Latin America and the Caribbean: Gingerbread Market 2024

Gingerbread Market Size in Latin America and the Caribbean

The Latin American gingerbread market contracted modestly to $X in 2022, stabilizing at the previous year. In general, consumption, however, showed a perceptible slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Gingerbread Production in Latin America and the Caribbean

In value terms, gingerbread production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Gingerbread Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of gingerbread decreased by -5.1% to X tons for the first time since 2015, thus ending a six-year rising trend. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +68.6% against 2015 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, gingerbread exports amounted to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +72.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Brazil dominates exports structure, reaching X tons, which was near 88% of total exports in 2022. It was distantly followed by Argentina (X tons), generating a 5.8% share of total exports. Mexico (X tons) and El Salvador (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gingerbread exports from Brazil stood at +9.6%. At the same time, Mexico (+19.6%) and El Salvador (+2.1%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.6% from 2012-2022. By contrast, Argentina (-12.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Mexico increased by +30 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest gingerbread supplier in Latin America and the Caribbean, comprising 93% of total exports. The second position in the ranking was held by Argentina ($X), with a 3.9% share of total exports. It was followed by El Salvador, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at +8.1%. In the other countries, the average annual rates were as follows: Argentina (-15.2% per year) and El Salvador (+5.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 8.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+3.2%), while the other leaders experienced a decline in the export price figures.

Gingerbread Imports

Imports in Latin America and the Caribbean

After five years of growth, purchases abroad of gingerbread decreased by -2.8% to X tons in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, gingerbread imports rose to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 36%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Paraguay (X tons), Uruguay (X tons), Peru (X tons), Chile (X tons) and Brazil (X tons) represented roughly 74% of total imports in 2022. Guyana (X tons), Venezuela (X tons), Guatemala (X tons), Bolivia (X tons), Argentina (X tons), the Dominican Republic (X tons) and Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guyana (with a CAGR of +25.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Paraguay ($X), Brazil ($X) and Peru ($X) were the countries with the highest levels of imports in 2022, together accounting for 51% of total imports. Uruguay, Chile, Guyana, Argentina, Ecuador, Venezuela, Bolivia, the Dominican Republic and Guatemala lagged somewhat behind, together comprising a further 42%.

Guyana, with a CAGR of +45.2%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 7.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guyana (+16.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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