Chile: Canned Food Market 2024

Canned Food Market Size in Chile

In 2021, the Chilean canned food market increased by 12% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Canned Food Production in Chile

In value terms, canned food production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 23%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Canned Food Exports

Exports from Chile

In 2021, overseas shipments of canned food decreased by -7% to X tons, falling for the third year in a row after three years of growth. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 26%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, canned food exports contracted slightly to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 35%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Colombia (X tons), the United States (X tons) and Japan (X tons) were the main destinations of canned food exports from Chile, together accounting for 33% of total exports. These countries were followed by Honduras, Nicaragua, Canada, Cuba, Panama, Guatemala, Italy, Ecuador, Trinidad and Tobago and Mexico, which together accounted for a further 15%.

From 2012 to 2020, the biggest increases were recorded for Canada (with a CAGR of +28.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for canned food exports from Chile, comprising 22% of total exports. The second position in the ranking was taken by Colombia ($X), with a 10% share of total exports. It was followed by Japan, with an 8.7% share.

From 2012 to 2020, the average annual rate of growth in terms of value to the United States stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-2.4% per year) and Japan (-1.8% per year).

Export Prices by Country

In 2020, the average canned food export price amounted to $X per ton, increasing by 3.6% against the previous year. Over the period under review, the export price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2013 an increase of 14% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2020, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Chile

In 2021, approx. X tons of canned food were imported into Chile; increasing by 60% against 2020. Overall, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned food imports surged to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Spain (X tons) and Brazil (X tons) were the main suppliers of canned food imports to Chile, together accounting for 34% of total imports.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +23.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the United States ($X) and Mexico ($X) were the largest canned food suppliers to Chile, with a combined 40% share of total imports.

Among the main suppliers, Spain, with a CAGR of +23.8%, recorded the highest growth rate of 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 2020, the average canned food import price amounted to $X per ton, which is down by -9.5% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 0.4%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Mexico ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by France (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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