Latin America and the Caribbean: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Latin America and the Caribbean

The Latin American market for crispbread, rusks and toasted bread was estimated at $X in 2022, growing by 2% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Crispbread, Rusks and Toasted Bread in Latin America and the Caribbean

In value terms, crispbread, rusk and toasted bread production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 26% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Crispbread, Rusks and Toasted Bread

Exports in Latin America and the Caribbean

In 2022, shipments abroad of crispbread, rusks and toasted bread increased by 2.1% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, crispbread, rusk and toasted bread exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 12%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Mexico represented the main exporting country with an export of about X tons, which resulted at 44% of total exports. It was distantly followed by Brazil (X tons), Honduras (X tons), Guatemala (X tons) and Colombia (X tons), together making up a 51% share of total exports. Argentina (X tons) held a minor share of total exports.

Exports from Mexico increased at an average annual rate of +1.4% from 2012 to 2022. At the same time, Honduras (+17.6%), Colombia (+15.8%) and Brazil (+9.0%) displayed positive paces of growth. Moreover, Honduras emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +17.6% from 2012-2022. By contrast, Argentina (-6.4%) and Guatemala (-8.1%) illustrated a downward trend over the same period. Honduras (+11 p.p.), Brazil (+10 p.p.) and Colombia (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Guatemala saw its share reduced by -2.8% and -16.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest crispbread, rusk and toasted bread supplier in Latin America and the Caribbean, comprising 40% of total exports. The second position in the ranking was held by Brazil ($X), with an 18% share of total exports. It was followed by Honduras, with a 15% share.

In Mexico, crispbread, rusk and toasted bread exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+7.9% per year) and Honduras (+19.4% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, picking up by 8.1% against the previous year. In general, the export price continues to indicate mild growth. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+5.0%), while the other leaders experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports in Latin America and the Caribbean

In 2022, after six years of growth, there was significant decline in supplies from abroad of crispbread, rusks and toasted bread, when their volume decreased by -9.8% to X tons. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.2% against 2014 indices. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, crispbread, rusk and toasted bread imports dropped slightly to $X in 2022. Total imports indicated tangible growth 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, imports increased by +50.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Mexico (X tons), distantly followed by Ecuador (X tons), Chile (X tons), Colombia (X tons), the Dominican Republic (X tons), Guatemala (X tons) and Panama (X tons) were the largest importers of crispbread, rusks and toasted bread, together making up 68% of total imports. The following importers - Uruguay (X tons), Argentina (X tons), Peru (X tons), Aruba (X tons), Costa Rica (X tons) and El Salvador (X tons) - together made up 20% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of +118.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported crispbread, rusks and toasted bread in Latin America and the Caribbean, comprising 23% of total imports. The second position in the ranking was held by Chile ($X), with an 11% share of total imports. It was followed by the Dominican Republic, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to -2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+19.0% per year) and the Dominican Republic (+4.5% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 9.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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