Latin America and the Caribbean: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Latin America and the Caribbean

The Latin American industrial bakery machinery market skyrocketed to $X in 2023, picking up by X% against the previous year. Overall, consumption, however, showed a mild setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Industrial Bakery Machinery Production in Latin America and the Caribbean

In value terms, industrial bakery machinery production reached $X in 2023 estimated in export price. In general, production saw a pronounced decline. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Industrial Bakery Machinery Exports

Exports in Latin America and the Caribbean

In 2023, industrial bakery machinery exports in Latin America and the Caribbean reduced to X units, shrinking by X% against the previous year's figure. In general, exports recorded a pronounced downturn. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, industrial bakery machinery exports reached $X in 2023. Over the period under review, exports continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Brazil was the key exporter of industrial bakery machinery in Latin America and the Caribbean, with the volume of exports recording X units, which was approx. X% of total exports in 2023. Mexico (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (X%). Peru (X units), Colombia (X units), Chile (X units) and the Dominican Republic (X units) held a minor share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of industrial bakery machinery. At the same time, the Dominican Republic (X%) and Colombia (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Mexico (X%), Argentina (X%), Chile (X%) and Peru (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Mexico (X p.p.), Argentina (X p.p.) and Peru (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial bakery machinery supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), together accounting for X% of total exports. Colombia, Chile, Peru and the Dominican Republic lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, the Dominican Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the Dominican Republic ($X per unit) 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.

Industrial Bakery Machinery Imports

Imports in Latin America and the Caribbean

In 2023, the amount of industrial bakery machinery imported in Latin America and the Caribbean soared to X units, with an increase of X% against 2022 figures. Total imports indicated a noticeable increase from 2012 to 2023: its volume 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. The volume of import peaked at X units in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, industrial bakery machinery imports skyrocketed to $X in 2023. Total imports indicated tangible growth 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. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Mexico (X units), the Dominican Republic (X units) and Brazil (X units) was the main importer of industrial bakery machinery in Latin America and the Caribbean, achieving X% of total import. It was distantly followed by Chile (X units) and Paraguay (X units), together committing a X% share of total imports. Argentina (X units), Peru (X units), Colombia (X units), Venezuela (X units), Guatemala (X units), Uruguay (X units) and Ecuador (X units) took a little share of total imports.

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

In value terms, the Dominican Republic ($X), Mexico ($X) and Brazil ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price attained 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 the Dominican Republic ($X per unit), while Uruguay ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform