Latin America and the Caribbean: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Latin America and the Caribbean

The Latin American market for manufactured tobacco, extracts and essences fell markedly to $X in 2023, declining by X% against the previous year. Over the period under review, consumption recorded a deep contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Manufactured Tobacco, Extracts And Essences in Latin America and the Caribbean

In value terms, manufactured tobacco, extracts and essences production reduced modestly to $X in 2023 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2023: its value 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, production increased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Exports of Manufactured Tobacco, Extracts And Essences

Exports in Latin America and the Caribbean

In 2023, overseas shipments of manufactured tobacco, extracts and essences were finally on the rise to reach X tons after three years of decline. In general, exports, however, continue to indicate a slight curtailment. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, manufactured tobacco, extracts and essences exports skyrocketed to $X in 2023. Over the period under review, exports, however, showed a perceptible slump. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

The Dominican Republic represented the major exporter of manufactured tobacco, extracts and essences in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Brazil (X tons), constituting a X% share of total exports. Venezuela (X tons) and Paraguay (X tons) held a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Dominican Republic (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the Dominican Republic ($X) remains the largest manufactured tobacco, extracts and essences supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Venezuela, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the Dominican Republic totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Venezuela (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then shrank significantly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the other leaders experienced a decline in the export price figures.

Imports of Manufactured Tobacco, Extracts And Essences

Imports in Latin America and the Caribbean

After nine years of decline, purchases abroad of manufactured tobacco, extracts and essences increased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences imports skyrocketed to $X in 2023. In general, imports, however, saw a perceptible reduction. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the Dominican Republic (X tons) represented the main importer of manufactured tobacco, extracts and essences, creating X% of total imports. Argentina (X tons) ranks second in terms of the total imports with a X% share, followed by Brazil (X%) and Colombia (X%). Nicaragua (X tons), Paraguay (X tons) and Uruguay (X tons) followed a long way behind the leaders.

Imports into the Dominican Republic decreased at an average annual rate of X% from 2012 to 2023. At the same time, Nicaragua (X%), Brazil (X%) and Uruguay (X%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Colombia (X%), Argentina (X%) and Paraguay (X%) illustrated a downward trend over the same period. The Dominican Republic (X p.p.), Brazil (X p.p.), Nicaragua (X p.p.), Colombia (X p.p.) and Uruguay (X p.p.) significantly strengthened its position in terms of the total imports, while Paraguay and Argentina saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported manufactured tobacco, extracts and essences in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2023, the average annual growth rate of value in the Dominican Republic amounted to X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price saw buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform