Latin America and the Caribbean: Hop Market 2024

Hop Market Size in Latin America and the Caribbean

The Latin American hop market declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate strong growth. As a result, consumption reached the peak level of $X, and then fell modestly in the following year.

Hop Production in Latin America and the Caribbean

In value terms, hop production shrank to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of hop production was Argentina (X tons), comprising approx. X% of total volume. Moreover, hop production in Argentina exceeded the figures recorded by the second-largest producer, Mexico (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Argentina was relatively modest.

The average hop yield dropped to X tons per ha in 2022, with a decrease of X% compared with 2021 figures. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the hop yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of hops in Latin America and the Caribbean amounted to X ha, stabilizing at the previous year's figure. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.

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Hop Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded decline in shipments abroad of hops, which decreased by X% to X tons in 2022. Overall, exports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, hop exports declined notably to $X in 2022. In general, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Uruguay (X tons) were the key exporters of hops in 2022, accounting for approx. X% and X% of total exports, respectively. Ecuador (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (X%) and Peru (X%). The following exporters - Argentina (X kg) and Chile (X kg) - each recorded a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) emerged as the largest hop supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Uruguay ($X), with a X% share of total exports. It was followed by Ecuador, with an X% share.

In Brazil, hop exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Uruguay (X% per year) and Ecuador (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price recorded a mild contraction. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced more modest paces of growth.

Hop Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of hops were imported in Latin America and the Caribbean; standing approx. at the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, hop imports declined to $X in 2022. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Brazil (X tons) was the major importer of hops, generating X% of total imports. Mexico (X tons) ranks second in terms of the total imports with a X% share, followed by Argentina (X%), Colombia (X%) and Peru (X%). The following importers - Ecuador (X tons) and Chile (X tons) - each reached a X% share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Chile (X%), Mexico (X%), Argentina (X%) and Peru (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Ecuador and Colombia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico, Argentina and Chile increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported hops in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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