Latin America and the Caribbean: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Latin America and the Caribbean

In 2022, after two years of growth, there was significant decline in the Latin American industrial bakery machinery market, when its value decreased by -13.3% to $X. Overall, consumption continues to indicate a slight slump. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Industrial Bakery Machinery Production in Latin America and the Caribbean

In value terms, industrial bakery machinery production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2015 with an increase of 77% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Industrial Bakery Machinery Exports

Exports in Latin America and the Caribbean

Industrial bakery machinery exports shrank to X units in 2022, dropping by -6.3% against the previous year. In general, exports showed a noticeable descent. The pace of growth appeared the most rapid in 2016 with an increase of 61%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial bakery machinery exports shrank modestly to $X in 2022. Overall, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2016 with an increase of 60%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Brazil (X units) was the largest exporter of industrial bakery machinery, creating 59% of total exports. Mexico (X units) ranks second in terms of the total exports with a 17% share, followed by Argentina (9.3%) and Peru (5%). Colombia (X units) and Guatemala (X units) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of industrial bakery machinery. At the same time, Colombia (+20.1%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +20.1% from 2012-2022. Guatemala experienced a relatively flat trend pattern. By contrast, Mexico (-5.2%), Argentina (-7.9%) and Peru (-8.3%) illustrated a downward trend over the same period. Brazil (+17 p.p.) and Colombia (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Peru, Mexico and Argentina saw its share reduced by -4.1%, -5.2% and -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest industrial bakery machinery supplier in Latin America and the Caribbean, comprising 58% of total exports. The second position in the ranking was held by Mexico ($X), with a 23% share of total exports. It was followed by Argentina, with a 7.4% share.

In Brazil, industrial bakery machinery exports expanded at an average annual rate of +1.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-5.8% per year) and Argentina (-13.0% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, growing by 4.3% against the previous year. Overall, the export price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of 6.4% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Mexico ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.3%), while the other leaders experienced mixed trends in the export price figures.

Industrial Bakery Machinery Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of industrial bakery machinery were imported in Latin America and the Caribbean; waning by -22.6% on 2021 figures. Overall, imports saw a mild descent. The most prominent rate of growth was recorded in 2014 when imports increased by 37% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial bakery machinery imports dropped remarkably to $X in 2022. In general, imports continue to indicate a slight descent. The pace of growth appeared the most rapid in 2014 when imports increased by 33% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X units) and Chile (X units) represented the key importers of industrial bakery machinery in Latin America and the Caribbean, together finishing at near 29% of total imports. Brazil (X units) held the next position in the ranking, followed by Peru (X units), the Dominican Republic (X units), Venezuela (X units), Argentina (X units), Colombia (X units) and Guatemala (X units). All these countries together held approx. 47% share of total imports. The following importers - Ecuador (X units), Paraguay (X units), Uruguay (X units) and Belize (X units) - together made up 12% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belize (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Brazil ($X) constituted the countries with the highest levels of imports in 2022, together comprising 45% of total imports. The Dominican Republic, Peru, Guatemala, Colombia, Venezuela, Ecuador, Argentina, Paraguay, Uruguay and Belize lagged somewhat behind, together accounting for a further 45%.

Belize, with a CAGR of +36.3%, saw the highest rates of growth with regard to 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 unit, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.5%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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