Peru: Vinegar-Preserved Vegetable Market 2023

Vinegar-Preserved Vegetable Market Size in Peru

The Peruvian vinegar-preserved vegetable market contracted markedly to $X in 2021, falling by -80.5% against the previous year. Overall, consumption recorded a precipitous contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Vinegar-Preserved Vegetable Production in Peru

In value terms, vinegar-preserved vegetable production reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 5.1%. Vinegar-preserved vegetable production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Vinegar-Preserved Vegetable Exports

Exports from Peru

In 2021, the amount of vegetables in vinegar other than potatoes exported from Peru stood at X tons, increasing by 13% on 2020 figures. The total export volume increased at an average annual rate of +5.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 26%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, vinegar-preserved vegetable exports rose significantly to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. 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 36% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for vinegar-preserved vegetable exports from Peru, with a 58% share of total exports. Moreover, vinegar-preserved vegetable exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), fivefold. Spain (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.1% per year) and Spain (+13.3% per year).

In value terms, the United States ($X) remains the key foreign market for vinegar-preserved vegetable exports from Peru, comprising 65% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.9% share of total exports. It was followed by Spain, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.7% per year) and Spain (+11.9% per year).

Export Prices by Country

In 2021, the average vinegar-preserved vegetable export price amounted to $X per ton, with a decrease of -2.5% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8.2%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($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 the UK (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar-Preserved Vegetable Imports

Imports into Peru

In 2021, approx. X tons of vegetables in vinegar other than potatoes were imported into Peru; with a decrease of -12.5% on the previous year's figure. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.8% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 68% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, vinegar-preserved vegetable imports fell markedly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Chile (X tons) were the main suppliers of vinegar-preserved vegetable imports to Peru, with a combined 61% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +23.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Spain ($X) appeared to be the largest vinegar-preserved vegetable suppliers to Peru, together comprising 66% of total imports. These countries were followed by India, Chile, Germany and Mexico, which together accounted for a further 17%.

In terms of the main suppliers, India, with a CAGR of +19.9%, 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 2021, the average vinegar-preserved vegetable import price amounted to $X per ton, dropping by -10% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 23%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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