Latin America and the Caribbean: Temporarily Preserved Vegetable Market 2024

Temporarily Preserved Vegetable Market Size in Latin America and the Caribbean

For the eighth year in a row, the Latin American temporarily preserved vegetable market recorded growth in sales value, which increased by 6.3% to $X in 2022. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +99.1% against 2012 indices. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the immediate term.

Temporarily Preserved Vegetable Production in Latin America and the Caribbean

In value terms, temporarily preserved vegetable production amounted to $X in 2022 estimated in export price. In general, production showed resilient growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 35%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Temporarily Preserved Vegetable Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of vegetables (temporarily preserved) decreased by -8.9% to X tons, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2019 with an increase of 25% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, temporarily preserved vegetable exports dropped slightly to $X in 2022. Over the period under review, exports saw a pronounced decline. The most prominent rate of growth was recorded in 2019 with an increase of 33%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Peru dominates exports structure, accounting for X tons, which was near 73% of total exports in 2022. Mexico (X tons) ranks second in terms of the total exports with a 7.9% share, followed by Costa Rica (7.6%) and the Dominican Republic (6.7%). Brazil (X tons) followed a long way behind the leaders.

Exports from Peru increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, Costa Rica (+24.7%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +24.7% from 2012-2022. By contrast, Brazil (-1.5%), the Dominican Republic (-7.7%) and Mexico (-15.4%) illustrated a downward trend over the same period. Peru (+37 p.p.) and Costa Rica (+7 p.p.) significantly strengthened its position in terms of the total exports, while the Dominican Republic and Mexico saw its share reduced by -3.5% and -20.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest temporarily preserved vegetable supplier in Latin America and the Caribbean, comprising 63% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 13% share of total exports. It was followed by Brazil, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value in Peru stood at +3.2%. In the other countries, the average annual rates were as follows: Costa Rica (+29.7% per year) and Brazil (-3.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 6.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by 23%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

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 Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+6.0%), while the other leaders experienced more modest paces of growth.

Temporarily Preserved Vegetable Imports

Imports in Latin America and the Caribbean

In 2022, after three years of decline, there was growth in overseas purchases of vegetables (temporarily preserved), when their volume increased by 1.6% to X tons. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 21% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, temporarily preserved vegetable imports soared to $X in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Chile (X tons) and Brazil (X tons) prevails in imports structure, together making up 86% of total imports. Venezuela (X tons), Mexico (X tons) and Colombia (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Mexico (with a CAGR of +11.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Chile ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 86% share of total imports.

In terms of the main importing countries, Mexico, with a CAGR of +11.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 13% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Chile ($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 (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :