Guatemala: Caramel Market 2024

Caramel Market Size in Guatemala

The Guatemalan caramel market fell to $X in 2022, declining by X% against the previous year. In general, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Caramel Production in Guatemala

In value terms, caramel production reduced to $X in 2022 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Caramel Exports

Exports from Guatemala

In 2022, approx. X tons of caramel were exported from Guatemala; jumping by X% against the previous year. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, caramel exports soared to $X in 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Honduras (X tons) was the main destination for caramel exports from Guatemala, accounting for a X% share of total exports. Moreover, caramel exports to Honduras exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Costa Rica (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Costa Rica (X% per year).

In value terms, Honduras ($X) emerged as the key foreign market for caramel exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Jamaica, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Honduras totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Jamaica (X% per year).

Export Prices by Country

The average caramel export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Mexico ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Caramel Imports

Imports into Guatemala

In 2022, overseas purchases of caramel increased by X% to X tons, rising for the sixth consecutive year after two years of decline. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, caramel imports soared to $X in 2022. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Honduras (X tons) were the main suppliers of caramel imports to Guatemala, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Honduras (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest caramel suppliers to Guatemala were the United States ($X), China ($X) and Mexico ($X), together comprising X% of total imports. These countries were followed by Honduras, which accounted for a further X%.

Among the main suppliers, Honduras, with a CAGR of X%, recorded 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 2022, the average caramel import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, caramel import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform