Latin America and the Caribbean: Frozen Vegetable Market 2024

Frozen Vegetable Market Size in Latin America and the Caribbean

The Latin American frozen vegetable market expanded remarkably to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Frozen Vegetable Production in Latin America and the Caribbean

In value terms, frozen vegetable production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Vegetable Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of frozen vegetables were exported in Latin America and the Caribbean; growing by X% against 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, frozen vegetable exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico was the major exporter of frozen vegetables in Latin America and the Caribbean, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Argentina (X tons) held the second position in the ranking, distantly followed by Ecuador (X tons) and Guatemala (X tons). All these countries together took near X% share of total exports. Peru (X tons) and Chile (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest frozen vegetable supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

In Mexico, frozen vegetable exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Frozen Vegetable Imports

Imports in Latin America and the Caribbean

In 2022, frozen vegetable imports in Latin America and the Caribbean reduced slightly to X tons, remaining stable against the previous year. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2012 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, frozen vegetable imports surged to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Chile (X tons) and Colombia (X tons) represented the main importers of frozen vegetables, together constituting X% of total imports. Guatemala (X tons), the Dominican Republic (X tons), Uruguay (X tons), Costa Rica (X tons), Panama (X tons), Peru (X tons), Honduras (X tons) and Jamaica (X tons) followed a long way behind the leaders.

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

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Colombia, Guatemala, the Dominican Republic, Costa Rica, Panama, Uruguay, Peru, Jamaica and Honduras lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, saw the highest rates of growth with regard to 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 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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