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

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

In 2021, the GCC rusks and toasted bread market decreased by -7.7% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption, however, enjoyed a prominent increase. The level of consumption peaked at $X in 2020, and then contracted in the following year.

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

In value terms, rusks and toasted bread production declined to $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 61%. The level of production peaked at $X in 2020, and then fell in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports in GCC

In 2021, the amount of rusks, toasted bread and similar toasted products exported in GCC was estimated at X tons, growing by 2.6% compared with 2020. Over the period under review, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 43% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, rusks and toasted bread exports expanded slightly to $X in 2021. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 33% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia dominates exports structure, accounting for X tons, which was approx. 89% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 7% share of total exports. Kuwait (X tons) took a little share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +11.4% from 2012 to 2021. At the same time, Kuwait (+17.1%) and the United Arab Emirates (+8.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +17.1% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates decreased by -1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest rusks and toasted bread supplier in GCC, comprising 88% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.3% share of total exports.

In Saudi Arabia, rusks and toasted bread exports increased at an average annual rate of +8.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+17.6% per year) and Kuwait (+17.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, stabilizing at the previous year. Overall, the export price recorded a slight decrease. The most prominent rate of growth was recorded in 2015 when the export price increased by 16%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports in GCC

Rusks and toasted bread imports reached X tons in 2021, approximately equating the previous year's figure. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 100% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, rusks and toasted bread imports reached $X in 2021. Overall, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 78% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

The United Arab Emirates represented the key importer of rusks, toasted bread and similar toasted products in GCC, with the volume of imports reaching X tons, which was approx. 55% of total imports in 2021. Saudi Arabia (X tons) ranks second in terms of the total imports with an 18% share, followed by Kuwait (17%) and Oman (7.8%).

The United Arab Emirates was also the fastest-growing in terms of the rusks, toasted bread and similar toasted products imports, with a CAGR of +30.7% from 2012 to 2021. At the same time, Oman (+24.8%), Kuwait (+10.4%) and Saudi Arabia (+6.1%) displayed positive paces of growth. While the share of the United Arab Emirates (+35 p.p.) and Oman (+3.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-10.8 p.p.) and Saudi Arabia (-24.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rusks, toasted bread and similar toasted products in GCC, comprising 46% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 22% share of total imports. It was followed by Saudi Arabia, with a 17% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +23.2%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+8.9% per year) and Saudi Arabia (+10.2% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, remaining constant against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform