Latin America and the Caribbean: Pimenta Pepper Market 2025

Pimenta Pepper Market Size in Latin America and the Caribbean

The Latin American pimenta pepper market reduced to $X in 2022, shrinking by -2.9% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Pimenta Pepper Production in Latin America and the Caribbean

In value terms, pimenta pepper production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 15% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Peru (X tons) and Jamaica (X tons), with a combined 88% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Jamaica (with a CAGR of +3.1%), while production for the other leaders experienced more modest paces of growth.

The average pimenta pepper yield shrank slightly to X tons per ha in 2022, falling by -3.8% on 2021 figures. Over the period under review, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 4.2% against the previous year. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of pimenta pepper were harvested in Latin America and the Caribbean; leveling off at 2021. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 3.8%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Pimenta Pepper Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of pimenta pepper increased by 5.9% to X tons, rising for the fourth consecutive year after three years of decline. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% 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 +90.1% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 27%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, pimenta pepper exports expanded sharply to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons) and Mexico (X tons) dominates exports structure, together creating 87% of total exports. The following exporters - Colombia (X tons), Honduras (X tons) and Brazil (X tons) - together made up 10% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Honduras (with a CAGR of +25.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pimenta pepper supplying countries in Latin America and the Caribbean were Peru ($X), Mexico ($X) and Colombia ($X), together comprising 92% of total exports. Honduras and Brazil lagged somewhat behind, together accounting for a further 3.8%.

Honduras, with a CAGR of +20.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 8.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 14%. Over the period under review, the export prices reached the maximum 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+3.7%), while the other leaders experienced a decline in the export price figures.

Pimenta Pepper Imports

Imports in Latin America and the Caribbean

After two years of growth, purchases abroad of pimenta pepper decreased by -1% to X tons in 2022. Overall, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 52% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell slightly in the following year.

In value terms, pimenta pepper imports rose to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by 49%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Mexico dominates imports structure, reaching X tons, which was approx. 71% of total imports in 2022. It was distantly followed by Brazil (X tons), making up a 9.7% share of total imports. The following importers - Guatemala (X tons), Argentina (X tons) and Chile (X tons) - each amounted to an 11% share of total imports.

Imports into Mexico increased at an average annual rate of +9.7% from 2012 to 2022. At the same time, Brazil (+12.4%), Argentina (+11.7%), Chile (+3.8%) and Guatemala (+1.9%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +12.4% from 2012-2022. While the share of Mexico (+4.8 p.p.) and Brazil (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-2.2 p.p.) and Guatemala (-3.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported pimenta pepper in Latin America and the Caribbean, comprising 73% of total imports. The second position in the ranking was held by Brazil ($X), with a 7.8% share of total imports. It was followed by Guatemala, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +14.3%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+12.2% per year) and Guatemala (+9.2% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 5.2% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pimenta pepper import price increased by +12.5% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 44% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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