Mexico: Vegetable Puree Market 2024

Vegetable Puree Market Size in Mexico

The Mexican vegetable puree market was estimated at $X in 2022, approximately mirroring the previous year. Overall, consumption, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with a decrease of -3.3%. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Vegetable Puree Production in Mexico

In value terms, vegetable puree production skyrocketed to $X in 2022 estimated in export price. In general, production saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 124%. Vegetable puree production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vegetable Puree Exports

Exports from Mexico

In 2022, the amount of vegetable puree exported from Mexico was estimated at X tons, standing approx. at 2021 figures. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 143%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vegetable puree exports totaled $X in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 147%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Spain (X tons) and the Dominican Republic (X tons) were the main destinations of vegetable puree exports from Mexico, together comprising 65% of total exports. Costa Rica, El Salvador and Honduras lagged somewhat behind, together comprising a further 5.1%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +84.6%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by the Dominican Republic, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-20.6% per year) and the Dominican Republic (+9.6% per year).

Export Prices by Country

The average vegetable puree export price stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price posted a resilient expansion. The pace of growth was the most pronounced in 2013 an increase of 10%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady 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 ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Puree Imports

Imports into Mexico

In 2016, the amount of vegetable puree imported into Mexico shrank dramatically to X tons, falling by -30.1% on 2015. Over the period under review, imports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2014 with an increase of 21%. Imports peaked at X tons in 2015, and then reduced sharply in the following year.

In value terms, vegetable puree imports dropped remarkably to $X in 2016. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 75% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2016, the growth of imports failed to regain momentum.

Imports by Country

In 2016, the United States (X kg) constituted the largest supplier of vegetable puree to Mexico, accounting for a 49% share of total imports. Moreover, vegetable puree imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X kg), twofold. Italy (X kg) ranked third in terms of total imports with a 22% share.

From 2012 to 2016, the average annual rate of growth in terms of volume from the United States amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-16.1% per year) and Italy (+56.3% per year).

In value terms, Italy ($X), Spain ($X) and the United States ($X) were the largest vegetable puree suppliers to Mexico, together comprising 92% of total imports.

Among the main suppliers, Italy, with a CAGR of +30.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average vegetable puree import price stood at $X per ton in 2016, waning by -3.9% against the previous year. In general, the import price saw a noticeable reduction. The growth pace was the most rapid in 2013 an increase of 65%. As a result, import price reached the peak level of $X per ton. From 2014 to 2016, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2016, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by Spain (+8.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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