Latin America and the Caribbean: Baby Food Market 2024

Baby Food Market Size in Latin America and the Caribbean

The Latin American baby food market was finally on the rise to reach $X in 2021, after seven years of decline. In general, consumption, however, recorded a pronounced decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Baby Food Production in Latin America and the Caribbean

In value terms, baby food production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 7.4%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Baby Food Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of food preparations for infants decreased by -11.8% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 7.5%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, baby food exports fell remarkably to $X in 2021. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico was the main exporting country with an export of around X tons, which amounted to 47% of total exports. It was distantly followed by Chile (X tons) and Brazil (X tons), together making up a 46% share of total exports. The following exporters - Argentina (X tons) and Nicaragua (X tons) - each accounted for a 3.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nicaragua (with a CAGR of +11.0%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest baby food supplier in Latin America and the Caribbean, comprising 56% of total exports. The second position in the ranking was held by Chile ($X), with a 20% share of total exports. It was followed by Brazil, with a 15% share.

In Mexico, baby food exports decreased by an average annual rate of -8.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+0.3% per year) and Brazil (-0.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -16.4% against the previous year. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2013 when the export price increased by 20%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while Brazil ($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 (+0.3%), while the other leaders experienced a decline in the export price figures.

Baby Food Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of food preparations for infants decreased by -3.7% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of 7.9%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, baby food imports dropped to $X in 2021. Over the period under review, imports saw a pronounced decline. The growth pace was the most rapid in 2013 when imports increased by 14%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Colombia (X tons), the Dominican Republic (X tons), Peru (X tons), Guatemala (X tons), Nicaragua (X tons), Honduras (X tons), Ecuador (X tons), Panama (X tons), El Salvador (X tons), Chile (X tons), Bolivia (X tons) and Mexico (X tons) represented the main importer of food preparations for infants in Latin America and the Caribbean, comprising 78% of total import. Brazil (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of +18.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest baby food importing markets in Latin America and the Caribbean were Colombia ($X), the Dominican Republic ($X) and Peru ($X), with a combined 34% share of total imports. These countries were followed by Ecuador, Panama, Guatemala, Honduras, Mexico, Nicaragua, Brazil, Chile, El Salvador and Bolivia, which together accounted for a further 50%.

Panama, with a CAGR of +20.1%, recorded the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 6.1% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while Nicaragua ($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 (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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