Latin America and the Caribbean: Canned Food Market 2024

Canned Food Market Size in Latin America and the Caribbean

The Latin American canned food market stood at $X in 2021, picking up by 2.8% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Canned Food Production in Latin America and the Caribbean

In value terms, canned food production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 with an increase of 15%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Canned Food Exports

Exports in Latin America and the Caribbean

In 2021, canned food exports in Latin America and the Caribbean was estimated at X tons, picking up by 2.2% on 2020 figures. In general, exports, however, continue to indicate a slight downturn. The pace of growth was the most pronounced in 2020 with an increase of 2.8%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, canned food exports rose modestly to $X in 2021. Overall, exports, however, continue to indicate a mild downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of canned food, namely Brazil, Mexico and Peru, represented more than two-thirds of total export. Argentina (X tons) ranks next in terms of the total exports with a 7% share, followed by Guatemala (6.9%) and Chile (4.8%). El Salvador (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by El Salvador (with a CAGR of +12.5%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest canned food supplier in Latin America and the Caribbean, comprising 40% of total exports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total exports. It was followed by Peru, with a 17% share.

From 2012 to 2021, the average annual growth rate of value in Brazil stood at -2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (-2.2% per year) and Peru (+0.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 2.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 4.4%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.3%), while the other leaders experienced mixed trends in the export price figures.

Canned Food Imports

Imports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in purchases abroad of canned food, which increased by 7% to X tons in 2021. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 9.3%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, canned food imports expanded sharply to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons), Mexico (X tons) and Chile (X tons) represented the main importer of canned food in Latin America and the Caribbean, generating 38% of total import. Guatemala (X tons) ranks next in terms of the total imports with a 5.8% share, followed by Colombia (5.5%), Panama (5.5%) and the Dominican Republic (4.5%). El Salvador (X tons), Costa Rica (X tons), Honduras (X tons), Argentina (X tons), Uruguay (X tons) and Jamaica (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported canned food in Latin America and the Caribbean, comprising 18% of total imports. The second position in the ranking was held by Chile ($X), with a 7.5% share of total imports. It was followed by Panama, with a 7.5% share.

In Mexico, canned food imports contracted by an average annual rate of -2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+5.6% per year) and Panama (+39.8% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 3.7% against the previous year. In general, the import price, however, showed a slight slump. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while Brazil ($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 (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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