Latin America and the Caribbean: Mushroom And Truffle Market 2025

Mushroom And Truffle Market Size in Latin America and the Caribbean

In 2022, the Latin American mushroom and truffle market decreased by -1.2% to $X, falling for the third consecutive year after two years of growth. In general, consumption recorded a slight decrease. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Mushroom And Truffle Production in Latin America and the Caribbean

In value terms, mushroom and truffle production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 7.8% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Mexico (X tons) constituted the country with the largest volume of mushroom and truffle production, accounting for 84% of total volume. Moreover, mushroom and truffle production in Mexico exceeded the figures recorded by the second-largest producer, Guatemala (X tons), ninefold. The third position in this ranking was taken by Colombia (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Guatemala (+1.0% per year) and Colombia (+0.8% per year).

Mushroom And Truffle Exports

Exports in Latin America and the Caribbean

In 2022, exports of mushrooms and truffles in Latin America and the Caribbean reached X tons, therefore, remained relatively stable against the previous year's figure. In general, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 44% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, mushroom and truffle exports surged to $X in 2022. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 41% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

In 2022, Mexico (X tons) represented the largest exporter of mushrooms and truffles, creating 86% of total exports. It was distantly followed by Guatemala (X tons), comprising a 10% share of total exports. Colombia (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +11.6% from 2012 to 2022. At the same time, Guatemala (+17.6%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +17.6% from 2012-2022. By contrast, Colombia (-9.4%) illustrated a downward trend over the same period. Mexico (+24 p.p.) and Guatemala (+5.9 p.p.) significantly strengthened its position in terms of the total exports, while Colombia saw its share reduced by -10.2% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest mushroom and truffle supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was held by Guatemala ($X), with a 9.1% share of total exports.

In Mexico, mushroom and truffle exports increased at an average annual rate of +12.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+31.1% per year) and Colombia (-11.7% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+11.5%), while the other leaders experienced mixed trends in the export price figures.

Mushroom And Truffle Imports

Imports in Latin America and the Caribbean

In 2022, imports of mushrooms and truffles in Latin America and the Caribbean shrank modestly to X tons, declining by -2.5% against 2021 figures. In general, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2015 when imports increased by 45%. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, mushroom and truffle imports dropped to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -26.2% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 42%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Guatemala dominates imports structure, recording X tons, which was near 58% of total imports in 2022. Bahamas (X tons) ranks second in terms of the total imports with a 9.6% share, followed by Jamaica (7%). The following importers - El Salvador (X tons), Costa Rica (X tons), Panama (X tons), Trinidad and Tobago (X tons), Honduras (X tons) and Antigua and Barbuda (X tons) - together made up 14% of total imports.

Imports into Guatemala increased at an average annual rate of +21.9% from 2012 to 2022. At the same time, Panama (+101.9%), Jamaica (+11.4%), El Salvador (+10.3%), Honduras (+6.9%), Bahamas (+4.5%) and Antigua and Barbuda (+1.6%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +101.9% from 2012-2022. By contrast, Costa Rica (-6.8%) and Trinidad and Tobago (-7.8%) illustrated a downward trend over the same period. Guatemala (+39 p.p.) and Panama (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Antigua and Barbuda, Bahamas, Trinidad and Tobago and Costa Rica saw its share reduced by -1.6%, -5.2%, -7.4% and -12% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guatemala ($X), Bahamas ($X) and El Salvador ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 47% of total imports. Honduras, Jamaica, Costa Rica, Panama, Antigua and Barbuda and Trinidad and Tobago lagged somewhat behind, together comprising a further 23%.

Panama, with a CAGR of +98.7%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, declining by -8.1% against the previous year. Over the period under review, the import price recorded a pronounced slump. The growth pace was the most rapid in 2016 an increase of 11% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 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 Honduras ($X per ton), while Guatemala ($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 (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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