Latin America and the Caribbean: Concentrated Orange Juice Market 2024

Concentrated Orange Juice Market Size in Latin America and the Caribbean

In 2021, the Latin American concentrated orange juice market decreased by -0.6% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +21.5% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2020, and then declined slightly in the following year.

Concentrated Orange Juice Production in Latin America and the Caribbean

In value terms, concentrated orange juice production expanded remarkably to $X in 2021 estimated in export price. In general, production saw a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Concentrated Orange Juice Exports

Exports in Latin America and the Caribbean

In 2021, after two years of decline, there was growth in overseas shipments of concentrated orange juice, when their volume increased by 2.8% to X tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 14% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, concentrated orange juice exports amounted to $X in 2021. Overall, exports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 14%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil was the major exporting country with an export of about X tons, which resulted at 80% of total exports. It was distantly followed by Mexico (X tons), committing a 13% share of total exports. The following exporters - Costa Rica (X tons) and Belize (X tons) - together made up 5.1% of total exports.

From 2012 to 2021, average annual rates of growth with regard to concentrated orange juice exports from Brazil stood at -2.0%. At the same time, Costa Rica (+15.5%) and Mexico (+7.7%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +15.5% from 2012-2021. By contrast, Belize (-19.9%) illustrated a downward trend over the same period. While the share of Mexico (+6.8 p.p.), Costa Rica (+2.6 p.p.) and Belize (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-9.2 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest concentrated orange juice supplier in Latin America and the Caribbean, comprising 78% of total exports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total exports. It was followed by Costa Rica, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value in Brazil amounted to -5.6%. In the other countries, the average annual rates were as follows: Mexico (+3.1% per year) and Costa Rica (+7.6% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 6.6% against the previous year. Over the period under review, the export price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belize (-1.1%), while the other leaders experienced a decline in the export price figures.

Concentrated Orange Juice Imports

Imports in Latin America and the Caribbean

After two years of decline, purchases abroad of concentrated orange juice increased by 21% to X tons in 2021. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 22% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, concentrated orange juice imports soared to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Dominican Republic (X tons) and Chile (X tons) were the largest importers of concentrated orange juice in Latin America and the Caribbean, together recording near 38% of total imports. Jamaica (X tons) held the next position in the ranking, followed by Argentina (X tons), Panama (X tons) and Honduras (X tons). All these countries together took near 31% share of total imports. Saint Lucia (X tons), Colombia (X tons), Costa Rica (X tons), Trinidad and Tobago (X tons), Guatemala (X tons), Venezuela (X tons) and Barbados (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +102.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest concentrated orange juice importing markets in Latin America and the Caribbean were the Dominican Republic ($X), Chile ($X) and Argentina ($X), together accounting for 47% of total imports. Panama, Honduras, Jamaica, Venezuela, Colombia, Costa Rica, Saint Lucia, Trinidad and Tobago, Guatemala and Barbados lagged somewhat behind, together accounting for a further 43%.

In terms of the main importing countries, Panama, with a CAGR of +111.8%, saw the highest growth rate of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decline. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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