Guatemala: Baby Food Market 2024

Baby Food Market Size in Guatemala

The Guatemalan baby food market expanded modestly to $X in 2023, rising by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Baby food consumption peaked at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Baby Food Production in Guatemala

In value terms, baby food production expanded remarkably to $X in 2023 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Baby Food Exports

Exports from Guatemala

After two years of growth, shipments abroad of food preparations for infants decreased by X% to X tons in 2023. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, baby food exports expanded to $X in 2023. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in years to come.

Exports by Country

Honduras (X tons) was the main destination for baby food exports from Guatemala, accounting for a X% share of total exports. Moreover, baby food exports to Honduras exceeded the volume sent to the second major destination, Panama (X tons), threefold. Nicaragua (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Honduras stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Nicaragua (X% per year).

In value terms, Honduras ($X) remains the key foreign market for food preparations for infants exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by Panama ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Honduras amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2023, the average baby food export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, baby food export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of X%. The export price peaked in 2023 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were Belize ($X per ton) and Honduras ($X per ton), while the average price for exports to Costa Rica ($X per ton) and Panama ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Food Imports

Imports into Guatemala

In 2023, overseas purchases of food preparations for infants decreased by X% to X tons, falling for the third year in a row after three years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, baby food imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, Mexico (X tons) constituted the largest baby food supplier to Guatemala, accounting for a X% share of total imports. Moreover, baby food imports from Mexico exceeded the figures recorded by the second-largest supplier, Ireland (X tons), fivefold. The third position in this ranking was held by Chile (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Mexico totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and Chile (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of food preparations for infants to Guatemala, comprising X% of total imports. The second position in the ranking was held by Ireland ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and Chile (X% per year).

Import Prices by Country

The average baby food import price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Panama ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Panama (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform