Starches market in Latin America and the Caribbean

Earlier Report Observations

The starch market in Latin America and the Caribbean expanded from 3.2 million tonnes in 2018 to 3.8 million tonnes in 2019, driven by abundant raw materials and rising consumer demand for healthier foods, including modified starches as fat substitutes. Market volume stabilized near 3.8 million tonnes in 2020 as the COVID-19 pandemic disrupted supply chains while simultaneously boosting demand for processed and convenience foods, with producers also placing greater emphasis on sustainable and non-GMO starch production.

Post-pandemic growth continued, with the market reaching 4.1 million tonnes in 2021 and a peak of 4.1 million tonnes in 2022. This expansion was supported by significant global investments in production capacity, including Cargill's doubling of cold-water-swelling starch output and Ingredion's commissioning of a state-of-the-art sustainable starch plant. The launch of innovative products like the corn-derived, gluten-free Fybrin RS resistant starch, alongside tightening sustainability regulations and a consumer shift toward clean-label ingredients, further stimulated demand for specialized starches.

In 2023, the market experienced a slight contraction to 4.1 million tonnes, reflecting a market adjustment following the previous period of strong growth.

Production starches in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of starches, 2017-2020

World map of production of starches, 2017-2020

After two years of growth, starch production in Latin America and the Caribbean declined. In 2019, production reached its peak at 3,676 thousand tons, but by 2020 it had fallen to 3,598 thousand tons, representing a modest decrease of 2.1%. Over the period from 2017 to 2020, production increased by 21.4%, which translates to an average annual growth rate of 6.7%. The most significant year-on-year increase occurred in 2019, when production rose by 22.7%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Starch production in Latin America and the Caribbean grew for the third consecutive year. In 2020, the output was valued at 3,122 million US dollars, marking a 4.4% increase compared to the previous year. From 2017 to 2020, production value rose by 41%, with a compound annual growth rate of 12.1%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports starches from Latin America and the Caribbean

Exports in kind, K t

Starch export volumes from Latin America and the Caribbean increased for the second year in a row. In 2019, exports were at 83.5 thousand tons, but by 2020 they had risen to 94.7 thousand tons, showing a 13.4% increase. Over the period from 2017 to 2020, exports decreased by 5.4%, equivalent to an average annual decline of 1.8%. The lowest export volume was recorded in 2018 at 76.6 thousand tons, which represented a significant drop of 23.4% compared to the previous year.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States, Nigeria, and Saudi Arabia were notable but not dominant buyers of starch from Latin America and the Caribbean. The United States accounted for 8.3% of exports in volume, Nigeria for 1.7%, and Saudi Arabia for 1.3%. Together, these three countries represented only 11.4% of total starch exports in volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Starch exports from Latin America and the Caribbean grew in value for the second consecutive year. In 2020, exports totaled 82.1 million US dollars, reflecting a substantial 20.9% increase compared to the previous year. Between 2017 and 2020, export value rose by 9.9%, with an average annual growth rate of 3.2%. The lowest value was recorded in 2018 at 59.6 million US dollars, which marked a decline of 20.2% from the year before.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the geographical distribution of starch exports in value terms was highly diversified. The United States accounted for 12.1% of export value, Nigeria for 1.3%, and Spain for 0.9%. Combined, these three countries represented only 14.3% of total export flows, while the remaining 85.7% was spread across numerous smaller trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports starches to Latin America and the Caribbean

Imports in kind, K t

Starch import volumes into Latin America and the Caribbean increased for the second year in a row. In 2020, imports reached 295.0 thousand tons, up 14.8% from 2019. The lowest import volume was recorded in 2018 at 239.1 thousand tons, which represented a 20.2% decrease compared to the previous year.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

Data from 2017 to 2020 show that starch imports into Latin America and the Caribbean were not heavily concentrated among a few key suppliers. The United States accounted for 21.9% of imports in volume, the Netherlands for 6.4%, and Germany for 6.2%. Together, these three countries represented 34.5% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Starch import values into Latin America and the Caribbean rose for the third consecutive year. In 2020, imports were valued at 223.3 million US dollars, indicating a 6.6% increase compared to the previous year. Over the period from 2017 to 2020, import value grew by 14.7%, with a compound annual growth rate of 4.7%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, starch imports into Latin America and the Caribbean came from a wide range of markets. The United States accounted for 21.3% of import value, Germany for 9.5%, and the Netherlands for 8.8%. Together, these three suppliers represented 39.7% of total import value, while the remaining 60.3% was distributed among many smaller destinations.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020