South America Lime Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 44.30 Million |
| Market Size (2029) | USD 52.70 Million |
| CAGR (2024 - 2029) | 3.50 % |
South America Lime Market Analysis
The South America Lime Market size is estimated at USD 44.30 million in 2024, and is expected to reach USD 52.70 million by 2029, at a CAGR of 3.5% during the forecast period (2024-2029).
Argentina, Brazil, and Colombia stand out as the leading lime producers in South America according to the ITC trade map. These countries cultivate various lime types, with Citrus Latifolia and Citrus Aurantifolia being the most prominent. Citrus latifolia, commonly referred to as Tahitian or Persian limes, are larger, consistently colored, and predominantly cultivated in Brazil and Mexico's Gulf Coast. In contrast, Citrus Aurantifolia, known as key limes, are smaller, firmer, and mainly grown in Mexico and Peru. The growing yield of lime per hectare supports the market. As per FAOSTAT, the yield of lime in South America was 22,751 kg/ha in 2021 which grew to 23,089 kg/ha in 2022.
Limes serve as a crucial raw ingredient in numerous food processing and industrial applications throughout the region. Various beverage and chemical industries consistently source limes, leading to product launches. For example, in 2022, Britvic Mixers debuted two flavored beverages in Brazil namely Green Apple and Pink Lemonade. Notably, the Pink Lemonade melds the tanginess of lemon with strawberry sweetness, crafting a refreshing drink. Such product innovations significantly boost lime consumption, propelling market growth. Over time, seasonal fluctuations have led to time-specific lime and lime product consumption, keeping the market dynamic and progressing.
Moreover, there's a surging global appetite for South American limes, sparking an export surge and bolstering the market. Despite their high juice yield and unique flavor, which elevate their international value, only 6% of Colombia's lime output is exported, as per the Colombian Institute of Agriculture (ICA). This limited exportation could cap market potential. Nonetheless, the rising global demand, coupled with increased production and export potential of South American limes, is set to drive market growth in the coming years.
South America Lime Market Trends
Argentina Dominates Production in the Region
Argentina leads South America in lime production, with Brazil in second place, followed by Peru, Chile, and Colombia. According to the Food and Agricultural Organization (FAOSTAT), Argentina accounts for 40% of the region's total lime production, trailed by Brazil at 36%, Peru at 7.7%, Chile at 5%, and Colombia at 4.5% in 2022. The primary lemon-growing provinces in Argentina are Tucuman, Salta, and Jujuy in the northwest, with some production in the northeast. Tucuman stands out, producing maximum of Argentina's limes. The main lemon varieties cultivated include Eureka Frost, Lisboa Frost, Limoneira 8A, and Genova EEAT. Furthermore, Argentina ranks as the world's fourth-largest lime producer.
Significantly, 70% to 75% of Argentina's lemon yield is now channelled towards producing processed lemon products, such as essential oils, frozen pulp, and dehydrated peel, which are destined for exports according to a report by the United States Department of Agriculture in 2024. The robust demand for limes, combined with favourable growing conditions, seasonal advantages, and available land, is propelling Argentina's lime market.
Over recent years, the harvested area for limes in Argentina has expanded. Data from the Food and Agriculture Organization (FAO) indicates that the harvested lime area grew from 34,610 hectares in 2020 to 53,742 hectares in 2022. Techniques like tree removal and resetting are anticipated to further boost both the harvested area and lime productivity, as noted by the USDA. As the harvested area expanded, production rose from 1.1 million metric tons in 2020 to 1.8 million metric tons in 2022, according to FAOSTAT. Given the favourable growing conditions, surging demand, and expanding harvested area, Argentina's lime production is poised for continued growth in the coming years.
Brazil's Lime Export Potential is on the Rise
Brazil stands as South America's leading exporter of lime and ranks seventh globally. Lime, notably Brazil's third most significant export fruit, dominates the country's fresh citrus exports. With diverse climates across its lime-growing regions, Brazil ensures a consistent supply. For instance, data from the ITC trade map reveals that Brazil's lime exports surged from USD 152 million in 2022 to USD 174 million in 2023. Most lime shipments depart via sea freight from São Paulo's port, though some utilize air freight.
European Union nations are the primary destinations for Brazilian limes, with the Netherlands, the United Kingdom, and Spain leading the pack. According to ITC trade map data, these three countries represent 77.3%, 14.8%, and 1.2% of Brazil's total lime exports, respectively in 2023. Brazil's market share in these regions is on the rise, fueled by robust demand and heightened competitiveness in production. This edge stems from enhanced productivity and a favorable euro/real exchange rate. Notably, European buyers are prioritizing the juiciness of Brazilian limes over the cosmetic attributes of limes from other sources. Moreover, Brazil benefits from contract-based trading practices, as European importers value a consistent and reliable supply. Consequently, the uptick in exports during the study period, combined with the robust demand in European markets, propels the market's growth during the forecast period.
South America Lime Market News
- March 2024: Save Foods, Inc., a leading Agri-Food Tech company focused on sustainable agricultural solutions and plant-based foods, has entered into a partnership with Citrus Tree, a top producer and exporter of Tahiti limes in Brazil. This collaboration aims to showcase the effectiveness of Save Foods' solutions in combating harmful pathogens and reducing pesticide residues on the limes. This not only extends the fruit's shelf life but also significantly reduces waste.
- July 2023: Novo Fogo Organic Cachaca has unveiled a new line of Brazilian canned cocktails, allowing consumers to savour a carbonated twist on Brazil's national drink, the Caipirinha. These Novo Fogo Brazilian Organic Cocktails, are available in three tropical flavours namely Lime, Passion Fruit, and Mango which are USDA-certified organic.
- June 2023: Brazil has introduced three new citrus varieties, thanks to a research partnership among Embrapa, the Coopercitrus Credicitrus Foundation, and the Sylvio Moreira Citriculture Center (affiliated with the Agronomic Institute). The "Ponta Firme" Tahiti lemon is one of these new varieties.
South America Lime Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Expanding Lime Production Areas
4.2.2 Rising Use of Lime in Food Processing Industries
4.2.3 Increasing Export Potential of Lime
4.3 Market Restraints
4.3.1 Increased Vulnerability to Pests and Diseases
4.3.2 Fluctuating Lime Prices
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography
5.1.1 Argentina
5.1.1.1 Production Analysis
5.1.1.2 Consumption Analysis and Market Value
5.1.1.3 Import Market Analysis (Volume and Value)
5.1.1.4 Export Market Analysis (Volume and Value)
5.1.1.5 Price Trend Analysis
5.1.2 Brazil
5.1.2.1 Production Analysis
5.1.2.2 Consumption Analysis and Market Value
5.1.2.3 Import Market Analysis (Volume and Value)
5.1.2.4 Export Market Analysis (Volume and Value)
5.1.2.5 Price Trend Analysis
5.1.3 Peru
5.1.3.1 Production Analysis
5.1.3.2 Consumption Analysis and Market Value
5.1.3.3 Import Market Analysis (Volume and Value)
5.1.3.4 Export Market Analysis (Volume and Value)
5.1.3.5 Price Trend Analysis
5.1.4 Colombia
5.1.4.1 Production Analysis
5.1.4.2 Consumption Analysis and Market Value
5.1.4.3 Import Market Analysis (Volume and Value)
5.1.4.4 Export Market Analysis (Volume and Value)
5.1.4.5 Price Trend Analysis
5.1.5 Chile
5.1.5.1 Production Analysis
5.1.5.2 Consumption Analysis and Market Value
5.1.5.3 Import Market Analysis (Volume and Value)
5.1.5.4 Export Market Analysis (Volume and Value)
5.1.5.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Lime Industry Segmentation
Limes are sour, round, and bright green citrus fruits. The South America Lime Market is segmented by Geography (Argentina, Brazil, Peru, Colombia, Rest of South America). The report provides an analysis of Production (Volume), Consumption (Volume and Value), Import (Volume and Value), Export (Volume and Value), and Price Trends for all the geographies. The report offers market size and forecasts in terms of value (USD) and Volume (metric tons) for all the above segments.
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South America Lime Market Research FAQs
How big is the South America Lime Market?
The South America Lime Market size is expected to reach USD 44.30 million in 2024 and grow at a CAGR of 3.5% to reach USD 52.70 million by 2029.
What is the current South America Lime Market size?
In 2024, the South America Lime Market size is expected to reach USD 44.30 million.
What years does this South America Lime Market cover, and what was the market size in 2023?
In 2023, the South America Lime Market size was estimated at USD 42.75 million. The report covers the South America Lime Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Lime Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Lime Industry Report
Statistics for the 2024 South America Lime market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Lime analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
