Guatemala: Canned Vegetable Market 2024

Canned Vegetable Market Size in Guatemala

In 2022, the Guatemalan canned vegetable market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed a remarkable increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Canned Vegetable Production in Guatemala

In value terms, canned vegetable production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Canned vegetable production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Canned Vegetable Exports

Exports from Guatemala

For the third consecutive year, Guatemala recorded growth in overseas shipments of canned vegetables, which increased by 3.3% to X tons in 2022. In general, exports saw strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 27%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, canned vegetable exports surged to $X in 2022. Over the period under review, exports enjoyed resilient growth. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for canned vegetable exports from Guatemala, with a 62% share of total exports. Moreover, canned vegetable exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X tons), threefold. El Salvador (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+4.3% per year) and El Salvador (+6.8% per year).

In value terms, the United States ($X) remains the key foreign market for canned vegetables exports from Guatemala, comprising 62% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 19% share of total exports. It was followed by El Salvador, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+4.0% per year) and El Salvador (+7.3% per year).

Export Prices by Country

In 2022, the average canned vegetable export price amounted to $X per ton, growing by 13% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Honduras ($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 (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Guatemala

Canned vegetable imports into Guatemala rose rapidly to X tons in 2022, picking up by 14% compared with the previous year. In general, imports posted a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 28% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, canned vegetable imports surged to $X in 2022. Over the period under review, imports recorded strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, El Salvador (X tons) constituted the largest canned vegetable supplier to Guatemala, accounting for a 60% share of total imports. Moreover, canned vegetable imports from El Salvador exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from El Salvador totaled +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.5% per year) and Mexico (+6.7% per year).

In value terms, El Salvador ($X), the United States ($X) and Mexico ($X) were the largest canned vegetable suppliers to Guatemala, together comprising 80% of total imports. Honduras, Spain, China, Italy, Costa Rica and Thailand lagged somewhat behind, together comprising a further 17%.

Among the main suppliers, China, with a CAGR of +44.1%, 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

In 2022, the average canned vegetable import price amounted to $X per ton, increasing by 12% against the previous year. In general, the import price, however, recorded a mild setback. The pace of growth was the most pronounced in 2021 an increase of 15%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform