Guatemala: Pasta Products Market 2024

Pasta Products Market Size in Guatemala

The Guatemalan pasta products market expanded to $X in 2022, with an increase of 4% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Pasta Products Production in Guatemala

In value terms, pasta products production reached $X in 2022 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 41%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Pasta Products Exports

Exports from Guatemala

In 2022, the amount of dried, undried and frozen pasta and pasta products exported from Guatemala rose rapidly to X tons, picking up by 14% compared with 2021. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 195%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, pasta products exports soared to $X in 2022. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 84%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Honduras (X tons), the United States (X tons) and El Salvador (X tons) were the main destinations of pasta products exports from Guatemala, together accounting for 99.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +84.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for dried, undried and frozen pasta and pasta products exports from Guatemala, comprising 63% of total exports. The second position in the ranking was held by Honduras ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+74.7% per year) and El Salvador (+2.5% per year).

Export Prices by Country

In 2022, the average pasta products export price amounted to $X per ton, increasing by 15% against the previous year. Overall, the export price, however, showed a perceptible decline. The pace of growth was the most pronounced in 2017 when the average export price increased by 22%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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 the United States (+0.8%), while the prices for the other major destinations experienced a decline.

Pasta Products Imports

Imports into Guatemala

Pasta products imports into Guatemala skyrocketed to X tons in 2022, picking up by 26% on the previous year's figure. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, pasta products imports soared to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +127.6% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Mexico (X tons) and Italy (X tons) were the main suppliers of pasta products imports to Guatemala, together comprising 82% of total imports. China, Chile and South Korea lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pasta products suppliers to Guatemala were the United States ($X), Mexico ($X) and Italy ($X), together accounting for 83% of total imports. China, Chile and South Korea lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, China, with a CAGR of +22.8%, 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 pasta products import price amounted to $X per ton, surging by 19% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pasta products import price increased by +29.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for South Korea ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform