Mexico: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Mexico

In 2021, the Mexican sweet biscuit market decreased by -42.5% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption showed a perceptible downturn. Sweet biscuit consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in Mexico

In value terms, sweet biscuit production reduced slightly to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase 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 decreased by -2.5% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 30%. Sweet biscuit production peaked at $X in 2018; afterwards, it flattened through to 2021.

Sweet Biscuit Exports

Exports from Mexico

In 2021, sweet biscuit exports from Mexico soared to X tons, increasing by 71% compared with the previous year's figure. Overall, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 46% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for sweet biscuit exports from Mexico, with a 95% share of total exports. It was followed by Canada (X tons), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +13.8%.

In value terms, the United States ($X) remains the key foreign market for sweet biscuits exports from Mexico, comprising 94% of total exports. The second position in the ranking was held by Canada ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +13.1%.

Export Prices by Country

The average sweet biscuit export price stood at $X per ton in 2021, with a decrease of -30.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 59% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Canada ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+2.9%).

Sweet Biscuit Imports

Imports into Mexico

Sweet biscuit imports into Mexico amounted to X tons in 2021, with an increase of 7.1% compared with the year before. Overall, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, sweet biscuit imports amounted to $X in 2021. In general, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 decreased by -0.5% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 23% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of sweet biscuit to Mexico, with a 60% share of total imports. Moreover, sweet biscuit imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+19.2% per year) and China (+17.3% per year).

In value terms, the United States ($X) constituted the largest supplier of sweet biscuits to Mexico, comprising 60% of total imports. The second position in the ranking was taken by Spain ($X), with an 8.1% share of total imports. It was followed by China, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.6% per year) and China (+14.4% per year).

Import Prices by Country

In 2021, the average sweet biscuit import price amounted to $X per ton, dropping by -1.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per ton), while the price for Spain ($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 States (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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