Latin America and the Caribbean: Wood Box Market 2023

Wood Box Market Size in Latin America and the Caribbean

In 2021, the Latin American wood box market decreased by -13.6% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +7.1% against 2016 indices. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Wood Box Production in Latin America and the Caribbean

In value terms, wood box production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 26%. The level of production peaked at $X in 2020, and then declined in the following year.

Wood Box Exports

Exports in Latin America and the Caribbean

In 2021, approx. X units of cases, boxes, crates, drums and similar packings of wood were exported in Latin America and the Caribbean; increasing by 33% against the year before. Over the period under review, exports, however, continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2014 with an increase of 58%. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood box exports amounted to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.0% against 2017 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Chile represented the major exporting country with an export of around X units, which amounted to 64% of total exports. It was distantly followed by Mexico (X units) and Brazil (X units), together constituting a 35% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wood box exports from Chile stood at -5.3%. At the same time, Mexico (+16.1%) and Brazil (+3.6%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +16.1% from 2012-2021. Mexico (+14 p.p.) and Brazil (+6.9 p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by -19.8% from 2012 to 2021, respectively.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 95% of total exports.

Among the main exporting countries, Mexico, with a CAGR of +13.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, falling by -14.7% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2015 an increase of 82%. The level of export peaked at $X per unit in 2020, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-0.9%), while the other leaders experienced a decline in the export price figures.

Wood Box Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of cases, boxes, crates, drums and similar packings of wood were finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, wood box imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 31%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Peru represented the largest importing country with an import of around X units, which resulted at 56% of total imports. It was distantly followed by Mexico (X units), achieving a 31% share of total imports. Chile (X units) and Costa Rica (X units) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Costa Rica (with a CAGR of +48.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported cases, boxes, crates, drums and similar packings of wood in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was taken by Peru ($X), with a 12% share of total imports. It was followed by Chile, with a 4.6% share.

In Mexico, wood box imports increased at an average annual rate of +5.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Peru (+4.7% per year) and Chile (+3.7% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, surging by 3.6% against the previous year. Over the period under review, the import price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 68% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Costa Rica ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+11.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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