Latin America and the Caribbean: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Latin America and the Caribbean

The Latin American breakfast cereal market stood at $X in 2021, surging by X% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Breakfast Cereal Production in Latin America and the Caribbean

In value terms, breakfast cereal production reached $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Breakfast Cereal Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of breakfast cereals increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, breakfast cereal exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Mexico (X tons) was the main exporter of breakfast cereals, achieving X% of total exports. Chile (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by El Salvador (X%), Guatemala (X%), Trinidad and Tobago (X%) and Brazil (X%). Honduras (X tons) took a little share of total exports.

Exports from Mexico increased at an average annual rate of +X% from 2012 to 2021. At the same time, Brazil (+X%), Guatemala (+X%), Honduras (+X%), Trinidad and Tobago (+X%) and El Salvador (+X%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, Chile (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Guatemala, Brazil, Trinidad and Tobago, El Salvador and Honduras increased by +X, +X, +X, +X, +X and +X percentage points, respectively.

In value terms, Mexico ($X) remains the largest breakfast cereal supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with a X% share of total exports. It was followed by Trinidad and Tobago, with a X% share.

In Mexico, breakfast cereal exports expanded at an average annual rate of +X% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: El Salvador (+X% per year) and Trinidad and Tobago (+X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, surging by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by the country of origin: the country with the highest price was Trinidad and Tobago ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+X%), while the other leaders experienced more modest paces of growth.

Breakfast Cereal Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of breakfast cereals were imported in Latin America and the Caribbean; which is down by -X% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, breakfast cereal imports stood at $X in 2021. Over the period under review, imports, however, saw mild growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of breakfast cereals, namely Guatemala, the Dominican Republic, Mexico, Jamaica, Peru, Colombia, Panama, El Salvador, Costa Rica, Honduras, Nicaragua and Chile, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were in the Dominican Republic (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest breakfast cereal importing markets in Latin America and the Caribbean were Guatemala ($X), Mexico ($X) and the Dominican Republic ($X), with a combined X% share of total imports. These countries were followed by Panama, Chile, El Salvador, Jamaica, Honduras, Nicaragua, Costa Rica, Colombia and Peru, which together accounted for a further X terms of the main importing countries, Panama, 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Chile ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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