Mexico: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Mexico

The Mexican refrigerated show-cases market expanded remarkably to $X in 2022, with an increase of 5.1% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -5.1% 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.

Refrigerated Show-Cases Production in Mexico

In value terms, refrigerated show-cases production stood at $X in 2022 estimated in export price. In general, the total production indicated prominent growth 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, production decreased by -0.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Refrigerated Show-Cases Exports

Exports from Mexico

Refrigerated show-cases exports from Mexico contracted to X units in 2022, waning by -6.3% against 2021. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 40%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, refrigerated show-cases exports declined modestly to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value 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, exports increased by +61.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 63% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

The United States (X units) was the main destination for refrigerated show-cases exports from Mexico, with a 94% share of total exports. It was followed by Guatemala (X units), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +4.7%.

In value terms, the United States ($X) remains the key foreign market for refrigerated show-caseses exports from Mexico, comprising 96% of total exports. The second position in the ranking was held by Guatemala ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +10.0%.

Export Prices by Country

In 2022, the average refrigerated show-cases export price amounted to $X per unit, with an increase of 5.9% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price 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, refrigerated show-cases export price increased by +72.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 32%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Guatemala stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Refrigerated Show-Cases Imports

Imports into Mexico

In 2022, supplies from abroad of refrigerated show-caseses increased by 34% to X units, rising for the second year in a row after four years of decline. Over the period under review, imports, however, showed a perceptible reduction. The growth pace was the most rapid in 2021 when imports increased by 36%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, refrigerated show-cases imports soared to $X in 2022. In general, imports, however, continue to indicate a perceptible curtailment. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest refrigerated show-cases supplier to Mexico, with a 62% share of total imports. Moreover, refrigerated show-cases imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Spain (X units), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.6% per year) and Spain (+11.7% per year).

In value terms, the United States ($X) constituted the largest supplier of refrigerated show-caseses to Mexico, comprising 49% of total imports. The second position in the ranking was taken by China ($X), with a 24% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.9% per year) and Spain (+17.3% per year).

Import Prices by Country

In 2022, the average refrigerated show-cases import price amounted to $X per unit, falling by -6.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 14%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform