Colombia: Canned Food Market 2024

Canned Food Market Size in Colombia

The Colombian canned food market fell slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Canned food consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Canned Food Production in Colombia

In value terms, canned food production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Canned food production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Canned Food Exports

Exports from Colombia

In 2022, approx. X tons of canned food were exported from Colombia; which is down by X% against the year before. Over the period under review, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, canned food exports declined to $X in 2022. Overall, exports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for canned food exports from Colombia, accounting for a X% share of total exports. Moreover, canned food exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), twofold. Cuba (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (X% per year) and Cuba (X% per year).

In value terms, the United States ($X), Ecuador ($X) and Venezuela ($X) appeared to be the largest markets for canned food exported from Colombia worldwide, together comprising X% of total exports. Panama, Peru, Cuba, Spain, the UK, the Dominican Republic, Curacao, Hong Kong SAR, Aruba and Mexico lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Cuba, 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 2022, the average canned food export price amounted to $X per ton, surging by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Colombia

In 2022, after four years of growth, there was significant decline in purchases abroad of canned food, when their volume decreased by X% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, canned food imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

The United States (X tons), Chile (X tons) and Mexico (X tons) were the main suppliers of canned food imports to Colombia, with a combined X% share of total imports. China, Spain, Thailand and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest canned food suppliers to Colombia were the United States ($X), Mexico ($X) and Chile ($X), together accounting for X% of total imports. Spain, China, Thailand and Italy lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average canned food import price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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