Panama: Saccharin Market 2024

Saccharin Market Size in Panama

The Panamanian saccharin market shrank to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Saccharin consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Saccharin Production in Panama

In value terms, saccharin production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight increase. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Saccharin production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Saccharin Exports

Exports from Panama

In 2022, overseas shipments of saccharin and its salts increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports posted a modest expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, saccharin exports expanded markedly to $X in 2022. Over the period under review, exports saw a resilient expansion. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Venezuela (X tons), Guatemala (X kg) and Costa Rica (X kg) were the main destinations of saccharin exports from Panama, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Costa Rica ($X), Guatemala ($X) and Venezuela ($X) appeared to be the largest markets for saccharin exported from Panama worldwide, with a combined X% share of total exports.

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average saccharin export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a resilient expansion 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, saccharin export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (X%), while the prices for the other major destinations experienced more modest paces of growth.

Saccharin Imports

Imports into Panama

In 2022, saccharin imports into Panama skyrocketed to X tons, growing by X% against the year before. Over the period under review, imports, however, faced a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, saccharin imports surged to $X in 2022. Overall, imports, however, continue to indicate a abrupt shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of saccharin to Panama, with a X% share of total imports. Moreover, saccharin imports from South Korea exceeded the figures recorded by the second-largest supplier, Costa Rica (X kg), threefold. The third position in this ranking was held by China (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and China (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of saccharin and its salts to Panama, comprising X% of total imports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and China (X% per year).

Import Prices by Country

The average saccharin import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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