ASEAN: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Exports

Exports in ASEAN

In 2022, overseas shipments of industrial bakery machinery increased by 18% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 44%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, industrial bakery machinery exports stood at $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 61%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia was the main exporter of industrial bakery machinery in ASEAN, with the volume of exports resulting at X units, which was near 51% of total exports in 2022. Malaysia (X units) held the second position in the ranking, distantly followed by Singapore (X units) and the Philippines (X units). All these countries together held near 45% share of total exports. Thailand (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial bakery machinery exports from Indonesia stood at +1.4%. At the same time, the Philippines (+3.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +3.9% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-7.5%) and Thailand (-11.4%) illustrated a downward trend over the same period. Indonesia (+15 p.p.), the Philippines (+4 p.p.) and Singapore (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Malaysia saw its share reduced by -4.7% and -17.6% from 2012 to 2022, respectively.

In value terms, Indonesia ($X), Malaysia ($X) and the Philippines ($X) were the countries with the highest levels of exports in 2022, together comprising 86% of total exports.

The Philippines, with a CAGR of +12.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, reducing by -4.1% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial bakery machinery export price decreased by -16.7% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of 31%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Thailand ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.7%), while the other leaders experienced more modest paces of growth.

Industrial Bakery Machinery Imports

Imports in ASEAN

In 2022, approx. X units of industrial bakery machinery were imported in ASEAN; which is down by -20.8% against the previous year. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 25%. As a result, imports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, industrial bakery machinery imports fell sharply to $X in 2022. In general, imports showed a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units) was the key importer of industrial bakery machinery, constituting 59% of total imports. Malaysia (X units) ranks second in terms of the total imports with a 14% share, followed by Thailand (9.6%) and Vietnam (8.1%). The following importers - the Philippines (X units) and Singapore (X units) - together made up 7.9% of total imports.

Indonesia was also the fastest-growing in terms of the industrial bakery machinery imports, with a CAGR of +4.0% from 2012 to 2022. At the same time, Singapore (+3.0%) displayed positive paces of growth. Thailand, Vietnam and Malaysia experienced a relatively flat trend pattern. By contrast, the Philippines (-1.3%) illustrated a downward trend over the same period. While the share of Indonesia (+9.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-1.8 p.p.), the Philippines (-1.8 p.p.), Vietnam (-2 p.p.) and Malaysia (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial bakery machinery importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Vietnam ($X), with a combined 74% share of total imports. These countries were followed by the Philippines, Thailand and Singapore, which together accounted for a further 24%.

In terms of the main importing countries, the Philippines, with a CAGR of +4.7%, saw the highest growth rate of 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 2022, the import price in ASEAN amounted to $X per unit, shrinking by -17.3% against the previous year. Overall, the import price showed a pronounced setback. The growth pace was the most rapid in 2018 an increase of 24%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform