Latin America and the Caribbean: Bottled Water Market 2024

Bottled Water Market Size in Latin America and the Caribbean

The Latin American bottled water market declined modestly to $X in 2022, waning by -2.2% against the previous year. The market value increased at an average annual rate of +2.3% over the period 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 hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Bottled Water Production in Latin America and the Caribbean

In value terms, bottled water production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bottled Water Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of bottled waters decreased by -3.2% to X litres, falling for the second consecutive year after five years of growth. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 with an increase of 25% against the previous year. As a result, the exports attained the peak of X litres. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bottled water exports totaled $X in 2022. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Mexico prevails in exports structure, reaching X litres, which was near 73% of total exports in 2022. It was distantly followed by Guatemala (X litres), Trinidad and Tobago (X litres) and Brazil (X litres), together committing a 19% share of total exports. The following exporters - Peru (X litres) and El Salvador (X litres) - each accounted for a 3.9% share of total exports.

Exports from Mexico increased at an average annual rate of +15.5% from 2012 to 2022. At the same time, El Salvador (+65.5%) and Brazil (+40.5%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +65.5% from 2012-2022. Guatemala experienced a relatively flat trend pattern. By contrast, Peru (-3.0%) and Trinidad and Tobago (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico, Brazil and El Salvador increased by +31, +5.4 and +1.7 percentage points, respectively.

In value terms, Mexico ($X) remains the largest bottled water supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was held by Guatemala ($X), with a 3.1% share of total exports. It was followed by Trinidad and Tobago, with a 2.7% share.

In Mexico, bottled water exports increased at an average annual rate of +19.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+3.4% per year) and Trinidad and Tobago (-3.2% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per litre in 2022, increasing by 14% against the previous year. Export price indicated a pronounced 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, bottled water export price increased by +84.7% against 2014 indices. The pace of growth was the most pronounced in 2021 an increase of 16% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.8%), while the other leaders experienced more modest paces of growth.

Bottled Water Imports

Imports in Latin America and the Caribbean

Bottled water imports rose markedly to X litres in 2022, with an increase of 11% against the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.6% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 58% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, bottled water imports rose sharply to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.5% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 36%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Mexico (X litres), distantly followed by Panama (X litres), El Salvador (X litres) and the Dominican Republic (X litres) were the main importers of bottled waters, together committing 57% of total imports. Cayman Islands (X litres), Barbados (X litres), Nicaragua (X litres), Honduras (X litres), Saint Maarten (Dutch part) (X litres), Curacao (X litres), Guyana (X litres), Bahamas (X litres) and Costa Rica (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +56.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Panama ($X) and the Dominican Republic ($X) were the countries with the highest levels of imports in 2022, with a combined 44% share of total imports.

Panama, with a CAGR of +51.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per litre, growing by 3% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2016 an increase of 4.9%. The level of import peaked at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per litre), while Honduras ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cayman Islands (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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