Mexico: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Mexico

The Mexican preserved frozen potato market surged to $X in 2021, increasing by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.5% against 2019 indices. Preserved frozen potato consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Frozen Potato Exports

Exports from Mexico

After two years of decline, shipments abroad of frozen potatoes prepared or preserved increased by 539% to X tons in 2021. In general, exports, however, saw a precipitous contraction. The growth pace was the most rapid in 2015 with an increase of 1,256%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, preserved frozen potato exports soared to $X in 2021. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 1,441%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Egypt (X tons) and Guatemala (X tons) were the main destinations of preserved frozen potato exports from Mexico, together comprising 92% of total exports.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +1,697.3%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X) emerged as the key foreign market for frozen potatoes prepared or preserved exports from Mexico, comprising 43% of total exports. The second position in the ranking was held by Egypt ($X), with a 21% share of total exports. It was followed by Guatemala, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+1,494.3% per year) and Guatemala (-20.8% per year).

Export Prices by Country

In 2021, the average preserved frozen potato export price amounted to $X per ton, waning by -11.6% against the previous year. Overall, the export price, however, continues to indicate resilient growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by 60%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belize (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Frozen Potato Imports

Imports into Mexico

In 2021, the amount of frozen potatoes prepared or preserved imported into Mexico amounted to X tons, surging by 7.1% compared with the previous year's figure. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.3% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 13%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved frozen potato imports soared to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.5% against 2019 indices. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest preserved frozen potato supplier to Mexico, with a 62% share of total imports. Moreover, preserved frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+2.9% per year) and Belgium (+35.8% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes prepared or preserved to Mexico, comprising 74% of total imports. The second position in the ranking was taken by Canada ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-2.5% per year) and Belgium (+36.0% per year).

Import Prices by Country

The average preserved frozen potato import price stood at $X per ton in 2021, increasing by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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