Mexico: Crispbread Market 2024

Crispbread Market Size in Mexico

The Mexican crispbread market rose remarkably to $X in 2021, growing by 7.1% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 decreased by -5.6% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Crispbread Production in Mexico

In value terms, crispbread production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.4% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 60%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Crispbread Exports

Exports from Mexico

In 2021, overseas shipments of crispbread increased by 122% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, saw a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 650%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, crispbread exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 444% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for crispbread exports from Mexico, accounting for a 94% share of total exports. Moreover, crispbread exports to the United States exceeded the volume sent to the second major destination, New Zealand (X kg), more than tenfold. Belize (X kg) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (0.0% per year) and Belize (-35.4% per year).

In value terms, the United States ($X) remains the key foreign market for crispbread exports from Mexico, comprising 97% of total exports. The second position in the ranking was held by New Zealand ($X), with a 1.1% share of total exports. It was followed by Belize, with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (0.0% per year) and Belize (-17.9% per year).

Export Prices by Country

The average crispbread export price stood at $X per ton in 2021, jumping by 16% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crispbread export price decreased by -4.6% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 47%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belize (+27.2%), while the prices for the other major destinations experienced more modest paces of growth.

Crispbread Imports

Imports into Mexico

In 2021, overseas purchases of crispbread increased by 211% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a perceptible descent. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, crispbread imports rose significantly to $X in 2021. In general, imports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 46%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of crispbread to Mexico, with a 90% share of total imports. Moreover, crispbread imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. The third position in this ranking was held by the UK (X tons), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +42.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-30.0% per year) and the UK (-11.3% per year).

In value terms, the United States ($X) constituted the largest supplier of crispbread to Mexico, comprising 67% of total imports. The second position in the ranking was held by Spain ($X), with an 11% share of total imports. It was followed by the UK, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-17.2% per year) and the UK (-12.3% per year).

Import Prices by Country

The average crispbread import price stood at $X per ton in 2021, dropping by -64.9% against the previous year. In general, the import price, however, recorded a mild increase. The most prominent rate of growth was recorded in 2018 an increase of 178%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :