Colombia: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Colombia

In 2021, after three years of decline, there was significant growth in the Colombian prepared dish and meal market, when its value increased by 8.2% to $X. Overall, consumption, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.7% against the previous year. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Prepared Dishes And Meals in Colombia

In value terms, prepared dish and meal production expanded remarkably to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 11%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Prepared Dishes And Meals

Exports from Colombia

In 2021, the amount of prepared dishes and meals exported from Colombia rose markedly to X tons, with an increase of 14% against the year before. Over the period under review, exports posted a perceptible increase. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, prepared dish and meal exports surged to $X in 2021. In general, total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +136.7% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of 51%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for prepared dish and meal exports from Colombia, with a 47% share of total exports. Moreover, prepared dish and meal exports to the United States exceeded the volume sent to the second major destination, Ecuador (X tons), fivefold. The third position in this ranking was taken by Honduras (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-7.4% per year) and Honduras (+112.9% per year).

In value terms, the United States ($X) remains the key foreign market for prepared dishes and meals exports from Colombia, comprising 43% of total exports. The second position in the ranking was held by Ecuador ($X), with a 16% share of total exports. It was followed by Guatemala, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-1.1% per year) and Guatemala (+16.0% per year).

Export Prices by Country

The average prepared dish and meal export price stood at $X per ton in 2021, increasing by 16% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Honduras ($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 the Dominican Republic (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports into Colombia

In 2021, approx. X tons of prepared dishes and meals were imported into Colombia; growing by 29% on the year before. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 decreased by -1.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 32%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, prepared dish and meal imports soared to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Brazil (X tons) and Mexico (X tons) were the main suppliers of prepared dish and meal imports to Colombia, together comprising 64% of total imports. These countries were followed by Germany, Poland, Free Zones, the Netherlands, Peru, Spain, China, Italy and Costa Rica, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +117.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared dish and meal suppliers to Colombia were the United States ($X), Brazil ($X) and Mexico ($X), together accounting for 58% of total imports. Peru, Free Zones, Germany, Spain, Italy, the Netherlands, Poland, China and Costa Rica lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Poland, with a CAGR of +67.4%, 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 more modest paces of growth.

Import Prices by Country

The average prepared dish and meal import price stood at $X per ton in 2021, rising by 15% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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