ASEAN: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in ASEAN

In 2021, the ASEAN rusks and toasted bread market decreased by -14.1% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +41.6% against 2018 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in ASEAN

In value terms, rusks and toasted bread production dropped remarkably to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +40.2% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. As a result, production reached the peak level of $X, and then contracted sharply in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports in ASEAN

After two years of growth, shipments abroad of rusks, toasted bread and similar toasted products decreased by -34.1% to X tons in 2021. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 64%. The volume of export peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, rusks and toasted bread exports fell notably to $X in 2021. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 57% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of rusks, toasted bread and similar toasted products, namely Vietnam, Thailand and Malaysia, represented more than two-thirds of total export. It was distantly followed by Indonesia (X tons), creating a 4.6% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +37.6%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest rusks and toasted bread supplier in ASEAN, comprising 48% of total exports. The second position in the ranking was taken by Thailand ($X), with a 23% share of total exports. It was followed by Malaysia, with a 19% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam stood at +14.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+29.3% per year) and Malaysia (+4.5% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 2.2% against the previous year. Overall, the export price, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 when the export price increased by 10% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports in ASEAN

In 2021, the amount of rusks, toasted bread and similar toasted products imported in ASEAN dropped significantly to X tons, which is down by -15.3% compared with 2020 figures. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 72%. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced markedly in the following year.

In value terms, rusks and toasted bread imports declined to $X in 2021. In general, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 62%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Philippines (X tons) and Malaysia (X tons) were the major importers of rusks, toasted bread and similar toasted products in ASEAN, together making up 57% of total imports. Indonesia (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (9.1%), Myanmar (6.9%) and Lao People's Democratic Republic (5.2%). Singapore (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +41.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. The Philippines, Myanmar, Singapore and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 40%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +36.2%, recorded 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 2021, the import price in ASEAN amounted to $X per ton, growing by 16% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform