Singapore: Market for Crispbread, Rusks and Toasted Bread 2025

Market Size for Crispbread, Rusks and Toasted Bread in Singapore

In 2022, after four years of growth, there was significant decline in the Singaporean market for crispbread, rusks and toasted bread, when its value decreased by -6% to $X. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Crispbread, rusk and toasted bread consumption peaked at $X in 2021, and then contracted in the following year.

Production of Crispbread, Rusks and Toasted Bread in Singapore

In value terms, crispbread, rusk and toasted bread production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Singapore

In 2022, after two years of growth, there was significant decline in overseas shipments of crispbread, rusks and toasted bread, when their volume decreased by -23.6% to X tons. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 38%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, crispbread, rusk and toasted bread exports reduced notably to $X in 2022. In general, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of 46%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of crispbread, rusk and toasted bread exports from Singapore, with a combined 67% share of total exports. Vietnam, Hong Kong SAR, Solomon Islands, Mauritius, Japan, Indonesia, Maldives and Myanmar lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +63.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crispbread, rusk and toasted bread exported from Singapore were the Philippines ($X), Malaysia ($X) and Thailand ($X), together comprising 67% of total exports. Vietnam, Hong Kong SAR, Mauritius, Japan, Solomon Islands, Indonesia, Maldives and Myanmar lagged somewhat behind, together accounting for a further 27%.

Hong Kong SAR, with a CAGR of +50.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for crispbread, rusks and toasted bread stood at $X per ton in 2022, increasing by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 17%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into Singapore

In 2022, supplies from abroad of crispbread, rusks and toasted bread decreased by -27% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 136% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell significantly in the following year.

In value terms, crispbread, rusk and toasted bread imports reduced dramatically to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 118%. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of crispbread, rusk and toasted bread to Singapore, accounting for a 48% share of total imports. Moreover, crispbread, rusk and toasted bread imports from South Korea exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was held by India (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled +139.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+12.0% per year) and India (+39.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of crispbread, rusks and toasted bread to Singapore, comprising 34% of total imports. The second position in the ranking was taken by the United States ($X), with a 14% share of total imports. It was followed by Malaysia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +146.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.8% per year) and Malaysia (+16.7% per year).

Import Prices by Country

The average import price for crispbread, rusks and toasted bread stood at $X per ton in 2022, with a decrease of -21.5% against the previous year. In general, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of 25%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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