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

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

In 2021, after three years of growth, there was significant decline in the Latin American rusks and toasted bread market, when its value decreased by -6.5% to $X. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.2% against 2012 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

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

In value terms, rusks and toasted bread production fell to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 increased by +48.7% against 2012 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 15%. As a result, production reached the peak level of $X, and then dropped in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports in Latin America and the Caribbean

In 2021, shipments abroad of rusks, toasted bread and similar toasted products increased by 25% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread exports amounted to $X in 2021. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 14% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Mexico represented the major exporting country with an export of around X tons, which reached 49% of total exports. It was distantly followed by Brazil (X tons), Guatemala (X tons), Colombia (X tons) and Argentina (X tons), together comprising a 42% share of total exports. Ecuador (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to rusks and toasted bread exports from Mexico stood at +1.6%. At the same time, Ecuador (+51.8%), Colombia (+17.6%), Brazil (+8.6%) and Argentina (+2.2%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +51.8% from 2012-2021. By contrast, Guatemala (-3.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Colombia and Ecuador increased by +8, +5.1 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest rusks and toasted bread supplier in Latin America and the Caribbean, comprising 42% of total exports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total exports. It was followed by Colombia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico totaled -1.1%. In the other countries, the average annual rates were as follows: Brazil (+6.1% per year) and Colombia (+19.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by -14.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 7.8% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports in Latin America and the Caribbean

In 2021, overseas purchases of rusks, toasted bread and similar toasted products increased by 26% to X tons, rising for the fifth year in a row after two years of decline. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.4% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.5% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Ecuador (X tons), Colombia (X tons), Chile (X tons) and Uruguay (X tons) were the key importers of rusks, toasted bread and similar toasted products, together comprising 68% of total imports. Panama (X tons), Peru (X tons), Guatemala (X tons), Costa Rica (X tons), Aruba (X tons), the Dominican Republic (X tons), Brazil (X tons) and El Salvador (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +133.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported rusks, toasted bread and similar toasted products in Latin America and the Caribbean, comprising 31% of total imports. The second position in the ranking was held by Ecuador ($X), with an 11% share of total imports. It was followed by Chile, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Ecuador (+82.0% per year) and Chile (+20.6% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, picking up by 2.3% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2015 an increase of 5.9% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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