Latin America and the Caribbean: Sausage Market 2024

Sausage Market Size in Latin America and the Caribbean

For the fifth year in a row, the Latin American sausage market recorded growth in sales value, which increased by 3.6% to $X in 2021. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Sausage Production in Latin America and the Caribbean

In value terms, sausage production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 10% against the previous year. Over the period under review, production attained the peak level in 2021 and is likely to see gradual growth in the near future.

Sausage Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of sausages and similar products of meat increased by 22% to X tons, rising for the fifth year in a row after two years of decline. The total export volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sausage exports soared to $X in 2021. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil dominates exports structure, amounting to X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Guatemala (X tons), generating a 6.4% share of total exports. The following exporters - Costa Rica (X tons) and Mexico (X tons) - together made up 4.6% of total exports.

Brazil was also the fastest-growing in terms of the sausages and similar products of meat exports, with a CAGR of +6.3% from 2012 to 2021. At the same time, Guatemala (+4.7%) displayed positive paces of growth. By contrast, Costa Rica (-3.2%) and Mexico (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest sausage supplier in Latin America and the Caribbean, comprising 75% of total exports. The second position in the ranking was held by Guatemala ($X), with a 12% share of total exports. It was followed by Costa Rica, with a 5.1% share.

In Brazil, sausage exports increased at an average annual rate of +2.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Guatemala (+4.8% per year) and Costa Rica (-2.2% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, growing by 6.8% against the previous year. Overall, the export price, however, showed a perceptible descent. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while Brazil ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Sausage Imports

Imports in Latin America and the Caribbean

In 2021, the amount of sausages and similar products of meat imported in Latin America and the Caribbean soared to X tons, growing by 20% on 2020 figures. The total import volume increased at an average annual rate of +6.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, sausage imports surged to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.1% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) and Venezuela (X tons) represented the largest importers of sausages and similar products of meat in Latin America and the Caribbean, together comprising 51% of total imports. It was distantly followed by El Salvador (X tons), Cuba (X tons) and Nicaragua (X tons), together mixing up a 16% share of total imports. Guatemala (X tons), Haiti (X tons), Honduras (X tons), Belize (X tons), Panama (X tons), Guyana (X tons), Cayman Islands (X tons) and Paraguay (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of +121.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported sausages and similar products of meat in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was taken by Venezuela ($X), with a 12% share of total imports. It was followed by El Salvador, with a 6% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +7.5%. The remaining importing countries recorded the following average annual rates of imports growth: Venezuela (+29.9% per year) and El Salvador (+7.3% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 6.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 an increase of 26%. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Panama ($X per ton), while Belize ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belize (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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