Latin America and the Caribbean: Canned Food Market 2024

Canned Food Market Size in Latin America and the Caribbean

The Latin American canned food market contracted to $X in 2022, which is down by 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. 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.

Canned Food Production in Latin America and the Caribbean

In value terms, canned food production declined slightly 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; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Canned Food Exports

Exports in Latin America and the Caribbean

Canned food exports skyrocketed to X tons in 2022, jumping by X% against the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned food exports skyrocketed to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Peru was the key exporting country with an export of about X tons, which recorded X% of total exports. Mexico (X tons) held the second position in the ranking, followed by Brazil (X tons), Argentina (X tons) and Guatemala (X tons). All these countries together took near X% share of total exports. Chile (X tons) took a minor share of total exports.

Peru was also the fastest-growing in terms of the canned food exports, with a CAGR of X% from 2012 to 2022. At the same time, Guatemala (X%) and Chile (X%) displayed positive paces of growth. Mexico experienced a relatively flat trend pattern. By contrast, Brazil (X%) and Argentina (X%) illustrated a downward trend over the same period. Peru (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico, Argentina and Brazil saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest canned food supplying countries in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Peru ($X), with a combined X% share of total exports. Guatemala, Argentina and Chile lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Guatemala, with a CAGR of X%, recorded the highest growth rate of 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 export price in Latin America and the Caribbean amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

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

Canned Food Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of canned food decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume 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 throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, canned food imports rose slightly to $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 consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil (X tons) and Mexico (X tons) were the major importers of canned food in 2022, reaching approx. X% and X% of total imports, respectively. Chile (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (X%), Colombia (X%) and the Dominican Republic (X%). The following importers - Panama (X tons), El Salvador (X tons), Costa Rica (X tons), Argentina (X tons), Honduras (X tons), Uruguay (X tons) and Jamaica (X tons) - together made up X% 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, Mexico ($X) constitutes the largest market for imported canned food in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Chile (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Panama ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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