Latin America and the Caribbean: Concentrated Grapefruit Juice Market 2022

Concentrated Grapefruit Juice Market Size in Latin America and the Caribbean

The Latin American concentrated grapefruit juice market surged to $X in 2021, growing by 23% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +103.6% against 2017 indices. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Concentrated Grapefruit Juice Production in Latin America and the Caribbean

In value terms, concentrated grapefruit juice production stood at $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Concentrated Grapefruit Juice Exports

Exports in Latin America and the Caribbean

In 2021, the amount of concentrated grapefruit juice exported in Latin America and the Caribbean declined remarkably to X tons, which is down by -59.2% on 2020 figures. In general, exports saw a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 68%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, concentrated grapefruit juice exports contracted markedly to $X in 2021. Over the period under review, exports faced a deep contraction. The growth pace was the most rapid in 2017 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico was the largest exporter of concentrated grapefruit juice in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 51% of total exports in 2021. It was distantly followed by Argentina (X tons) and Paraguay (X tons), together committing a 44% share of total exports. Brazil (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were in Argentina (with a CAGR of +5.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Mexico ($X), Argentina ($X) and Paraguay ($X) constituted the countries with the highest levels of exports in 2021, together comprising 94% of total exports.

In terms of the main exporting countries, Argentina, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, shrinking by -7.9% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concentrated grapefruit juice export price decreased by -14.2% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 53% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Argentina ($X per ton) and Paraguay ($X per ton), while Mexico ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+2.0%), while the other leaders experienced more modest paces of growth.

Concentrated Grapefruit Juice Imports

Imports in Latin America and the Caribbean

Concentrated grapefruit juice imports fell to X tons in 2021, waning by -8.5% against 2020 figures. In general, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, concentrated grapefruit juice imports dropped to $X in 2021. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 26% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bolivia (X tons), Argentina (X tons), Uruguay (X tons) and Panama (X tons) represented the main importer of concentrated grapefruit juice in Latin America and the Caribbean, committing 50% of total import. Trinidad and Tobago (X tons) took the next position in the ranking, followed by Mexico (X tons) and Guatemala (X tons). All these countries together held approx. 18% share of total imports. The following importers - Costa Rica (X tons), Chile (X tons), Brazil (X tons), Saint Lucia (X tons), Paraguay (X tons) and Saint Maarten (Dutch part) (X tons) - together made up 20% of total imports.

From 2012 to 2021, the biggest increases were in Bolivia (with a CAGR of +99.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concentrated grapefruit juice importing markets in Latin America and the Caribbean were Bolivia ($X), Argentina ($X) and Uruguay ($X), together accounting for 50% of total imports.

Bolivia, with a CAGR of +113.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 2.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2019 an increase of 23% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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