Latin America and the Caribbean: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in Latin America and the Caribbean

In 2022, the Latin American tomato ketchup market decreased by less than 0.1% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw a slight reduction. The most prominent rate of growth was recorded in 2017 with an increase of 8.6% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tomato Ketchup Production in Latin America and the Caribbean

In value terms, tomato ketchup production stood at $X in 2022 estimated in export price. In general, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2017 with an increase of 7.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tomato Ketchup Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of tomato ketchup and tomato sauces were exported in Latin America and the Caribbean; remaining relatively unchanged against the previous year. The total export volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when exports increased by 27%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tomato ketchup exports rose significantly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +22.9% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica was the main exporting country with an export of around X tons, which amounted to 36% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a 20% share, followed by the Dominican Republic (11%), Mexico (7.5%), Trinidad and Tobago (7%) and Chile (6.2%). Brazil (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Costa Rica (with a CAGR of +8.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tomato ketchup supplying countries in Latin America and the Caribbean were Costa Rica ($X), Guatemala ($X) and the Dominican Republic ($X), with a combined 66% share of total exports.

Among the main exporting countries, Guatemala, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 6.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2015 when the export price increased by 8%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.1%), while the other leaders experienced more modest paces of growth.

Tomato Ketchup Imports

Imports in Latin America and the Caribbean

In 2022, imports of tomato ketchup and tomato sauces in Latin America and the Caribbean rose slightly to X tons, growing by 2.1% against 2021. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.3% against 2012 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 20% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tomato ketchup imports expanded sharply to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.3% against 2017 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Guatemala (X tons), Chile (X tons), Nicaragua (X tons), El Salvador (X tons) and Honduras (X tons) represented the key importers of tomato ketchup and tomato sauces, together making up 63% of total imports. Haiti (X tons), Panama (X tons), Cuba (X tons), Costa Rica (X tons), Colombia (X tons), the Dominican Republic (X tons) and Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of +83.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Guatemala ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, together accounting for 44% of total imports. Nicaragua, El Salvador, Honduras, Panama, Haiti, the Dominican Republic, Cuba, Colombia, Costa Rica and Paraguay lagged somewhat behind, together accounting for a further 41%.

In terms of the main importing countries, Panama, with a CAGR of +77.8%, recorded the highest growth rate of the value of imports, 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, surging by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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