Guatemala: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in Guatemala

In 2022, the Guatemalan tomato ketchup market increased by 18% to $X, rising for the fourth consecutive year after five years of decline. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +85.2% against 2018 indices. Tomato ketchup consumption peaked in 2022 and is expected to retain growth in the near future.

Tomato Ketchup Production in Guatemala

In value terms, tomato ketchup production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tomato Ketchup Exports

Exports from Guatemala

In 2022, the amount of tomato ketchup and tomato sauces exported from Guatemala expanded markedly to X tons, picking up by 7.4% compared with 2021. Overall, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +8.4% 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 +41.1% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 20%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, tomato ketchup exports soared to $X in 2022. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Nicaragua (X tons), El Salvador (X tons) and Honduras (X tons) were the main destinations of tomato ketchup exports from Guatemala, with a combined 71% share of total exports. Costa Rica, the United States, Belize and Panama lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +20.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tomato ketchup exported from Guatemala were Nicaragua ($X), El Salvador ($X) and Costa Rica ($X), together comprising 71% of total exports. The United States, Honduras, Panama and Belize lagged somewhat behind, together comprising a further 28%.

The United States, with a CAGR of +24.7%, 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 tomato ketchup export price amounted to $X per ton, surging by 9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. 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 ($X per ton), while the average price for exports to Belize ($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 (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Ketchup Imports

Imports into Guatemala

In 2022, tomato ketchup imports into Guatemala rose significantly to X tons, picking up by 9.8% against the year before. Over the period under review, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 47% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, tomato ketchup imports soared to $X in 2022. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of tomato ketchup to Guatemala, accounting for a 71% share of total imports. Moreover, tomato ketchup imports from Costa Rica exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Honduras (X tons) ranked third in terms of total imports with a 0.7% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica totaled +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.7% per year) and Honduras (-9.0% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of tomato ketchup and tomato sauces to Guatemala, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 27% share of total imports. It was followed by Honduras, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value from Costa Rica totaled +30.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+13.6% per year) and Honduras (-8.5% per year).

Import Prices by Country

The average tomato ketchup import price stood at $X per ton in 2022, picking up by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Chile ($X per ton) and the United States ($X per ton), while the price for Costa Rica ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform