Latin America and the Caribbean: Canned Meat Market 2024

Canned Meat Market Size in Latin America and the Caribbean

In 2021, the Latin American canned meat market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Canned Meat Production in Latin America and the Caribbean

In value terms, canned meat production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Canned Meat Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of canned meat increased by 1.4% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a perceptible slump. The growth pace was the most rapid in 2016 when exports increased by 2.3% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, canned meat exports soared to $X in 2021. In general, exports, however, showed a pronounced decrease. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil dominates exports structure, reaching X tons, which was near 71% of total exports in 2021. Argentina (X tons) ranks second in terms of the total exports with a 9.6% share, followed by Chile (7.7%). The following exporters - Guatemala (X tons), Uruguay (X tons) and Mexico (X tons) - together made up 7.8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to canned meat exports from Brazil stood at -5.2%. At the same time, Guatemala (+10.2%) and Uruguay (+8.6%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.2% from 2012-2021. Chile and Mexico experienced a relatively flat trend pattern. By contrast, Argentina (-1.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Guatemala, Uruguay and Argentina increased by +2.5, +2.2, +2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest canned meat supplier in Latin America and the Caribbean, comprising 78% of total exports. The second position in the ranking was held by Argentina ($X), with a 6% share of total exports. It was followed by Uruguay, with a 4.5% share.

In Brazil, canned meat exports shrank by an average annual rate of -2.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Argentina (-5.3% per year) and Uruguay (+5.6% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. 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 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Chile ($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 (+6.1%), while the other leaders experienced mixed trends in the export price figures.

Canned Meat Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of canned meat were imported in Latin America and the Caribbean; surging by 16% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned meat imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of canned meat, namely Colombia, Mexico, Chile, Panama, Cuba, Jamaica, El Salvador, Guatemala, Honduras, Uruguay, Costa Rica and the Dominican Republic, represented more than two-thirds of total import. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +109.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Panama ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, with a combined 37% share of total imports.

In terms of the main importing countries, Panama, with a CAGR of +116.6%, 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 6.2% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Venezuela ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :