Argentina: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Argentina

The Argentinian breakfast cereal market rose to $X in 2021, picking up by 2.7% against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.4% against 2016 indices. Breakfast cereal consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Breakfast Cereal Production in Argentina

In value terms, breakfast cereal production stood at $X in 2021 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Breakfast Cereal Exports

Exports from Argentina

For the fourth year in a row, Argentina recorded decline in shipments abroad of breakfast cereals, which decreased by -33.4% to X tons in 2021. Over the period under review, exports faced a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of 12%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, breakfast cereal exports fell remarkably to $X in 2021. Overall, exports faced a deep setback. The growth pace was the most rapid in 2013 when exports increased by 15%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Uruguay (X tons) was the main destination for breakfast cereal exports from Argentina, accounting for a 68% share of total exports. Moreover, breakfast cereal exports to Uruguay exceeded the volume sent to the second major destination, Paraguay (X tons), fourfold. Colombia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Uruguay totaled +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+1.2% per year) and Colombia (-19.4% per year).

In value terms, Uruguay ($X) remains the key foreign market for breakfast cereal exports from Argentina, comprising 65% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 25% share of total exports. It was followed by Colombia, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Uruguay stood at -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-2.4% per year) and Colombia (-25.4% per year).

Export Prices by Country

In 2021, the average breakfast cereal export price amounted to $X per ton, shrinking by -5.9% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2013 an increase of 18%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to Colombia ($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 Chile (-0.1%), while the prices for the other major destinations experienced a decline.

Breakfast Cereal Imports

Imports into Argentina

In 2021, purchases abroad of breakfast cereals increased by 67% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a abrupt shrinkage. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, breakfast cereal imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt setback. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Chile (X tons), Brazil (X tons) and Spain (X tons) were the main suppliers of breakfast cereal imports to Argentina, together comprising 99% of total imports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +3.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest breakfast cereal suppliers to Argentina were Brazil ($X), Chile ($X) and Spain ($X), together comprising 98% of total imports.

In terms of the main suppliers, Brazil, with a CAGR of -1.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average breakfast cereal import price stood at $X per ton in 2021, reducing by -21.8% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average 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 the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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