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Mexico - Table Flatware - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jan 18, 2023
Mexico's Table Flatware Price Slumps 13% to $9,255 per Ton, Fluctuating Wildly over 2022
Mexico Table Flatware Import Price in July 2022
In July 2022, the table flatware price stood at $9,255 per ton (CIF, Mexico), dropping by -12.9% against the previous month. Overall, the import price recorded a noticeable decline. The pace of growth was the most pronounced in June 2022 an increase of 35% month-to-month. Over the period under review, average import prices attained the peak figure at $11,460 per ton in January 2022; however, from February 2022 to July 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In July 2022, the country with the highest price was Vietnam ($20,841 per ton), while the price for China ($8,495 per ton) was amongst the lowest.
From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by India (+4.4%), while the prices for the other major suppliers experienced a decline.
Mexico Table Flatware Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In July 2022, the product with the highest price was cutlery; (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), plated with precious metal, not in sets ($33.6 per kg), while the price for cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter knives, sugar tongs and similar), not plated with precious metal ($6,283 per ton) was amongst the lowest.
From January 2022 to July 2022, the most notable rate of growth in terms of prices was attained by cutlery; other than plated with precious metal (+1.7%), while the prices for the other products experienced mixed trend patterns.
Mexico Table Flatware Imports
In July 2022, approximately 355 tons of table flatware were imported into Mexico; rising by 19% compared with June 2022 figures. Over the period under review, total imports indicated prominent growth from January 2022 to July 2022: its volume increased at an average monthly rate of +5.5% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, imports decreased by -11.5% against March 2022 indices. The pace of growth appeared the most rapid in March 2022 with an increase of 83% against the previous month. As a result, imports reached the peak of 401 tons; afterwards, it flattened through to July 2022.
In value terms, table flatware imports amounted to $3.3M (IndexBox estimates) in July 2022. Overall, total imports indicated a slight increase from January 2022 to July 2022: its value increased at an average monthly rate of +1.8% over the last six months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, imports increased by +65.5% against April 2022 indices. The pace of growth appeared the most rapid in March 2022 when imports increased by 62% month-to-month. As a result, imports reached the peak of $3.9M. From April 2022 to July 2022, the growth of imports remained at a somewhat lower figure.
Mexico Table Flatware Imports by Type
Cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter knives, sugar tongs and similar), not plated with precious metal (157 tons), cutlery; other than plated with precious metal (94 tons) and cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal (87 tons) were the main products of table flatware imports to Mexico, together accounting for 95% of total imports.
From January 2022 to July 2022, the biggest increases were in cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal (with a CAGR of +12.7%), while purchases for the other products experienced more modest paces of growth.
In value terms, the most traded types of table flatware in Mexico were cutlery; other than plated with precious metal ($1.2M), cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter knives, sugar tongs and similar), not plated with precious metal ($986K) and cutlery; (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), plated with precious metal, not in sets ($580K), together accounting for 83% of total imports. Cutlery; sets of assorted articles (eg spoons, forks, ladles, skimmers, cake-servers, fish-knives, butter-knives, sugar tongs and similar), with at least one article plated with precious metal lagged somewhat behind, accounting for a further 17%.
Mexico Table Flatware Imports by Country
In July 2022, China (324 tons) was the main table flatware supplier to Mexico, accounting for a 91% share of total imports. Moreover, table flatware imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (12 tons), more than tenfold. Indonesia (6.6 tons) ranked third in terms of total imports with a 1.9% share.
From January 2022 to July 2022, the average monthly growth rate of volume from China amounted to +6.5%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (+9.9% per month) and Indonesia (+4.7% per month).
In value terms, China ($2.7M) constituted the largest supplier of table flatware to Mexico, comprising 84% of total imports. The second position in the ranking was taken by Vietnam ($243K), with a 7.4% share of total imports. It was followed by Indonesia, with a 3.4% share.
From January 2022 to July 2022, the average monthly growth rate of value from China stood at +2.2%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (+8.9% per month) and Indonesia (+3.3% per month).
Table Flatware Market Overview
The rising disposable incomes and changing lifestyle patterns of consumers are some of the primary factors driving the growth of the Mexican table flatware market.
In addition to this, the increasing popularity of formal dining occasions and growing tourism industry are expected to boost demand for table flatware over the forecast period.
The end user segments of this market are households and commercial establishments such as restaurants and hotels. Households account for the largest share of the table flatware market due to the growing number of nuclear families in Mexico. Commercial establishments are expected to witness significant growth during the forecast period owing to the booming tourism industry in Mexico.
This report provides an in-depth analysis of the table flatware market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 25711430 - Table flatware (excluding table knives, including fish-knives and butter-knives) and similar tableware of stainless steel or other base metal
• Prodcom 25711480 - Table flatware (excluding table knives, including fish-knives and butter-knives) and similar tableware of base metal, silver- , gold- or platinum plated
Country coverage:
• Mexico
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Mexico
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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