Latin America and the Caribbean: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Latin America and the Caribbean

The Latin American butter and dairy spreads market reduced to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated a buoyant 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, consumption decreased by X% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Butter And Dairy Spreads in Latin America and the Caribbean

In value terms, butter and dairy spreads production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Uruguay (X tons), Argentina (X tons) and Costa Rica (X tons), together accounting for X% of total production. Honduras, Bolivia, Paraguay and Colombia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Honduras (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Exports of Butter And Dairy Spreads

Exports in Latin America and the Caribbean

In 2022, shipments abroad of butter and dairy spreads increased by X% to X tons, rising for the fifth consecutive year after five years of decline. Overall, exports, however, recorded a noticeable setback. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, butter and dairy spreads exports soared to $X in 2022. In general, exports saw modest growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Argentina (X tons) and Uruguay (X tons) dominates exports structure, together constituting X% of total exports. The following exporters - Paraguay (X tons), Costa Rica (X tons), Honduras (X tons) and Brazil (X tons) - each amounted to a X% share of total exports.

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

In value terms, the largest butter and dairy spreads supplying countries in Latin America and the Caribbean were Uruguay ($X), Argentina ($X) and Costa Rica ($X), together accounting for X% of total exports. Paraguay, Brazil and Honduras lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Paraguay, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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 period from 2012 to 2022, 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%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

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 Costa Rica ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Imports of Butter And Dairy Spreads

Imports in Latin America and the Caribbean

In 2022, approx. X tons of butter and dairy spreads were imported in Latin America and the Caribbean; which is down by X% compared with the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, butter and dairy spreads imports rose rapidly to $X in 2022. Total imports indicated a tangible 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of butter and dairy spreads, namely Chile, Brazil, Cuba, Mexico, Bahamas, Uruguay, Guatemala, Jamaica, Panama, Peru, Honduras and El Salvador, represented more than two-thirds of total import.

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

In value terms, the largest butter and dairy spreads importing markets in Latin America and the Caribbean were Chile ($X), Brazil ($X) and Mexico ($X), with a combined X% share of total imports. Cuba, Jamaica, Panama, Guatemala, Uruguay, Bahamas, Peru, El Salvador and Honduras lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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 El Salvador ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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