Peru: Canned Food Market 2024

Canned Food Market Size in Peru

The Peruvian canned food market shrank to $X in 2021, reducing by -6.1% against the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.2% against 2014 indices. Canned food consumption peaked at $X in 2020, and then dropped in the following year.

Canned Food Production in Peru

In value terms, canned food production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 15%. Canned food production peaked at $X in 2020, and then fell slightly in the following year.

Canned Food Exports

Exports from Peru

In 2021, overseas shipments of canned food increased by 1.6% to X tons, rising for the fourth consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 13% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, canned food exports expanded slightly to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 11%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Vietnam (X tons) was the main destination for canned food exports from Peru, with a 90% share of total exports. Moreover, canned food exports to Vietnam exceeded the volume sent to the second major destination, Myanmar (X tons), more than tenfold.

From 2012 to 2020, the average annual growth rate of volume to Vietnam stood at +405.7%.

In value terms, Vietnam ($X) emerged as the key foreign market for canned food exports from Peru, comprising 91% of total exports. The second position in the ranking was taken by Myanmar ($X), with an 8.2% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of value to Vietnam stood at +403.5%.

Export Prices by Country

In 2020, the average canned food export price amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price, however, recorded a slight descent. The growth pace was the most rapid in 2013 when the average export price increased by 5.5%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2020, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Myanmar ($X per ton), while the average price for exports to Vietnam totaled $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Canned Food Imports

Imports into Peru

In 2021, supplies from abroad of canned food decreased by -11.9% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 22%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, canned food imports reduced sharply to $X in 2021. Over the period under review, imports continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2020, Argentina (X tons) constituted the largest canned food supplier to Peru, with a 21% share of total imports. Moreover, canned food imports from Argentina exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.3% share.

From 2012 to 2020, the average annual growth rate of volume from Argentina amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.3% per year) and the Netherlands (+7.4% per year).

In value terms, the largest canned food suppliers to Peru were the Netherlands ($X), Argentina ($X) and Ireland ($X), with a combined 35% share of total imports. These countries were followed by the United States, Spain, Bolivia, Mexico, China and Indonesia, which together accounted for a further 23%.

The United States, with a CAGR of +8.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, surging by 3.8% against the previous year. Overall, the import price, however, saw a slight contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 7.3%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2020, import prices failed to regain momentum.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Indonesia (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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