Latin America and the Caribbean: Market for Vegetables (Preserved, Frozen) 2025

Market Size for Vegetables (Preserved, Frozen) in Latin America and the Caribbean

In 2022, the Latin American preserved and frozen vegetable market increased by 18% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +49.8% against 2020 indices. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Vegetables (Preserved, Frozen) in Latin America and the Caribbean

In value terms, preserved and frozen vegetable production fell slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 14%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Vegetables (Preserved, Frozen)

Exports in Latin America and the Caribbean

In 2022, after two years of decline, there was significant growth in overseas shipments of vegetables (preserved, frozen), when their volume increased by 13% to X tons. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 68%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, preserved and frozen vegetable exports skyrocketed to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 105%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Argentina dominates exports structure, recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Mexico (X tons), achieving a 6.9% share of total exports. Brazil (X tons) took a minor share of total exports.

Exports from Argentina increased at an average annual rate of +6.0% from 2012 to 2022. At the same time, Brazil (+66.8%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +66.8% from 2012-2022. By contrast, Mexico (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina and Brazil increased by +7.1 and +3.2 percentage points, respectively.

In value terms, Argentina ($X) remains the largest preserved and frozen vegetable supplier in Latin America and the Caribbean, comprising 76% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports.

In Argentina, preserved and frozen vegetable exports increased at an average annual rate of +5.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mexico (+5.4% per year) and Brazil (+50.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 33% against the previous year. Overall, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Mexico ($X per ton), while Brazil ($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 (+9.5%), while the other leaders experienced a decline in the export price figures.

Imports of Vegetables (Preserved, Frozen)

Imports in Latin America and the Caribbean

In 2022, approx. X tons of vegetables (preserved, frozen) were imported in Latin America and the Caribbean; picking up by 2.8% on 2021. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +26.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 23%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, preserved and frozen vegetable imports surged to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +58.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Chile (X tons) and Colombia (X tons) represented the key importers of vegetables (preserved, frozen), together making up 66% of total imports. Peru (X tons), Guatemala (X tons), the Dominican Republic (X tons), Costa Rica (X tons), Uruguay (X tons), Honduras (X tons), Panama (X tons) and Jamaica (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +91.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Mexico ($X) and Chile ($X) were the countries with the highest levels of imports in 2022, together accounting for 61% of total imports. Colombia, Guatemala, Peru, the Dominican Republic, Costa Rica, Panama, Uruguay, Honduras and Jamaica lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, Panama, with a CAGR of +89.2%, 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, increasing by 23% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jamaica (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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