Guatemala: Plastic Bag Market 2024

Plastic Bag Market Size in Guatemala

The Guatemalan plastic bag market reduced slightly to $X in 2022, which is down by -1.6% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +0.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Guatemala

In value terms, plastic bag production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 49% against the previous year. Plastic bag production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Bag Exports

Exports from Guatemala

After two years of growth, shipments abroad of plastic sacks and bags decreased by -5.2% to X tons in 2022. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, plastic bag exports rose to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +47.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Costa Rica (X tons) was the main destination for plastic bag exports from Guatemala, with a 47% share of total exports. Moreover, plastic bag exports to Costa Rica exceeded the volume sent to the second major destination, El Salvador (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+4.2% per year) and Mexico (-2.8% per year).

In value terms, Costa Rica ($X) remains the key foreign market for plastic sacks and bags exports from Guatemala, comprising 38% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 16% 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 Costa Rica totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+4.2% per year) and Honduras (-0.8% per year).

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, with an increase of 10% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2021 an increase of 14%. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Costa Rica ($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 Honduras (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Guatemala

In 2022, overseas purchases of plastic sacks and bags decreased by -7.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a slight slump. The growth pace was the most rapid in 2016 with an increase of 8.7%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic bag imports shrank to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, El Salvador (X tons) constituted the largest supplier of plastic bag to Guatemala, with a 44% share of total imports. Moreover, plastic bag imports from El Salvador exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from El Salvador was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.0% per year) and the United States (+1.8% per year).

In value terms, the largest plastic bag suppliers to Guatemala were El Salvador ($X), the United States ($X) and China ($X), together comprising 72% of total imports. Israel, Mexico, Costa Rica, Brazil and Honduras lagged somewhat behind, together comprising a further 16%.

In terms of the main suppliers, Israel, with a CAGR of +19.6%, 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

The average plastic bag import price stood at $X per ton in 2022, growing by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2013 when the average import price increased by 11%. The import price peaked in 2022 and is likely to see steady 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 Israel ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform