Mexico: Canned Food Market 2024

Canned Food Market Size in Mexico

The Mexican canned food market stood at $X in 2021, surging by 3.4% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.6% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Canned Food Production in Mexico

In value terms, canned food production reached $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 42% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Canned Food Exports

Exports from Mexico

In 2021, the amount of canned food exported from Mexico stood at X tons, remaining relatively unchanged against 2020 figures. Over the period under review, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 70% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, canned food exports dropped sharply to $X in 2021. Overall, exports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 43%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for canned food exports from Mexico, with a 52% share of total exports. Moreover, canned food exports to the United States exceeded the volume sent to the second major destination, Honduras (X tons), more than tenfold. Guatemala (X tons) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2020, the average annual growth rate of volume to the United States totaled -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+3.3% per year) and Guatemala (-6.1% per year).

In value terms, the United States ($X) remains the key foreign market for canned food exports from Mexico, comprising 42% of total exports. The second position in the ranking was held by Honduras ($X), with a 3.2% share of total exports. It was followed by Colombia, with a 2.1% share.

From 2012 to 2020, the average annual growth rate of value to the United States totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+1.6% per year) and Colombia (-8.7% per year).

Export Prices by Country

In 2020, the average canned food export price amounted to $X per ton, falling by -7.5% against the previous year. Over the last eight-year period, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2020, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Peru ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Canned Food Imports

Imports into Mexico

In 2021, imports of canned food into Mexico soared to X tons, increasing by 40% on 2020 figures. Overall, imports, however, continue to indicate a noticeable slump. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, canned food imports soared to $X in 2021. In general, imports, however, showed a noticeable curtailment. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2020, the United States (X tons) constituted the largest supplier of canned food to Mexico, accounting for a 86% share of total imports. Moreover, canned food imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was held by Thailand (X tons), with a 12% share.

From 2012 to 2020, the average annual rate of growth in terms of volume from the United States stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-0.1% per year) and Thailand (-6.9% per year).

In value terms, the United States ($X) constituted the largest supplier of canned food to Mexico, comprising 107% of total imports. The second position in the ranking was taken by Spain ($X), with an 8.8% share of total imports. It was followed by the Netherlands, with a 6.2% share.

From 2012 to 2020, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-1.9% per year) and the Netherlands (-7.6% per year).

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, remaining constant against the previous year. Over the last eight years, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2014 an increase of 11% against the previous year. Over the period under review, average import prices hit record highs in 2020 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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