Bangladesh: Gingerbread Market 2024

Gingerbread Market Size in Bangladesh

The Bangladeshi gingerbread market reduced to $X in 2022, shrinking by -2% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Gingerbread Production in Bangladesh

In value terms, gingerbread production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -7.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 61% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Gingerbread Exports

Exports from Bangladesh

In 2022, after two years of decline, there was significant growth in shipments abroad of gingerbread, when their volume increased by 41% to X tons. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 374% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, gingerbread exports surged to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 423%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for gingerbread exports from Bangladesh, accounting for a 55% share of total exports. Moreover, gingerbread exports to Malaysia exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was taken by Oman (X tons), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia amounted to +57.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and Oman (+19.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for gingerbread exports from Bangladesh, comprising 67% of total exports. The second position in the ranking was taken by India ($X), with a 9.7% share of total exports. It was followed by the UK, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled +55.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (0.0% per year) and the UK (+34.1% per year).

Export Prices by Country

The average gingerbread export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 61% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+16.4%), while the prices for the other major destinations experienced a decline.

Gingerbread Imports

Imports into Bangladesh

In 2022, purchases abroad of gingerbread decreased by -8.1% to X kg, falling for the third year in a row after three years of growth. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 202% against the previous year. Over the period under review, imports hit record highs at X kg in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, gingerbread imports rose markedly to $X in 2022. In general, imports, however, posted strong growth. The pace of growth was the most pronounced in 2019 with an increase of 439% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X kg) constituted the largest supplier of gingerbread to Bangladesh, with a 89% share of total imports. Moreover, gingerbread imports from Myanmar exceeded the figures recorded by the second-largest supplier, Singapore (X kg), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar amounted to -6.4%.

In value terms, Singapore ($X) constituted the largest supplier of gingerbread to Bangladesh, comprising 82% of total imports. The second position in the ranking was held by Myanmar ($X), with a 15% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore stood at +71.6%.

Import Prices by Country

The average gingerbread import price stood at $X per ton in 2022, increasing by 15% against the previous year. Overall, the import price posted a buoyant expansion. The growth pace was the most rapid in 2019 when the average import price increased by 119% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Myanmar totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+37.0%).

Source: IndexBox Platform

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