Latin America and the Caribbean: Crispbread Market 2024

Crispbread Market Size in Latin America and the Caribbean

The Latin American crispbread market stood at $X in 2021, with an increase of 6.8% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Crispbread Production in Latin America and the Caribbean

In value terms, crispbread production expanded significantly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 decreased by -5.7% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 22%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Crispbread Exports

Exports in Latin America and the Caribbean

In 2021, exports of crispbread in Latin America and the Caribbean soared to X tons, increasing by 23% on the year before. Overall, exports enjoyed a mild increase. The pace of growth appeared the most rapid in 2018 when exports increased by 29%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, crispbread exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras dominates exports structure, accounting for X tons, which was near 89% of total exports in 2021. It was distantly followed by the Dominican Republic (X tons), achieving a 6.6% share of total exports.

Honduras was also the fastest-growing in terms of the crispbread exports, with a CAGR of +20.9% from 2012 to 2021. At the same time, the Dominican Republic (+5.1%) displayed positive paces of growth. While the share of Honduras (+70 p.p.) and the Dominican Republic (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Honduras ($X) remains the largest crispbread supplier in Latin America and the Caribbean, comprising 89% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 6% share of total exports.

In Honduras, crispbread exports increased at an average annual rate of +23.2% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 6.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2015 an increase of 20% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Honduras ($X per ton), while the Dominican Republic totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+4.5%).

Crispbread Imports

Imports in Latin America and the Caribbean

In 2021, after three years of decline, there was significant growth in overseas purchases of crispbread, when their volume increased by 26% to X tons. In general, imports, however, saw a abrupt shrinkage. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, crispbread imports stood at $X in 2021. Over the period under review, imports, however, showed a pronounced downturn. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of crispbread imports in 2021 were Mexico (X tons), Aruba (X tons), Chile (X tons), the Dominican Republic (X tons), Panama (X tons), Venezuela (X tons), Peru (X tons), Trinidad and Tobago (X tons), Guyana (X tons), Grenada (X tons), Nicaragua (X tons) and Costa Rica (X tons), together resulting at 81% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Costa Rica (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crispbread importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Aruba ($X), with a combined 49% share of total imports. Panama, Trinidad and Tobago, the Dominican Republic, Venezuela, Costa Rica, Peru, Grenada, Nicaragua and Guyana lagged somewhat behind, together accounting for a further 31%.

Among the main importing countries, Costa Rica, with a CAGR of +50.3%, saw the highest growth rate of 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 Latin America and the Caribbean amounted to $X per ton, falling by -8.5% against the previous year. Import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crispbread import price decreased by -15.1% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by 29%. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Trinidad and Tobago ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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