Peru: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Peru

The Peruvian food manufacture machinery market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Food Manufacture Machinery Exports

Exports from Peru

In 2021, approx. X units of machinery for the preparation or manufacture of food or drink were exported from Peru; shrinking by -57.7% compared with the previous year. Over the period under review, exports faced a sharp slump. The most prominent rate of growth was recorded in 2016 with an increase of 379% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, food manufacture machinery exports contracted remarkably to $X in 2021. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 845%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Chile (X units), Cuba (X units) and Mexico (X units) were the main destinations of food manufacture machinery exports from Peru, with a combined 83% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of +260.6%), while the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X) emerged as the key foreign market for machinery for the preparation or manufacture of food or drink exports from Peru, comprising 66% of total exports. The second position in the ranking was taken by Chile ($X), with a 15% share of total exports. It was followed by Ecuador, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Mexico totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+49.7% per year) and Ecuador (-32.5% per year).

Export Prices by Country

The average food manufacture machinery export price stood at $X per unit in 2021, increasing by 17% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, food manufacture machinery export price increased by +29.1% against 2018 indices. The growth pace was the most rapid in 2016 when the average export price increased by 97%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per unit), while the average price for exports to Cuba ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Peru

In 2021, after two years of decline, there was significant growth in overseas purchases of machinery for the preparation or manufacture of food or drink, when their volume increased by 71% to X units. Overall, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2018 when imports increased by 140%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, food manufacture machinery imports surged to $X in 2021. In general, imports enjoyed a slight expansion. The growth pace was the most rapid in 2018 with an increase of 87%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest food manufacture machinery supplier to Peru, accounting for a 47% share of total imports. Moreover, food manufacture machinery 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 taken by Colombia (X units), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.1% per year) and Colombia (+20.6% per year).

In value terms, the largest food manufacture machinery suppliers to Peru were the United States ($X), China ($X) and Germany ($X), with a combined 40% share of total imports. These countries were followed by Switzerland, Italy, Colombia, France and Brazil, which together accounted for a further 24%.

In terms of the main suppliers, France, with a CAGR of +51.9%, 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

In 2021, the average food manufacture machinery import price amounted to $X per unit, shrinking by -6.3% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 63%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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