Updated Jan 21, 2023 11:02

Pyrethrum and Peppermint Market in Guatemala

Market Overview
In , the Guatemalan pyrethrum and peppermint market decreased by -% to $, falling for the third consecutive year after three years of growth. Overall, consumption faced a sharp slump. Pyrethrum and peppermint consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint production reached $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by % against the previous year. Over the period under review, production reached the peak level at $ in 2016; however, from 2017 to , production remained at a lower figure.


Consumption
In , consumption of pyrethrum and peppermint decreased by -% to tons, falling for the third year in a row after three years of growth. Over the period under review, consumption saw a dramatic contraction. Pyrethrum and peppermint consumption peaked at tons in 2019; however, from to , consumption stood at a somewhat lower figure.

The value of the pyrethrum and peppermint market in Guatemala reduced remarkably to $ in , falling by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a precipitous decline. Pyrethrum and peppermint consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by rising demand for pyrethrum and peppermint in Guatemala, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Trade Balance
Guatemala remains a net exporter of pyrethrum and peppermint; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.