MERCOSUR: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in MERCOSUR

In 2023, the MERCOSUR yoghurt and fermented milk market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in years to come.

Production of Yoghurt and Fermented Milk in MERCOSUR

In value terms, yoghurt and fermented milk production expanded markedly 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 indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of production peaked in 2023 and is expected to retain growth in the near future.

Argentina (X tons) constituted the country with the largest volume of yoghurt and fermented milk production, accounting for X% of total volume.

In Argentina, yoghurt and fermented milk production expanded at an average annual rate of X% over the period from 2012-2023.

Exports of Yoghurt and Fermented Milk

Exports in MERCOSUR

In 2023, shipments abroad of yoghurt and fermented milk decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, yoghurt and fermented milk exports expanded significantly to $X in 2023. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to continue growth in the immediate term.

Exports by Country

In 2023, Uruguay (X tons) was the main exporter of yoghurt and fermented milk, committing X% of total exports. It was distantly followed by Chile (X tons), Colombia (X tons), Brazil (X tons) and Argentina (X tons), together mixing up a X% share of total exports. Peru (X tons) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to yoghurt and fermented milk exports from Uruguay stood at X%. At the same time, Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Brazil (X%), Argentina (X%) and Peru (X%) illustrated a downward trend over the same period. Chile (X p.p.), Colombia (X p.p.) and Uruguay (X p.p.) significantly strengthened its position in terms of the total exports, while Peru and Argentina saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uruguay ($X) remains the largest yoghurt and fermented milk supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Colombia, with an X% share.

In Uruguay, yoghurt and fermented milk exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Chile (X% per year) and Colombia (X% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2023, with an increase of X% against the previous year. Export price indicated a resilient expansion 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, yoghurt and fermented milk export price increased by X% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Imports of Yoghurt and Fermented Milk

Imports in MERCOSUR

In 2023, after two years of growth, there was significant decline in supplies from abroad of yoghurt and fermented milk, when their volume decreased by X% to X tons. Over the period under review, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, yoghurt and fermented milk imports reduced modestly to $X in 2023. In general, imports showed a mild curtailment. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Peru (X tons) and Brazil (X tons) represented roughly X% of total imports in 2023. Uruguay (X tons) ranks next in terms of the total imports with an X% share, followed by Suriname (X%). Guyana (X tons), Colombia (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guyana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Peru ($X) and Uruguay ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Colombia, Guyana, Suriname and Chile lagged somewhat behind, together accounting for a further X%.

Guyana, with a CAGR of X%, saw 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 2023, the import price in MERCOSUR amounted to $X per ton, rising by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, yoghurt and fermented milk import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform