Latin America and the Caribbean: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Latin America and the Caribbean

The Latin American market for frozen vegetables other than potato and corn dropped to $X in 2022, waning by X% against the previous year. Overall, consumption, however, recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Frozen Vegetables other than Potato and Corn in Latin America and the Caribbean

In value terms, production of frozen vegetables other than potato and corn amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Exports of Frozen Vegetables other than Potato and Corn

Exports in Latin America and the Caribbean

In 2022, approx. X tons of frozen vegetables other than potato and corn were exported in Latin America and the Caribbean; surging by X% on the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of frozen vegetables other than potato and corn expanded notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Mexico (X tons) represented the major exporter of frozen vegetables other than potato and corn, committing X% of total exports. Ecuador (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (X%). Peru (X tons) and Chile (X tons) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of frozen vegetables other than potato and corn. At the same time, Guatemala (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Peru experienced a relatively flat trend pattern. By contrast, Chile (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ecuador and Guatemala increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest frozen vegetables other than potato and corn supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Ecuador ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ecuador (X% per year) and Guatemala (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

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

Imports of Frozen Vegetables other than Potato and Corn

Imports in Latin America and the Caribbean

In 2022, approx. X tons of frozen vegetables other than potato and corn were imported in Latin America and the Caribbean; rising by X% compared with the year before. Total imports indicated a strong expansion from 2012 to 2022: its volume 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, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, imports of frozen vegetables other than potato and corn rose notably to $X in 2022. Total imports indicated a buoyant 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, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Brazil (X tons), Chile (X tons) and Mexico (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Colombia (X tons) and Uruguay (X tons), together achieving an X% share of total imports. Guatemala (X tons), Argentina (X tons), the Dominican Republic (X tons), Costa Rica (X tons), Peru (X tons) and Jamaica (X tons) took a minor share of total imports.

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

In value terms, the largest frozen vegetables other than potato and corn importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), with a combined X% share of total imports. Colombia, Guatemala, Uruguay, the Dominican Republic, Argentina, Costa Rica, Peru and Jamaica lagged somewhat behind, together accounting for a further X%.

Argentina, 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Uruguay ($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 Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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