Latin America and the Caribbean: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Latin America and the Caribbean

For the fourth consecutive year, the Latin American market for protein concentrates and flavoured or coloured sugar syrups recorded growth in sales value, which increased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the near future.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Latin America and the Caribbean

In value terms, production of protein concentrates and flavoured or coloured sugar syrups contracted modestly to $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production of growth failed to regain momentum.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in Latin America and the Caribbean

In 2023, the amount of protein concentrates and flavoured or coloured sugar syrups exported in Latin America and the Caribbean fell to X tons, with a decrease of X% compared with the year before. Total exports indicated noticeable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2022, and then shrank in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank rapidly to $X in 2023. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports of attained the peak figure at $X in 2022, and then reduced notably in the following year.

Exports by Country

In 2023, Argentina (X tons) and Brazil (X tons) was the main exporter of protein concentrates and flavoured or coloured sugar syrups in Latin America and the Caribbean, comprising X% of total export.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Argentina (with a CAGR of X%).

In value terms, Brazil ($X) remains the largest protein concentrate and flavoured or coloured sugar syrup supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Brazil stood at X%.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. Export price indicated a temperate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then fell notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%).

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports in Latin America and the Caribbean

Imports of protein concentrates and flavoured or coloured sugar syrups totaled X tons in 2023, remaining stable against 2022 figures. Over the period under review, imports showed strong growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups fell modestly to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

Chile represented the largest importing country with an import of about X tons, which amounted to X% of total imports. Mexico (X tons) ranks second in terms of the total imports with a X% share, followed by Peru (X%) and Colombia (X%). Guatemala (X tons) followed a long way behind the leaders.

Chile was also the fastest-growing in terms of the protein concentrates and flavoured or coloured sugar syrups imports, with a CAGR of X% from 2012 to 2023. At the same time, Peru (X%), Guatemala (X%), Colombia (X%) and Mexico (X%) displayed positive paces of growth. From 2012 to 2023, the share of Chile and Peru increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Colombia ($X), together comprising X% of total imports.

In terms of the main importing countries, Chile, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, falling by X% against the previous year. Overall, the import price recorded a noticeable slump. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform