Latin America and the Caribbean: Breakfast Cereal Market 2024

Breakfast Cereal Market Size in Latin America and the Caribbean

The Latin American breakfast cereal market contracted slightly to $X in 2022, shrinking by X% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Breakfast Cereal Production in Latin America and the Caribbean

In value terms, breakfast cereal production reduced to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Breakfast Cereal Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of breakfast cereals decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports showed a pronounced reduction. The pace of growth appeared the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, breakfast cereal exports expanded to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

In 2022, Mexico (X tons) was the main exporter of breakfast cereals, making up X% of total exports. It was distantly followed by Chile (X tons), El Salvador (X tons), Guatemala (X tons), Trinidad and Tobago (X tons) and Brazil (X tons), together creating a X% share of total exports. Colombia (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Brazil (X%), Guatemala (X%), Trinidad and Tobago (X%), Colombia (X%) and El Salvador (X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Chile (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Guatemala (X p.p.), Brazil (X p.p.), Trinidad and Tobago (X p.p.), El Salvador (X p.p.) and Colombia (X p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest breakfast cereal supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with an X% share of total exports. It was followed by El Salvador, with an X% share.

In Mexico, breakfast cereal exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Trinidad and Tobago (X% per year) and El Salvador (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, breakfast cereal export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Chile ($X per ton) was amongst the lowest.

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

Breakfast Cereal Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of breakfast cereals decreased by X% to X tons, falling for the fifth year in a row after six years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, breakfast cereal imports reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Guatemala (X tons), Peru (X tons), the Dominican Republic (X tons), Mexico (X tons), Panama (X tons), El Salvador (X tons), Honduras (X tons), Costa Rica (X tons), Nicaragua (X tons), Chile (X tons), Haiti (X tons) and Colombia (X tons) represented the key importer of breakfast cereals in Latin America and the Caribbean, constituting X% of total import. Bolivia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), the Dominican Republic ($X) and Mexico ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Panama, Chile, Peru, Costa Rica, El Salvador, Honduras, Nicaragua, Colombia, Bolivia and Haiti lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Source: IndexBox Platform

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