Latin America and the Caribbean: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Latin America and the Caribbean

After three years of decline, the Latin American prepared dish and meal market increased by 10% to $X in 2021. Overall, consumption, however, showed a pronounced decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Prepared Dishes And Meals in Latin America and the Caribbean

In value terms, prepared dish and meal production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Prepared Dishes And Meals

Exports in Latin America and the Caribbean

In 2021, shipments abroad of prepared dishes and meals increased by 0.4% to X tons, rising for the fourth consecutive year after five years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 16% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, prepared dish and meal exports expanded sharply to $X in 2021. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 6.5% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Brazil (X tons), Guatemala (X tons), Mexico (X tons), the Dominican Republic (X tons), Costa Rica (X tons), Colombia (X tons), El Salvador (X tons) and Chile (X tons) represented the largest exporter of prepared dishes and meals in Latin America and the Caribbean, comprising 89% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by El Salvador (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest prepared dish and meal supplying countries in Latin America and the Caribbean were Costa Rica ($X), Brazil ($X) and Mexico ($X), together accounting for 65% of total exports. Chile, Colombia, the Dominican Republic, Guatemala and El Salvador lagged somewhat behind, together accounting for a further 25%.

El Salvador, with a CAGR of +14.1%, 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

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 5.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 13%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+10.4%), while the other leaders experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports in Latin America and the Caribbean

In 2021, the amount of prepared dishes and meals imported in Latin America and the Caribbean surged to X tons, growing by 23% on the year before. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Colombia (X tons), Brazil (X tons), Chile (X tons), Guatemala (X tons), Peru (X tons) and Honduras (X tons) were the key importers of prepared dishes and meals, together committing 55% of total imports. Argentina (X tons), the Dominican Republic (X tons), Jamaica (X tons), Venezuela (X tons), El Salvador (X tons) and Panama (X tons) took a minor share of total imports.

Imports into Mexico increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, Panama (+38.9%), Jamaica (+9.9%), Peru (+7.5%), Guatemala (+7.0%), Colombia (+5.3%), Argentina (+4.7%), the Dominican Republic (+4.5%), Chile (+4.1%), Brazil (+3.2%), Venezuela (+1.6%) and El Salvador (+1.5%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +38.9% from 2012-2021. By contrast, Honduras (-2.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Panama and Jamaica increased by +2.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Colombia ($X) and Guatemala ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 31% of total imports. These countries were followed by Brazil, Peru, Chile, Panama, Honduras, El Salvador, the Dominican Republic, Argentina, Venezuela and Jamaica, which together accounted for a further 46%.

In terms of the main importing countries, Panama, with a CAGR of +46.8%, 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 import price in Latin America and the Caribbean stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 6.4% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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