Latin America and the Caribbean: Vegetable Puree Market 2025

Vegetable Puree Market Size in Latin America and the Caribbean

In 2022, the Latin American vegetable puree market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a perceptible curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Puree Production in Latin America and the Caribbean

In value terms, vegetable puree production expanded modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 11%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vegetable Puree Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of vegetable puree were exported in Latin America and the Caribbean; which is down by -14.7% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2020 with an increase of 111% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, vegetable puree exports dropped slightly to $X in 2022. In general, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 106%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Jamaica was the major exporter of vegetable puree in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near 67% of total exports in 2022. Mexico (X tons) ranks second in terms of the total exports with a 13% share, followed by the Dominican Republic (9.6%) and Honduras (9.2%).

Exports from Jamaica increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, Honduras (+25.1%), Mexico (+22.9%) and the Dominican Republic (+12.1%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +25.1% from 2012-2022. Jamaica (+20 p.p.), Mexico (+11 p.p.), Honduras (+7.6 p.p.) and the Dominican Republic (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jamaica ($X) remains the largest vegetable puree supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was taken by Honduras ($X), with an 18% share of total exports. It was followed by Mexico, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Jamaica amounted to +5.4%. In the other countries, the average annual rates were as follows: Honduras (+45.6% per year) and Mexico (+33.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2019 when the export price increased by 15% against the previous year. Over the period under review, the export prices hit record highs in 2022 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 Honduras ($X per ton), while Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+16.3%), while the other leaders experienced more modest paces of growth.

Vegetable Puree Imports

Imports in Latin America and the Caribbean

In 2022, the amount of vegetable puree imported in Latin America and the Caribbean declined to X tons, which is down by -6.2% on the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 34%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, vegetable puree imports declined to $X in 2022. Over the period under review, imports saw a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of 28%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Cuba was the major importer of vegetable puree in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near 48% of total imports in 2022. It was distantly followed by the Dominican Republic (X tons) and Suriname (X tons), together constituting an 18% share of total imports. Chile (X tons), Bahamas (X tons), Panama (X tons), Trinidad and Tobago (X tons), Costa Rica (X tons), Bolivia (X tons), Saint Vincent and the Grenadines (X tons), El Salvador (X tons), Ecuador (X tons) and Venezuela (X tons) held a little share of total imports.

Imports into Cuba increased at an average annual rate of +13.4% from 2012 to 2022. At the same time, Bolivia (+92.1%), Panama (+25.2%), the Dominican Republic (+19.7%), Costa Rica (+13.8%), Suriname (+8.9%), Trinidad and Tobago (+5.0%), Ecuador (+3.6%), Bahamas (+2.9%) and Chile (+1.1%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +92.1% from 2012-2022. By contrast, El Salvador (-2.3%), Saint Vincent and the Grenadines (-6.5%) and Venezuela (-13.7%) illustrated a downward trend over the same period. While the share of Cuba (+35 p.p.), the Dominican Republic (+11 p.p.), Suriname (+3.1 p.p.), Panama (+2.9 p.p.) and Bolivia (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saint Vincent and the Grenadines (-1.8 p.p.) and Venezuela (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable puree importing markets in Latin America and the Caribbean were Cuba ($X), the Dominican Republic ($X) and Chile ($X), with a combined 52% share of total imports. Bahamas, Bolivia, Venezuela, Trinidad and Tobago, Suriname, Panama, Costa Rica, El Salvador, Ecuador and Saint Vincent and the Grenadines lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, Bolivia, with a CAGR of +106.1%, 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 2022, the import price in Latin America and the Caribbean amounted to $X per ton, approximately equating the previous year. In general, the import price, however, continues to indicate a mild decline. The pace of growth appeared the most rapid in 2021 when the import price increased by 14% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bolivia ($X per ton), while Suriname ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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