Guatemala: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Guatemala

The Guatemalan sugary soft drink market declined modestly to $X in 2022, with a decrease of -2.6% against the previous year. Overall, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.5% against 2020 indices. Sugary soft drink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Sugary Soft Drink Production in Guatemala

In value terms, sugary soft drink production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 38%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Guatemala

In 2022, approx. X litres of sugary soft drinks were exported from Guatemala; waning by -8% on the previous year. In general, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. The exports peaked at X litres in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sugary soft drink exports soared to $X in 2022. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 34%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Honduras (X litres), El Salvador (X litres) and the United States (X litres) were the main destinations of sugary soft drink exports from Guatemala, with a combined 89% share of total exports. Nicaragua and Panama lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +62.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugary soft drink exported from Guatemala were Honduras ($X), El Salvador ($X) and the United States ($X), together accounting for 88% of total exports. Nicaragua and Panama lagged somewhat behind, together accounting for a further 11%.

Among the main countries of destination, Panama, with a CAGR of +56.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sugary soft drink export price stood at $X per litre in 2022, with an increase of 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. As a result, the export price attained 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 ($X per litre), while the average price for exports to Honduras ($X per litre) 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 (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Guatemala

For the seventh consecutive year, Guatemala recorded growth in purchases abroad of sugary soft drinks, which increased by 3.5% to X litres in 2022. Over the period under review, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 83%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, sugary soft drink imports rose markedly to $X in 2022. Overall, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2021 with an increase of 36%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

El Salvador (X litres), Nicaragua (X litres) and Costa Rica (X litres) were the main suppliers of sugary soft drink imports to Guatemala, together accounting for 96% of total imports. The United States lagged somewhat behind, comprising a further 1.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugary soft drink suppliers to Guatemala were Nicaragua ($X), El Salvador ($X) and the United States ($X), with a combined 94% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +21.2%, 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

The average sugary soft drink import price stood at $X per litre in 2022, surging by 6.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 85%. As a result, import price attained the peak level of $X per litre. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for El Salvador ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform