Guatemala: Cheese And Curd Market 2024

Cheese And Curd Market Size in Guatemala

The Guatemalan cheese and curd market surged to $X in 2022, with an increase of 21% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +95.9% against 2012 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cheese And Curd Production in Guatemala

In value terms, cheese and curd production rose remarkably to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 37% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Cheese And Curd Exports

Exports from Guatemala

Cheese and curd exports from Guatemala surged to X tons in 2022, growing by 116% on the previous year's figure. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 395% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cheese and curd exports surged to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 386% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

El Salvador (X tons) was the main destination for cheese and curd exports from Guatemala, accounting for a 78% share of total exports. Moreover, cheese and curd exports to El Salvador exceeded the volume sent to the second major destination, Honduras (X tons), sevenfold. The third position in this ranking was taken by the United States (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.2% per year) and the United States (+50.1% per year).

In value terms, El Salvador ($X) remains the key foreign market for cheese and curd exports from Guatemala, comprising 85% of total exports. The second position in the ranking was held by Honduras ($X), with a 7.1% share of total exports. It was followed by the United States, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+8.1% per year) and the United States (+70.3% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, increasing by 15% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 33%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to the United States ($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 (+13.4%), while the prices for the other major destinations experienced mixed trend patterns.

Cheese And Curd Imports

Imports into Guatemala

In 2022, imports of cheese and curd into Guatemala skyrocketed to X tons, with an increase of 15% compared with the year before. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, cheese and curd imports skyrocketed to $X in 2022. Overall, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), El Salvador (X tons) and Costa Rica (X tons) were the main suppliers of cheese and curd imports to Guatemala, with a combined 83% share of total imports. Mexico, Honduras, Nicaragua and New Zealand lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nicaragua (with a CAGR of +50.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of cheese and curd to Guatemala, comprising 55% of total imports. The second position in the ranking was held by El Salvador ($X), with a 27% share of total imports. It was followed by Costa Rica, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (+9.9% per year) and Costa Rica (+3.2% per year).

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price attained 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 New Zealand ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform