Latin America and the Caribbean: Prepared Frozen Vegetable Market 2022

Prepared Frozen Vegetable Market Size in Latin America and the Caribbean

In 2020, after two years of growth, there was decline in the Latin American prepared frozen vegetable market, when its value decreased by -X% to $X. The total consumption indicated moderate growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. Over the period under review, the market attained the maximum level at $X in 2019, and then reduced modestly in the following year.

Prepared Frozen Vegetable Production in Latin America and the Caribbean

In value terms, prepared frozen vegetable production contracted to $X in 2020 estimated in export prices. The total production indicated a moderate expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. The level of production peaked at $X in 2019, and then shrank in the following year.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of prepared frozen vegetable production in 2020 were Mexico (X tons), Brazil (X tons) and Argentina (X tons), with a combined X% share of total production. These countries were followed by Colombia, Venezuela, Chile, Peru, Ecuador, the Dominican Republic, Cuba, Guatemala, Honduras and Bolivia, which together accounted for a further X 2007 to 2020, the biggest increases were in Peru, while prepared frozen vegetable production for the other leaders experienced more modest paces of growth.

Prepared Frozen Vegetable Exports

Exports in Latin America and the Caribbean

In 2020, exports of frozen vegetables and mixtures of vegetables (prepared or preserved) in Latin America and the Caribbean soared to X tons, growing by X% compared with the previous year. Total exports indicated strong growth from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2009 when exports increased by X% y-o-y. The volume of export peaked in 2020 and is likely to continue growth in the immediate term.

In value terms, prepared frozen vegetable exports fell to $X in 2020. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2019, and then fell in the following year.

Exports by Country

Mexico dominates prepared frozen vegetable exports structure, amounting to X tons, which was near X% of total exports in 2020. It was distantly followed by Honduras (X tons), committing a X% share of total exports.

From 2007 to 2020, average annual rates of growth with regard to prepared frozen vegetable exports from Mexico stood at +X%. At the same time, Honduras (+X%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. Honduras (+X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest prepared frozen vegetable supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was occupied by Honduras ($X), with a X% share of total exports.

In Mexico, prepared frozen vegetable exports expanded at an average annual rate of +X% over the period from 2007-2020.

Export Prices by Country

The prepared frozen vegetable export price in Latin America and the Caribbean stood at $X per ton in 2020, falling by -X% against the previous year. Export price indicated a tangible expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, prepared frozen vegetable export price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. The level of export peaked at $X per ton in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Honduras ($X per ton), while Mexico stood at $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Mexico.

Prepared Frozen Vegetable Imports

Imports in Latin America and the Caribbean

For the eleventh consecutive year, LatAmerica and the Caribbean recorded growth in overseas purchases of frozen vegetables and mixtures of vegetables (prepared or preserved), which increased by X% to X tons in 2020. Over the period under review, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. The volume of import peaked in 2020 and is likely to see gradual growth in the immediate term.

In value terms, prepared frozen vegetable imports amounted to $X in 2020. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. The level of import peaked in 2020 and is expected to retain growth in years to come.

Imports by Country

Brazil represented the main importer of frozen vegetables and mixtures of vegetables (prepared or preserved) in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near X% of total imports in 2020. Mexico (X tons) ranks second in terms of the total imports with a X% share, followed by Jamaica (X%). Chile (X tons), Panama (X tons), Suriname (X tons), Costa Rica (X tons), Trinidad and Tobago (X tons), Uruguay (X tons), Colombia (X tons) and Argentina (X tons) took a little share of total imports.

From 2007 to 2020, average annual rates of growth with regard to prepared frozen vegetable imports into Brazil stood at +X%. At the same time, Chile (+X%), Uruguay (+X%), Colombia (+X%), Suriname (+X%), Costa Rica (+X%), Mexico (+X%), Trinidad and Tobago (+X%), Jamaica (+X%) and Argentina (+X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2007-2020. By contrast, Panama (-X%) illustrated a downward trend over the same period. While the share of Brazil (+X p.p.) and Chile (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Mexico (-X p.p.), Jamaica (-X p.p.) and Panama (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest prepared frozen vegetable importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Jamaica ($X), together comprising X% of total imports. These countries were followed by Chile, Panama, Uruguay, Costa Rica, Trinidad and Tobago, Colombia, Suriname and Argentina, which together accounted for a further X terms of the main importing countries, Chile recorded the highest rates of growth with regard to 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

In 2020, the prepared frozen vegetable import price in Latin America and the Caribbean amounted to $X per ton, approximately mirroring the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Uruguay ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Panama, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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