. Chile (X tons) held the second position in the ranking, distantly followed by Peru (X tons), Costa Rica (X tons) and Brazil (X tons). All these countries together took approx. X% share of total imports. Argentina (X tons), Colombia (X tons), Bolivia (X tons), Jamaica (X tons), the Dominican Republic (X tons) and Uruguay (X tons) occupied a minor share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Brazil, while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Brazil ($X) were the countries with the highest levels of imports in 2020, together accounting for X% of total imports. These countries were followed by Peru, Costa Rica, Argentina, Colombia, the Dominican Republic, Jamaica, Bolivia and Uruguay, which together accounted for a further X Dominican Republic saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the caramel import price in Latin America and the Caribbean amounted to $X per ton, waning by -X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Peru, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform

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