Uruguay: Canned Food Market 2024

Canned Food Market Size in Uruguay

The Uruguayan canned food market stood at $X in 2021, remaining relatively unchanged against the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.8% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Canned Food Production in Uruguay

In value terms, canned food production rose slightly to $X in 2021 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 96% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Canned Food Exports

Exports from Uruguay

In 2021, the amount of canned food exported from Uruguay rose sharply to X tons, surging by 15% against 2020 figures. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 23%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, canned food exports skyrocketed to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +50.4% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for canned food exports from Uruguay, accounting for a 86% share of total exports. Moreover, canned food exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2020, the average annual growth rate of volume to the United States stood at +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-1.5% per year) and South Korea (+29.0% per year).

In value terms, the United States ($X) remains the key foreign market for canned food exports from Uruguay, comprising 90% of total exports. The second position in the ranking was held by Japan ($X), with a 2.9% share of total exports. It was followed by South Korea, with a 2.6% share.

From 2012 to 2020, the average annual rate of growth in terms of value to the United States amounted to +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+96.0% per year) and South Korea (+41.6% per year).

Export Prices by Country

In 2020, the average canned food export price amounted to $X per ton, with a decrease of -20.4% against the previous year. Overall, the export price continues to indicate a pronounced setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2020, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Japan ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.8%), while the prices for the other major destinations experienced a decline.

Canned Food Imports

Imports into Uruguay

In 2021, the amount of canned food imported into Uruguay rose slightly to X tons, increasing by 2.9% on 2020. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, canned food imports expanded rapidly to $X in 2021. In general, imports, however, saw a slight decline. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Argentina (X tons) and Italy (X tons) were the main suppliers of canned food imports to Uruguay, together accounting for 82% of total imports. These countries were followed by China, the Netherlands, Spain, Russia and Thailand, which together accounted for a further 19%.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +142.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and the Netherlands ($X) appeared to be the largest canned food suppliers to Uruguay, with a combined 84% share of total imports. These countries were followed by Spain, Italy, China, Russia and Thailand, which together accounted for a further 17%.

Among the main suppliers, Russia, with a CAGR of +160.0%, 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 2020, the average canned food import price amounted to $X per ton, shrinking by -2.4% against the previous year. In general, the import price continues to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2015 when the average import price increased by 4.1% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2020, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Argentina ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Russia (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :