Puerto Rico: Market for Frozen Fruits And Vegetables 2024

Market Size for Frozen Fruits And Vegetables in Puerto Rico

The Puerto Rican frozen fruits and vegetables market reduced modestly to $X in 2021, with a decrease of -1.9% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Frozen Fruits And Vegetables in Puerto Rico

In value terms, frozen fruits and vegetables production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

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Exports of Frozen Fruits And Vegetables

Exports from Puerto Rico

In 2021, frozen fruits and vegetables exports from Puerto Rico stood at less than X kg, leveling off at the year before. In general, exports showed a relatively flat trend pattern.

In value terms, frozen fruits and vegetables exports amounted to less than $X in 2021. Overall, exports showed a relatively flat trend pattern.

Exports by Country

In 2021, Belgium (X tons), distantly followed by the Netherlands (X tons), Canada (X tons), China (X tons), the United States (X tons) and Poland (X tons) represented the major exporters of frozen fruits and vegetables, together comprising 64% of total exports. Spain (X tons), France (X tons), Germany (X tons), Mexico (X tons), Turkey (X tons) and Egypt (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fruits and vegetables supplying countries from Puerto Rico were Belgium ($X), the Netherlands ($X) and Canada ($X), together accounting for 35% of total exports. China, the United States, Poland, Spain, Mexico, France, Germany, Turkey and Egypt lagged somewhat behind, together comprising a further 39%.

Among the main exporting countries, Turkey, with a CAGR of +21.6%, 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

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately equating the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.3%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Fruits And Vegetables

Imports into Puerto Rico

In 2021, frozen fruits and vegetables imports into Puerto Rico stood at less than X kg, approximately reflecting 2020 figures. Overall, imports saw a relatively flat trend pattern.

In value terms, frozen fruits and vegetables imports stood at less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by France (X tons), Germany (X tons), Japan (X tons) and the UK (X tons) were the key importers of frozen fruits and vegetables, together committing 42% of total imports. The following importers - Belgium (X tons), the Netherlands (X tons), Italy (X tons), South Korea (X tons), Brazil (X tons), Spain (X tons), Saudi Arabia (X tons) and Canada (X tons) - together made up 24% of total imports.

From 2012 to 2021, average annual rates of growth with regard to frozen fruits and vegetables imports into the United States stood at +5.0%. At the same time, Canada (+6.2%), Brazil (+5.8%), South Korea (+4.2%), Saudi Arabia (+3.5%), Italy (+2.5%), France (+1.6%), Japan (+1.6%), Germany (+1.2%) and Belgium (+1.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +6.2% from 2012-2021. The UK and the Netherlands experienced a relatively flat trend pattern. By contrast, Spain (-1.2%) illustrated a downward trend over the same period. The United States (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -1.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported frozen fruits and vegetables into Puerto Rico, comprising 17% of global imports. The second position in the ranking was held by Japan ($X), with an 8.3% share of global imports. It was followed by Germany, with a 7.8% share.

In the United States, frozen fruits and vegetables imports expanded at an average annual rate of +6.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.4% per year) and Germany (+2.0% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Brazil ($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 Netherlands (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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