Puerto Rico: Bread And Bakery Market 2024

Bread And Bakery Market Size in Puerto Rico

The Puerto Rican bread and bakery market declined to $X in 2021, dropping by -9.2% against the previous year. In general, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.2% against 2019 indices. Puerto Rico consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Bread And Bakery Production in Puerto Rico

In value terms, bread and bakery production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 42% against the previous year. Puerto Rico production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Bread And Bakery Exports

Exports from Puerto Rico

Bread and bakery exports from Puerto Rico totaled less than X kg in 2021, remaining relatively unchanged against the previous year. In general, exports recorded a relatively flat trend pattern.

In value terms, bread and bakery exports stood at less than $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern.

Exports by Country

The biggest shipments were from Germany (X tons), Turkey (X tons), Canada (X tons), Belgium (X tons), France (X tons), the Netherlands (X tons), Mexico (X tons), Poland (X tons), Italy (X tons), the United States (X tons) and Spain (X tons), together finishing at 65% of total export. The following exporters - the UK (X tons) and Russia (X tons) - each recorded a 4.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +15.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Canada ($X) and Italy ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 26% of total exports. These countries were followed by Belgium, France, the Netherlands, Turkey, Poland, the United States, Mexico, Spain, the UK and Russia, which together accounted for a further 45%.

Among the main exporting countries, Turkey, with a CAGR of +13.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, leveling off at the previous year. In general, the export price recorded a relatively flat trend pattern.

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 Italy ($X per ton), while Russia ($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 (+4.9%), while the other leaders experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Puerto Rico

In 2021, the amount of bread and bakery imported into Puerto Rico was estimated at less than X kg, flattening at 2020. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, bread and bakery imports amounted to less than $X in 2021. Overall, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons), the UK (X tons) and France (X tons) were the key importers of bread and bakery, together achieving 34% of total imports. The Netherlands (X tons), Belgium (X tons), Canada (X tons), Italy (X tons), Iraq (X tons), Spain (X tons), Austria (X tons), Poland (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to bread and bakery imports into the United States stood at +9.3%. At the same time, Iraq (+9.9%), Poland (+7.7%), Germany (+5.6%), the Netherlands (+4.4%), Italy (+4.0%), Belgium (+3.5%), Canada (+3.2%), the UK (+3.2%), France (+3.0%), Austria (+3.0%), Australia (+2.7%) and Spain (+1.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the world, with a CAGR of +9.9% from 2012-2021. While the share of the United States (+4.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported bread and bakery into Puerto Rico, comprising 17% of global imports. The second position in the ranking was held by Germany ($X), with a 6.9% share of global imports. It was followed by the UK, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +9.4%. In the other countries, the average annual rates were as follows: Germany (+5.5% per year) and the UK (+3.0% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, standing approx. at the previous year. Overall, the import price showed a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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