Latin America and the Caribbean: Machinery For Packing Market 2024

Machinery For Packing Market Size in Latin America and the Caribbean

The Latin American machinery for packing market expanded rapidly to $X in 2022, growing by 5.1% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of 9.9%. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Machinery For Packing Production in Latin America and the Caribbean

In value terms, machinery for packing production reduced slightly to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.1% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Machinery For Packing Exports

Exports in Latin America and the Caribbean

In 2022, approx. X units of machinery for packing or wrapping were exported in Latin America and the Caribbean; surging by 4.7% on the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 16% against the previous year. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery for packing exports declined slightly to $X in 2022. Overall, exports, however, showed a pronounced contraction. The growth pace was the most rapid in 2019 when exports increased by 9.3%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil was the key exporter of machinery for packing or wrapping in Latin America and the Caribbean, with the volume of exports amounting to X units, which was near 57% of total exports in 2022. It was distantly followed by Mexico (X units) and Argentina (X units), together creating a 23% share of total exports. The following exporters - Chile (X units), Paraguay (X units), Colombia (X units), Ecuador (X units), Costa Rica (X units), Guatemala (X units), El Salvador (X units) and Peru (X units) - together made up 18% of total exports.

From 2012 to 2022, average annual rates of growth with regard to machinery for packing exports from Brazil stood at +4.8%. At the same time, Paraguay (+29.5%), Ecuador (+14.4%), Costa Rica (+8.3%) and Peru (+2.4%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +29.5% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Mexico (-1.6%), Guatemala (-3.4%), El Salvador (-7.5%), Argentina (-8.4%) and Colombia (-12.2%) illustrated a downward trend over the same period. Brazil (+23 p.p.), Paraguay (+2.2 p.p.) and Ecuador (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Mexico, El Salvador, Colombia and Argentina saw its share reduced by -1.8%, -1.9%, -6% and -11.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest machinery for packing supplier in Latin America and the Caribbean, comprising 59% of total exports. The second position in the ranking was held by Mexico ($X), with a 16% share of total exports. It was followed by Argentina, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Brazil was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-2.7% per year) and Argentina (-7.4% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -6.4% against the previous year. In general, the export price saw a mild decline. The pace of growth was the most pronounced in 2021 an increase of 13% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a 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 Argentina ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+5.1%), while the other leaders experienced more modest paces of growth.

Machinery For Packing Imports

Imports in Latin America and the Caribbean

Machinery for packing imports totaled X units in 2022, surging by 14% compared with the year before. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, machinery for packing imports rose markedly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 19%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Mexico (X units) and Brazil (X units) were the major importers of machinery for packing or wrapping in 2022, amounting to approx. 32% and 22% of total imports, respectively. Chile (X units) took a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (6.2%), Colombia (5.8%) and Peru (5.1%). Guatemala (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Guatemala (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 65% of total imports. Argentina, Colombia, Peru and Guatemala lagged somewhat behind, together accounting for a further 20%.

Guatemala, with a CAGR of +23.5%, recorded 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, therefore, remained relatively stable against the previous year. Overall, the import price, however, showed a slight curtailment. The pace of growth appeared the most rapid in 2013 when the import price increased by 5.4% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Brazil ($X per unit) and Peru ($X per unit), while Guatemala ($X per unit) and Argentina ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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