Latin America and the Caribbean: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Latin America and the Caribbean

The Latin American preparations for animal feeding market totaled $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Preparations Used In Animal Feeding in Latin America and the Caribbean

In value terms, preparations for animal feeding production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Preparations Used In Animal Feeding

Exports in Latin America and the Caribbean

In 2023, overseas shipments of preparations used in animal feeding decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, preparations for animal feeding exports declined to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then declined in the following year.

Exports by Country

In 2023, Brazil (X tons), distantly followed by Peru (X tons), Argentina (X tons), Guatemala (X tons), Honduras (X tons), Ecuador (X tons) and Mexico (X tons) were the main exporters of preparations used in animal feeding, together generating X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Honduras (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest preparations for animal feeding supplying countries in Latin America and the Caribbean were Brazil ($X), Peru ($X) and Argentina ($X), together comprising X% of total exports. Guatemala, Mexico, Honduras and Ecuador lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Honduras, with a CAGR of X%, saw 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 2023, the export price in Latin America and the Caribbean amounted to $X per ton, waning by X% against the previous year. Export price indicated strong growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, preparations for animal feeding export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports in Latin America and the Caribbean

In 2023, the amount of preparations used in animal feeding imported in Latin America and the Caribbean fell to X tons, declining by X% on the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, preparations for animal feeding imports declined to $X in 2023. Total imports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

The purchases of the twelve major importers of preparations used in animal feeding, namely Chile, Ecuador, Mexico, Colombia, Peru, Brazil, Guatemala, Panama, Honduras, Trinidad and Tobago, Uruguay and Costa Rica, represented more than two-thirds of total import. Nicaragua (X tons) took a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key 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 preparations for animal feeding importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Ecuador ($X), together accounting for X% of total imports. Brazil, Colombia, Peru, Panama, Guatemala, Costa Rica, Honduras, Nicaragua, Uruguay and Trinidad and Tobago lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell modestly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform