GCC: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in GCC

The GCC market for crispbread, rusks and toasted bread expanded significantly to $X in 2022, with an increase of 12% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +110.3% against 2016 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Crispbread, Rusks and Toasted Bread in GCC

In value terms, crispbread, rusk and toasted bread production rose to $X in 2022 estimated in export price. In general, production showed notable growth. The pace of growth was the most pronounced in 2017 with an increase of 50%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Crispbread, Rusks and Toasted Bread

Exports in GCC

In 2022, shipments abroad of crispbread, rusks and toasted bread decreased by -52.3% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 258% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, crispbread, rusk and toasted bread exports fell remarkably to $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by 180%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the key exporter of crispbread, rusks and toasted bread, comprising 84% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up an 11% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to crispbread, rusk and toasted bread exports from Saudi Arabia stood at +8.9%. At the same time, Kuwait (+15.1%) and the United Arab Emirates (+13.8%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +15.1% from 2012-2022. While the share of the United Arab Emirates (+3.4 p.p.) and Kuwait (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-4.5 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest crispbread, rusk and toasted bread supplier in GCC, comprising 85% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia stood at +7.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+17.6% per year) and Kuwait (+14.8% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, increasing by 19% against the previous year. Overall, the export price, however, continues to indicate a mild descent. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Crispbread, Rusks and Toasted Bread

Imports in GCC

In 2022, purchases abroad of crispbread, rusks and toasted bread decreased by -18.7% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, crispbread, rusk and toasted bread imports declined significantly to $X in 2022. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 70%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the key importing country with an import of around X tons, which accounted for 66% of total imports. Kuwait (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Oman (8.5%). The following importers - Qatar (X tons) and Bahrain (X tons) - each resulted at a 3.9% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the crispbread, rusks and toasted bread imports, with a CAGR of +26.2% from 2012 to 2022. At the same time, Oman (+19.8%), Kuwait (+9.4%) and Qatar (+8.6%) displayed positive paces of growth. By contrast, Bahrain (-1.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by +46 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 95% of total imports.

In terms of the main importing countries, Oman, with a CAGR of +21.0%, 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

The import price in GCC stood at $X per ton in 2022, rising by 2.2% against the previous year. Overall, the import price, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2014 an increase of 30%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform