Latin America and the Caribbean: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Market Size in Latin America and the Caribbean

In 2022, the Latin American tapioca and substitutes market increased by X% to $X, rising for the second consecutive year after three years of decline. In general, consumption showed strong growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Tapioca And Substitutes Production in Latin America and the Caribbean

In value terms, tapioca and substitutes production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tapioca And Substitutes Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of tapioca and substitutes were exported in Latin America and the Caribbean; growing by X% compared with the previous year. Total exports 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, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, tapioca and substitutes exports expanded sharply to $X in 2022. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. The following exporters - the Dominican Republic (X tons) and Venezuela (X tons) - together made up X% of total exports.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Venezuela (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, the Dominican Republic (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest tapioca and substitutes supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to X%. In the other countries, the average annual rates were as follows: the Dominican Republic (X% per year) and Venezuela (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a 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 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 the Dominican Republic (X%), while the other leaders experienced mixed trends in the export price figures.

Tapioca And Substitutes Imports

Imports in Latin America and the Caribbean

For the third consecutive year, LatAmerica and the Caribbean recorded growth in supplies from abroad of tapioca and substitutes, which increased by X% to X tons in 2022. In general, imports enjoyed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapioca and substitutes imports surged to $X in 2022. Overall, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. Paraguay (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Suriname (X%). Trinidad and Tobago (X tons), Guyana (X tons), Ecuador (X tons), Costa Rica (X tons), Argentina (X tons), Chile (X tons), Uruguay (X tons) and Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tapioca and substitutes imports into Mexico stood at X%. At the same time, Guatemala (X%), Paraguay (X%), Chile (X%), Costa Rica (X%), Argentina (X%), Uruguay (X%) and Trinidad and Tobago (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Ecuador (X%), Guyana (X%) and Suriname (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Paraguay (X p.p.), Chile (X p.p.) and Guatemala (X p.p.) significantly strengthened its position in terms of the total imports, while Ecuador, Guyana and Suriname saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported tapioca and substitutes in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Paraguay ($X), with a X% share of total imports. It was followed by Trinidad and Tobago, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Paraguay (X% per year) and Trinidad and Tobago (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price 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, tapioca and substitutes import price increased by X% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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