Latin America and the Caribbean: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Latin America and the Caribbean

In 2022, the Latin American market for manufactured tobacco, extracts and essences increased by X% to $X, rising for the third consecutive year after four years of decline. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Manufactured Tobacco, Extracts And Essences in Latin America and the Caribbean

In value terms, manufactured tobacco, extracts and essences production amounted to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Exports of Manufactured Tobacco, Extracts And Essences

Exports in Latin America and the Caribbean

In 2022, overseas shipments of manufactured tobacco, extracts and essences decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, exports recorded a noticeable setback. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences exports dropped to $X in 2022. Over the period under review, exports showed a pronounced decrease. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the largest exporter of manufactured tobacco, extracts and essences in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. The Dominican Republic (X tons) ranks second in terms of the total exports with a X% share, followed by Mexico (X%) and Venezuela (X%). Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to manufactured tobacco, extracts and essences exports from Brazil stood at X%. At the same time, Mexico (X%) and the Dominican Republic (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Paraguay (X%) and Venezuela (X%) illustrated a downward trend over the same period. The Dominican Republic (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X), Brazil ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced a decline in the export price figures.

Imports of Manufactured Tobacco, Extracts And Essences

Imports in Latin America and the Caribbean

In 2022, purchases abroad of manufactured tobacco, extracts and essences decreased by X% to X tons, falling for the seventh year in a row after four years of growth. In general, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences imports shrank significantly to $X in 2022. Over the period under review, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The Dominican Republic (X tons), Argentina (X tons), Brazil (X tons), Mexico (X tons) and Paraguay (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Nicaragua (X tons), committing a X% share of total imports. Colombia (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported manufactured tobacco, extracts and essences in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Colombia ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

In the Dominican Republic, manufactured tobacco, extracts and essences imports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the 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, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then shrank slightly in the following year.

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

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

Source: IndexBox Platform

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