Pastry market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2020, the pastry market in Latin America and the Caribbean experienced shifts in volume, starting at 822 thousand tons. Initial growth was driven by demand for ready-to-eat foods and the expansion of artisanal and pre-cooked products. However, by 2019, market volume dipped to 789 thousand tons as consumer preferences increasingly favored natural and organic ingredients. The COVID-19 pandemic in 2020 altered consumption patterns, boosting demand for at-home products and accelerating digital sales channels, which helped stabilize the market around 779 thousand tons.

The market showed a modest recovery to 784 thousand tons in 2021, supported by the consolidation of e-commerce and a stronger focus on healthy, gluten-free, and vegan options. In 2022, the global cocoa crisis led to record price increases, raising production costs and contributing to a decline in market volume to 757 thousand tons. Despite this, regulatory changes in labeling and the launch of innovative flavor combinations kept market activity alive. By 2023, the market rebounded to 794 thousand tons, fueled by the expansion of the Mexican bakery and pastry segment, increased production of gluten-free and organic products, and a growing presence of high-margin artisanal bakeries.

Production pastry in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of pastry, 2017-2020

World map of production of pastry, 2017-2020

In Latin America and the Caribbean, pastry production reached 938.5 thousand tonnes in 2020, marking a 7.7% increase compared to 2019. Over the period from 2017 to 2020, production grew by 13.8%, which translates to an average annual growth rate of 4.4%. The largest decline occurred in 2019, with a drop of 2.4%, while the most significant increase was recorded in 2018 at 8.2%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Pastry production in Latin America and the Caribbean declined for the second consecutive year in value terms. In 2020, the output was valued at 3 160 million US dollars, down by 3.3% year-over-year. From 2017 to 2020, production increased by 11.8%, equating to an annualized growth rate of 3.8%. The highest value was recorded in 2018 at 3 547 million US dollars. The largest decline occurred in 2019 with a 7.9% decrease, while the most substantial increase was in 2018 at 25.5%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports pastry from Latin America and the Caribbean

Exports in kind, K t

Pastry export volumes from Latin America and the Caribbean increased for the second consecutive year. In 2020, the region exported 340.3 thousand tonnes of pastry, which is 16.4% higher than the previous year. Between 2017 and 2020, exports grew by 10.2%, with an average annual growth rate of 3.3%. The lowest volume was recorded in 2018 at 270.4 thousand tonnes, which also saw the largest decline of 12.4%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States and Canada consistently held the top positions in the export structure by volume, jointly accounting for 49.0% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Cross-border shipments of pastry from Latin America and the Caribbean increased for the third consecutive year in value terms. In 2020, exports totaled 1 146 million US dollars, representing a 4.5% gain from the previous year. Over the period from 2017 to 2020, exports rose by 8.3%, with a compound annual growth rate of 2.7%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

During 2017–2020, the United States and Canada were the two main destinations for pastry exports in value terms. The United States accounted for 58.6% of total flows, while Canada contributed 1.9%, jointly making up 60.4% of total exports.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports pastry to Latin America and the Caribbean

Imports in kind, K t

After a two-year rise, pastry import volumes into Latin America and the Caribbean declined. In 2020, imports amounted to 180.6 thousand tonnes, indicating a decrease of 14.1% compared to 2019. Over the period from 2017 to 2020, imports increased by 2.6%, with a compound annual growth rate of 0.8%. The highest volume was recorded in 2019 at 210.2 thousand tonnes, while the largest increase occurred in 2018 at 13.6%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

The country composition of pastry imports by volume from 2017 to 2020 was dispersed. The United States, Spain, and Turkey together accounted for 32.5% of total flows, with the United States at 27.1%, Spain at 4.4%, and Turkey at 1.0%. The remaining 67.5% was distributed among a wide range of other countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

After a two-year rise, cross-border shipments of pastry into Latin America and the Caribbean declined in value terms. In 2020, the region imported 829 million US dollars of pastry, reflecting an 8.7% decrease compared to the previous year. The highest value was recorded in 2019 at 908 million US dollars, while the largest increase occurred in 2018 at 6.7%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the partner structure for pastry imports in value terms was balanced rather than concentrated. The United States, Spain, and Belgium jointly represented 42.0% of total flows, with the United States at 36.0%, Spain at 4.2%, and Belgium at 1.8%. Many other countries accounted for the remaining 58.0%.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020