Sucrose in solid form market in Peru

Earlier Report Observations

The market for chemically pure sucrose in solid form in Peru reached its peak volume of 936 thousand tons in 2018, after which it contracted for three consecutive years, falling to 795 thousand tons by 2021. This period saw the entry of a new player, Syrus Distribution Peru S.A.C., established in 2018 to import, export, and distribute chemical and petrochemical inputs, intensifying competition in the sector.

Market contraction was particularly sharp in 2021, when domestic production fell to 712 thousand tons. A gradual recovery began in 2022, with market volume rising to 818 thousand tons and reaching 833 thousand tons in 2023. This turnaround coincided with the approval of Legislative Decree No. 1570, which established a comprehensive legal framework for the integrated management of chemical substances, regulating production and import activities to promote more sustainable industry practices.

Further regulatory development came with Supreme Decree No. 031-2023-SA, setting stringent labeling and safety requirements for hazardous chemicals, with enforcement scheduled from June 2024. These measures, alongside investments by domestic chemical suppliers in digital channels and logistics, contributed to a stabilized market environment in the later years of the period.

Production sucrose in solid form in Peru

In kind, 2017-2020, K t

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

Peru's production of sucrose in solid form declined after two consecutive years of growth. In 2020, the country produced 793.0 K t, representing a slight year-over-year decrease of 1.4%. Looking at the period from 2017 to 2020, production increased by 10.8%, which translates to an annualized growth rate of 3.5%. The highest production level was recorded in 2019 at 804.5 K t, while the most significant increase occurred in 2018 with an 11.1% rise.

Annual dynamics of production in Peru in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following two years of decline, Peru's production value of sucrose in solid form rebounded. In 2020, the output was valued at 417.4 M $ US, showing a solid year-over-year advance of 21.5%. Over the 2017-2020 period, production value increased by 9.4%, equivalent to an annualized rate of 3.0%. The lowest value was recorded in 2019 at 343.5 M $ US, with the largest decline occurring in 2018 at 9.6%.

Annual dynamics of production in Peru in value, 2017-2020, M $ US

Exports sucrose in solid form from Peru

Exports in kind, K t

The market exhibited volatility throughout the observed period. Exports reached their lowest point in 2018 at 32.7 K t and peaked in 2020 at 111.1 K t, representing a 3.4-fold difference between these years. In 2020, Peru's exports of sucrose in solid form marked a strong gain of 16.8% compared to the previous year. The largest decline was recorded in 2018 at 4.9%, while the most significant increase occurred in 2019 with a remarkable 190.5% surge.

Annual dynamics of product's exports from Peru in kind, 2017-2020, K t

Between 2017 and 2020, Peru's exports of sucrose in solid form were heavily concentrated on Colombia, which accounted for 78.2% of total flows. The remaining share was distributed among other countries.

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

World map of product's exports from Peru in kind, 2017-2020

Exports in value, M $ US

Market behavior during these years was characterized by volatility. Export values varied significantly, with the low recorded in 2018 at 14.2 M $ US and the high in 2020 at 58.5 M $ US, representing a 4.1-fold difference. In 2020, Peru exported 58.5 M $ US worth of sucrose in solid form, marking a steep year-over-year rise of 44.0%. The largest decline occurred in 2018 at 22.7%, while the most substantial increase was recorded in 2019 with a 186.3% jump.

Annual dynamics of product's exports from Peru in value, 2017-2020, M $ US

From 2017 to 2020, Colombia remained the dominant destination for Peru's exports in value terms, capturing 74.1% of total flows. The remainder was fragmented across various other markets.

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

World map of product's exports from Peru in value, 2017-2020

Imports sucrose in solid form to Peru

Imports in kind, K t

After two years of decline, Peru's imports of sucrose in solid form increased. In 2020, the country imported 193.0 K t, marking an uptick of 13.0% from 2019. Over the 2017-2020 period, imports decreased by 7%, with a compound annual growth rate of -2.4%. The lowest import volume was recorded in 2019 at 170.8 K t, while the largest decline occurred in 2018 at 16.7%.

Annual dynamics of product's imports to Peru in kind, 2017-2020, K t

During 2017-2020, Colombia remained the dominant source for Peru's imports in kind, accounting for 75.0% of total flows. The remainder was distributed across a fragmented array of other markets.

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

World map of product's imports to Peru in kind, 2017-2020

Imports in value, M $ US

Following two years of decrease, Peru's import value of sucrose in solid form rose. In 2020, imports were recorded at 80.7 M $ US, showing a robust advance of 22.4% compared to 2019. Over the 2017-2020 period, import value decreased by 26.5%, with a compound annual growth rate of -9.7%. The minimum value was recorded in 2019 at 66.0 M $ US, while the largest decline occurred in 2018 at 33.7%.

Annual dynamics of product's imports to Peru in value, 2017-2020, M $ US

Between 2017 and 2020, Colombia was the dominant destination for Peru's imports in value terms of sucrose in solid form, accounting for 74.6% of total flows. The remaining share was distributed among a number of smaller markets.

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

World map of product's imports to Peru in value, 2017-2020