Guatemala: Animal Feed Market 2024

Animal Feed Market Size in Guatemala

The Guatemalan animal feed market amounted to $X in 2022, remaining relatively unchanged against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Animal Feed Production in Guatemala

In value terms, animal feed production stood at $X in 2022 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 19% against the previous year. Animal feed production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports from Guatemala

In 2022, exports of animal and pet feed from Guatemala skyrocketed to X tons, jumping by 18% on 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 43%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, animal feed exports skyrocketed to $X in 2022. Overall, exports showed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Nicaragua (X tons), Honduras (X tons) and El Salvador (X tons) were the main destinations of animal feed exports from Guatemala, with a combined 86% share of total exports. Ecuador, the Dominican Republic, Chile, Panama and Belize lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +130.8%), while the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Honduras ($X) and Ecuador ($X) appeared to be the largest markets for animal feed exported from Guatemala worldwide, together accounting for 72% of total exports.

Ecuador, with a CAGR of +139.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, jumping by 18% against the previous year. Overall, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed export price increased by +26.2% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Guatemala

In 2022, supplies from abroad of animal and pet feed decreased by -30.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 88% against the previous year. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, animal feed imports soared to $X in 2022. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by 32%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, El Salvador (X tons) constituted the largest supplier of animal feed to Guatemala, with a 48% share of total imports. Moreover, animal feed imports from El Salvador exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from El Salvador stood at +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+5.6% per year) and China (+17.6% per year).

In value terms, the largest animal feed suppliers to Guatemala were El Salvador ($X), the United States ($X) and Mexico ($X), together comprising 51% of total imports.

In terms of the main suppliers, El Salvador, with a CAGR of +39.8%, 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 animal feed import price stood at $X per ton in 2022, rising by 71% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform