Ecuador: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Ecuador

In 2021, the Ecuadorian prepared dish and meal market increased by 15% to $X, rising for the fifth consecutive year after two years of decline. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.5% against 2016 indices. Prepared dish and meal consumption peaked in 2021 and is expected to retain growth in years to come.

Exports of Prepared Dishes And Meals

Exports from Ecuador

In 2021, after two years of growth, there was significant decline in overseas shipments of prepared dishes and meals, when their volume decreased by -21.7% to X tons. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 204%. The exports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, prepared dish and meal exports fell dramatically to $X in 2021. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 98%. The exports peaked at $X in 2020, and then declined significantly in the following year.

Exports by Country

Peru (X tons), the United States (X tons) and Panama (X tons) were the main destinations of prepared dish and meal exports from Ecuador, with a combined 77% share of total exports. Colombia, Sudan, Algeria, China, the Netherlands and India lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +87.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Panama ($X) and Peru ($X) were the largest markets for prepared dish and meal exported from Ecuador worldwide, with a combined 69% share of total exports.

In terms of the main countries of destination, Panama, with a CAGR of +84.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared dish and meal export price stood at $X per ton in 2021, reducing by -2.4% against the previous year. Overall, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared dish and meal export price increased by +26.4% against 2017 indices. The growth pace was the most rapid in 2013 when the average export price increased by 46%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Algeria ($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 Sudan (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports into Ecuador

In 2021, the amount of prepared dishes and meals imported into Ecuador totaled X tons, rising by 2.3% compared with 2020 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, prepared dish and meal imports rose remarkably to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% 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 +73.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Chile (X tons), the United States (X tons) and Colombia (X tons) were the main suppliers of prepared dish and meal imports to Ecuador, together accounting for 35% of total imports. These countries were followed by Peru, Mexico, Spain, Brazil, the Netherlands, Germany, Singapore, Belgium, Argentina and China, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +36.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of prepared dishes and meals to Ecuador, comprising 25% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Colombia, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value from Chile was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.3% per year) and Colombia (-0.8% per year).

Import Prices by Country

In 2021, the average prepared dish and meal import price amounted to $X per ton, increasing by 10% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared dish and meal import price increased by +17.0% against 2016 indices. The pace of growth was the most pronounced in 2015 an increase of 24%. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Chile ($X per ton), while the price for Brazil ($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 (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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