Latin America and the Caribbean: Pasta And Couscous Market 2024

Pasta And Couscous Market Size in Latin America and the Caribbean

The Latin American pasta and couscous market reached $X in 2022, increasing by 2.3% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pasta And Couscous Production in Latin America and the Caribbean

In value terms, pasta and couscous production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Pasta And Couscous Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of stuffed pasta and couscous increased by 25% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 34% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, pasta and couscous exports skyrocketed to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 30% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

The shipments of the three major exporters of stuffed pasta and couscous, namely Brazil, Mexico and Guatemala, represented more than two-thirds of total export. Bolivia (X tons) held the next position in the ranking, followed by Argentina (X tons). All these countries together held approx. 13% share of total exports. The following exporters - Costa Rica (X tons) and Chile (X tons) - together made up 4.5% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Brazil (with a CAGR of +14.4%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the largest pasta and couscous supplier in Latin America and the Caribbean, comprising 37% of total exports. The second position in the ranking was held by Guatemala ($X), with an 18% share of total exports. It was followed by Bolivia, with a 13% share.

In Brazil, pasta and couscous exports expanded at an average annual rate of +13.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+10.3% per year) and Bolivia (+5.2% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 an increase of 8.7%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.4%), while the other leaders experienced mixed trends in the export price figures.

Pasta And Couscous Imports

Imports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded growth in overseas purchases of stuffed pasta and couscous, which increased by 6.9% to X tons in 2022. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 31% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, pasta and couscous imports expanded remarkably to $X in 2022. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Chile (X tons), distantly followed by Mexico (X tons), Brazil (X tons), Venezuela (X tons), Panama (X tons), Colombia (X tons) and Bahamas (X tons) were the key importers of stuffed pasta and couscous, together comprising 58% of total imports. Belize (X tons), Argentina (X tons), Honduras (X tons), Uruguay (X tons), Trinidad and Tobago (X tons) and Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pasta and couscous imports into Chile stood at +10.2%. At the same time, Panama (+69.5%), Argentina (+17.0%), Honduras (+14.8%), Venezuela (+13.2%), Paraguay (+12.2%), Uruguay (+10.6%), Mexico (+8.6%), Belize (+7.0%), Colombia (+6.9%), Trinidad and Tobago (+6.6%) and Brazil (+2.1%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +69.5% from 2012-2022. Bahamas experienced a relatively flat trend pattern. From 2012 to 2022, the share of Panama, Chile, Venezuela, Argentina and Honduras increased by +5.3, +4, +2.4, +2.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pasta and couscous importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Brazil ($X), with a combined 47% share of total imports. Panama, Colombia, Argentina, Bahamas, Uruguay, Trinidad and Tobago, Paraguay, Venezuela, Honduras and Belize lagged somewhat behind, together accounting for a further 35%.

Panama, with a CAGR of +78.4%, saw the highest rates of growth with regard to 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 5.7% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 8.7% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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