Colombia: Canned Food Market 2024

Canned Food Market Size in Colombia

In 2021, the Colombian canned food market decreased by -1.7% to $X for the first time since 2017, thus ending a three-year rising 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. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Canned Food Production in Colombia

In value terms, canned food production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 23%. Canned food production peaked at $X in 2020, and then reduced modestly in the following year.

Canned Food Exports

Exports from Colombia

In 2021, canned food exports from Colombia surged to X tons, with an increase of 46% against the previous year's figure. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, canned food exports soared to $X in 2021. In general, exports, however, recorded a noticeable shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for canned food exports from Colombia, accounting for a 47% share of total exports. Moreover, canned food exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), twofold. The third position in this ranking was held by Ecuador (X tons), with a 12% share.

From 2012 to 2020, the average annual growth rate of volume to the United States stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+28.8% per year) and Ecuador (+8.4% per year).

In value terms, the United States ($X) remains the key foreign market for canned food exports from Colombia, comprising 36% of total exports. The second position in the ranking was taken by Peru ($X), with a 13% share of total exports. It was followed by Ecuador, with a 12% share.

From 2012 to 2020, the average annual growth rate of value to the United States amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+21.1% per year) and Ecuador (+3.1% per year).

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, increasing by 4.5% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2014 when the average export price increased by 9.6%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2020, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Panama ($X per ton), while the average price for exports to the Dominican Republic ($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 Panama (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Colombia

In 2021, canned food imports into Colombia stood at X tons, growing by 8.6% against the year before. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 43% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, canned food imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 16% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Chile (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of canned food imports to Colombia, with a combined 56% share of total imports. Thailand, China, Spain, Ireland and Brazil lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Chile ($X) and Mexico ($X) constituted the largest canned food suppliers to Colombia, with a combined 47% share of total imports. Ireland, Spain, Thailand, China and Brazil lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Thailand, with a CAGR of +11.8%, saw 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, falling by -2.2% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when the average import price increased by 4.9%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ireland ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by the United States (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :