Guatemala: Plastic Box Market 2024

Plastic Box Market Size in Guatemala

The Guatemalan plastic box market reduced slightly to $X in 2022, shrinking by -3.5% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then fell slightly in the following year.

Plastic Box Production in Guatemala

In value terms, plastic box production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 18% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Plastic Box Exports

Exports from Guatemala

In 2022, after three years of growth, there was decline in shipments abroad of plastic boxes, cases, crates and similar packing articles, when their volume decreased by -4.8% to X tons. In general, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 31%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic box exports surged to $X in 2022. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

El Salvador (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of plastic box exports from Guatemala, with a combined 67% share of total exports. Mexico, Costa Rica, Panama, Jamaica and Haiti lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jamaica (with a CAGR of +111.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic box exported from Guatemala were Nicaragua ($X), Mexico ($X) and El Salvador ($X), together comprising 53% of total exports. Honduras, Panama, Jamaica, Costa Rica and Haiti lagged somewhat behind, together accounting for a further 41%.

Jamaica, with a CAGR of +118.5%, saw the highest growth rate of the value of exports, in terms of 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 plastic box export price amounted to $X per ton, surging by 31% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price 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, plastic box export price increased by +90.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 46% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Haiti ($X per ton), while the average price for exports to Costa Rica ($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 (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Guatemala

After three years of growth, purchases abroad of plastic boxes, cases, crates and similar packing articles decreased by -23.2% to X tons in 2022. In general, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 28% against the previous year. Imports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, plastic box imports surged to $X in 2022. Over the period under review, imports, however, posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

El Salvador (X tons), the United States (X tons) and Honduras (X tons) were the main suppliers of plastic box imports to Guatemala, together accounting for 66% of total imports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic box suppliers to Guatemala were El Salvador ($X), the United States ($X) and Mexico ($X), together accounting for 62% of total imports.

In terms of the main suppliers, El Salvador, with a CAGR of +23.0%, saw 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 plastic box import price amounted to $X per ton, growing by 64% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic box import price increased by +88.7% against 2019 indices. 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 China ($X per ton), while the price for Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform