Guatemala: Powdered Milk Market 2024

Powdered Milk Market Size in Guatemala

The Guatemalan powdered milk market surged to $X in 2022, with an increase of 27% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Powdered Milk Production in Guatemala

In value terms, powdered milk production dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 23%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Powdered Milk Exports

Exports from Guatemala

Powdered milk exports from Guatemala dropped dramatically to X tons in 2022, which is down by -60.3% on the previous year. Over the period under review, exports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2016 with an increase of 151%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, powdered milk exports reduced rapidly to $X in 2022. Overall, exports, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 131%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Belize (X tons), Nicaragua (X tons) and Honduras (X tons) were the main destinations of powdered milk exports from Guatemala, with a combined 97% share of total exports. These countries were followed by the United States, which accounted for a further 2.5%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +73.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belize ($X) remains the key foreign market for powdered milk exports from Guatemala, comprising 56% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 28% share of total exports. It was followed by Honduras, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Belize amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+78.0% per year) and Honduras (+48.3% per year).

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, rising by 61% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk export price increased by +78.0% against 2020 indices. 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 ($X per ton), while the average price for exports to Honduras ($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 Nicaragua (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Guatemala

In 2022, supplies from abroad of powdered milk was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by 18% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, powdered milk imports surged to $X in 2022. Overall, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +90.7% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest powdered milk supplier to Guatemala, accounting for a 51% share of total imports. Moreover, powdered milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Costa Rica (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.1% per year) and Costa Rica (-3.1% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered milk to Guatemala, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 19% share of total imports. It was followed by Nicaragua, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand stood at +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.2% per year) and Nicaragua (-9.7% per year).

Import Prices by Country

In 2022, the average powdered milk import price amounted to $X per ton, surging by 22% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Nicaragua ($X per ton) and New Zealand ($X per ton), while the price for the United States ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform