Guatemala: Confectionery Market 2024

Confectionery Market Size in Guatemala

The Guatemalan confectionery market stood at $X in 2022, rising by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Confectionery Production in Guatemala

In value terms, confectionery production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Confectionery Exports

Exports from Guatemala

In 2022, overseas shipments of confectionery increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, confectionery exports soared to $X in 2022. Overall, total exports indicated a prominent expansion 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for confectionery exports from Guatemala, with a X% share of total exports. Moreover, confectionery exports to Mexico exceeded the volume sent to the second major destination, Honduras (X tons), twofold. The Dominican Republic (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 Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (X% per year) and the Dominican Republic (X% per year).

In value terms, Mexico ($X), Honduras ($X) and the Dominican Republic ($X) constituted the largest markets for confectionery exported from Guatemala worldwide, with a combined X% share of total exports. The United States, Costa Rica, El Salvador, Nicaragua and Panama lagged somewhat behind, together comprising a further X%.

The United States, with a CAGR of X%, recorded 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 confectionery export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 Nicaragua (X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into Guatemala

In 2022, approx. X tons of confectionery were imported into Guatemala; with an increase of X% compared with 2021 figures. In general, total imports indicated a buoyant expansion from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, confectionery imports skyrocketed to $X in 2022. Overall, imports showed a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Mexico (X tons), Costa Rica (X tons) and El Salvador (X tons) were the main suppliers of confectionery imports to Guatemala, with a combined X% share of total imports. China, the United States, Turkey, Colombia and Honduras lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest confectionery suppliers to Guatemala were Mexico ($X), the United States ($X) and China ($X), together accounting for X% of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average confectionery import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform