Guatemala: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Guatemala

In 2022, the Guatemalan market for mixed condiments, sauses and seasonings increased by 8.3% to $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a perceptible increase 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, consumption decreased by -3.3% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Guatemala

In value terms, mixed condiment, sause and seasoning production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 56%. Mixed condiment, sause and seasoning production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Guatemala

In 2022, overseas shipments of mixed condiments, sauses and seasonings decreased by -3.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 96%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, mixed condiment, sause and seasoning exports rose remarkably to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2019 when exports increased by 84% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Honduras (X tons), the United States (X tons) and El Salvador (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Guatemala, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +37.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mixed condiment, sause and seasoning exported from Guatemala were Honduras ($X), the United States ($X) and El Salvador ($X), with a combined 68% share of total exports. Costa Rica, Nicaragua, Mexico, Panama and Suriname lagged somewhat behind, together comprising a further 29%.

Mexico, with a CAGR of +41.7%, saw the highest growth rate of 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

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Suriname ($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 Mexico (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Guatemala

In 2022, overseas purchases of mixed condiments, sauses and seasonings were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, mixed condiment, sause and seasoning imports soared to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +21.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 28%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Costa Rica (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Guatemala, with a combined 88% share of total imports. El Salvador and China lagged somewhat behind, together accounting for a further 7.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by El Salvador (with a CAGR of +12.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning suppliers to Guatemala were Mexico ($X), Costa Rica ($X) and the United States ($X), together accounting for 91% of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +18.0%, recorded the highest rates of growth with regard to 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 import price for mixed condiments, sauses and seasonings amounted to $X per ton, rising by 3.3% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed condiment, sause and seasoning import price increased by +40.8% against 2017 indices. The most prominent rate of growth was recorded in 2021 an increase of 22%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for El Salvador ($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 (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform