Peru: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Peru

In 2021, the Peruvian prepared dish and meal market was finally on the rise to reach $X after four years of decline. The market value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Prepared Dishes And Meals

Exports from Peru

In 2021, after three years of growth, there was significant decline in overseas shipments of prepared dishes and meals, when their volume decreased by -7.7% to X tons. Over the period under review, exports, however, recorded strong growth. The growth pace was the most rapid in 2019 when exports increased by 69%. The exports peaked at X tons in 2020, and then shrank in the following year.

In value terms, prepared dish and meal exports rose notably to $X in 2021. Overall, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by 51% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Ecuador (X tons) and Colombia (X tons) were the main destinations of prepared dish and meal exports from Peru, with a combined 79% share of total exports. These countries were followed by Chile, Bolivia, Germany, Panama, Guatemala and Venezuela, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +37.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared dish and meal exported from Peru were Colombia ($X), Ecuador ($X) and the United States ($X), with a combined 72% share of total exports. Germany, Chile, Bolivia, Guatemala, Panama and Venezuela lagged somewhat behind, together comprising a further 19%.

Germany, with a CAGR of +38.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared dish and meal export price stood at $X per ton in 2021, with an increase of 16% against the previous year. Overall, the export price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+23.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Prepared Dishes And Meals

Imports into Peru

In 2021, approx. X tons of prepared dishes and meals were imported into Peru; rising by 26% against the year before. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.2% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal imports skyrocketed to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.4% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest prepared dish and meal supplier to Peru, accounting for a 24% share of total imports. Moreover, prepared dish and meal imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by Brazil (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+13.8% per year) and Brazil (-2.5% per year).

In value terms, the United States ($X), Spain ($X) and Costa Rica ($X) appeared to be the largest prepared dish and meal suppliers to Peru, together comprising 41% of total imports. Mexico, the Netherlands, Colombia, Free Zones, Malaysia, Singapore, Germany, Brazil, Belgium and Italy lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Malaysia, with a CAGR of +38.8%, saw the highest rates of growth with regard to 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 average prepared dish and meal import price stood at $X per ton in 2021, remaining stable against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 8.1% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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