Guatemala: Vegetable Waxes Market 2025

Vegetable Waxes Market Size in Guatemala

The Guatemalan vegetable waxes market declined to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption, however, showed a abrupt decrease. Vegetable waxes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Waxes Production in Guatemala

In value terms, vegetable waxes production declined to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Vegetable waxes production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Waxes Exports

Exports from Guatemala

In 2022, shipments abroad of vegetable waxes decreased by X% to X tons, falling for the second year in a row after three years of decline. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, vegetable waxes exports reduced dramatically to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Honduras (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of vegetable waxes exports from Guatemala, with a combined X% share of total exports.

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

In value terms, the largest markets for vegetable waxes exported from Guatemala were Honduras ($X), El Salvador ($X) and Nicaragua ($X), together accounting for X% of total exports.

Nicaragua, with a CAGR of X%, recorded 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

The average vegetable waxes export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Costa Rica ($X per ton), while the average price for exports to Nicaragua ($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 (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Waxes Imports

Imports into Guatemala

In 2022, purchases abroad of vegetable waxes was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable waxes imports soared to $X in 2022. Over the period under review, imports recorded a moderate expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest vegetable waxes supplier to Guatemala, with a X% share of total imports. Moreover, vegetable waxes imports from Malaysia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

In value terms, the largest vegetable waxes suppliers to Guatemala were Germany ($X), Malaysia ($X) and Brazil ($X), with a combined X% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of X%, saw the highest growth rate of 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 vegetable waxes import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price saw perceptible growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform