Latin America and the Caribbean: Market for Frozen Fruits And Vegetables 2024

Market Size for Frozen Fruits And Vegetables in Latin America and the Caribbean

The Latin American frozen fruits and vegetables market rose significantly to $X in 2022, growing by X% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Frozen Fruits And Vegetables in Latin America and the Caribbean

In value terms, frozen fruits and vegetables production amounted to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Frozen Fruits And Vegetables

Exports in Latin America and the Caribbean

For the fifth year in a row, LatAmerica and the Caribbean recorded growth in overseas shipments of frozen fruits and vegetables, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, frozen fruits and vegetables exports expanded sharply to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Mexico was the key exporter of frozen fruits and vegetables in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Argentina (X tons) ranks second in terms of the total exports with a X% share, followed by Chile (X%), Peru (X%), Ecuador (X%) and Guatemala (X%). Costa Rica (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen fruits and vegetables exports from Mexico stood at X%. At the same time, Guatemala (X%), Peru (X%), Costa Rica (X%), Ecuador (X%), Argentina (X%) and Chile (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Peru, Guatemala and Argentina increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Chile ($X) and Peru ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Argentina, Ecuador, Guatemala and Costa Rica lagged somewhat behind, together comprising a further X%.

Guatemala, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Fruits And Vegetables

Imports in Latin America and the Caribbean

In 2022, the amount of frozen fruits and vegetables imported in Latin America and the Caribbean fell to X tons, approximately equating the previous year's figure. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, frozen fruits and vegetables imports soared to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons), distantly followed by Mexico (X tons), Chile (X tons) and Colombia (X tons) represented the largest importers of frozen fruits and vegetables, together comprising X% of total imports. Guatemala (X tons), the Dominican Republic (X tons), Uruguay (X tons), Costa Rica (X tons), Panama (X tons), Peru (X tons), Honduras (X tons) and Jamaica (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fruits and vegetables importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Chile ($X), together comprising X% of total imports. Colombia, Guatemala, the Dominican Republic, Costa Rica, Panama, Uruguay, Peru, Jamaica and Honduras lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guatemala ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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