Latin America and the Caribbean: Canned Food Market 2024

Canned Food Market Size in Latin America and the Caribbean

In 2023, the Latin American canned food market increased by X% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2023 and is expected to retain growth in years to come.

Canned Food Production in Latin America and the Caribbean

In value terms, canned food production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked in 2023 and is expected to retain growth in years to come.

Canned Food Exports

Exports in Latin America and the Caribbean

In 2023, shipments abroad of canned food decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, canned food exports shrank slightly to $X in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Brazil (X tons) and Peru (X tons) represented roughly X% of total exports in 2023. Argentina (X tons) took the next position in the ranking, followed by Guatemala (X tons). All these countries together took near X% share of total exports. Chile (X tons) and El Salvador (X tons) held a minor share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by El Salvador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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, Chile and El Salvador lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Guatemala, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Latin America and the Caribbean stood at $X per ton in 2023, rising by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 2023, the amount of canned food imported in Latin America and the Caribbean amounted to X tons, approximately equating the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, canned food imports expanded sharply to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Mexico (X tons) and Brazil (X tons) were the major importers of canned food in 2023, accounting for approx. X% and X% of total imports, respectively. Chile (X tons) ranks next in terms of the total imports with a X% share, followed by the Dominican Republic (X%), Guatemala (X%) and Colombia (X%). Costa Rica (X tons), El Salvador (X tons), Honduras (X tons), Panama (X tons), Uruguay (X tons), Jamaica (X tons) and Venezuela (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported canned food in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: the Dominican Republic (X% per year) and Guatemala (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform