Dominican Republic: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in the Dominican Republic

In 2021, the Dominican prepared dish and meal market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Prepared Dishes And Meals in the Dominican Republic

In value terms, prepared dish and meal production stood at $X in 2021 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 31%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Prepared Dishes And Meals

Exports from the Dominican Republic

In 2021, approx. X tons of prepared dishes and meals were exported from the Dominican Republic; rising by 34% against the previous year. In general, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal exports soared to $X in 2021. Over the period under review, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for prepared dish and meal exports from the Dominican Republic, accounting for a 89% share of total exports. It was followed by Guatemala (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +8.8%.

In value terms, the United States ($X) remains the key foreign market for prepared dishes and meals exports from the Dominican Republic, comprising 85% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +10.5%.

Export Prices by Country

In 2021, the average prepared dish and meal export price amounted to $X per ton, with an increase of 6.2% against the previous year. Overall, the export price saw a mild expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 8.2% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.6%).

Imports of Prepared Dishes And Meals

Imports into the Dominican Republic

In 2021, prepared dish and meal imports into the Dominican Republic skyrocketed to X tons, increasing by 53% compared with 2020. Overall, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.3% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest prepared dish and meal supplier to the Dominican Republic, with a 36% share of total imports. Moreover, prepared dish and meal imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), threefold. The third position in this ranking was held by Spain (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+30.9% per year) and Spain (+17.7% per year).

In value terms, the United States ($X), Costa Rica ($X) and Spain ($X) appeared to be the largest prepared dish and meal suppliers to the Dominican Republic, together accounting for 60% of total imports. Mexico, the Netherlands, Guatemala, China, Colombia, Germany, Italy, Denmark and Brazil lagged somewhat behind, together comprising a further 19%.

Guatemala, with a CAGR of +29.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, dropping by -14.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :