Thailand: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Thailand

In 2021, after two years of growth, there was significant decline in the Thai rusks and toasted bread market, when its value decreased by -7.3% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Rusks and toasted bread consumption peaked at $X in 2020, and then contracted in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Thailand

In value terms, rusks and toasted bread production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 30%. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Thailand

In 2021, shipments abroad of rusks, toasted bread and similar toasted products decreased by -4.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 174%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, rusks and toasted bread exports rose notably to $X in 2021. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 204% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons), Cambodia (X tons) and India (X tons) were the main destinations of rusks and toasted bread exports from Thailand, together comprising 45% of total exports. These countries were followed by Vietnam, Australia, Pakistan, Myanmar, the Philippines, Poland, the United Arab Emirates, South Korea, Malaysia and Indonesia, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +319.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rusks and toasted bread exported from Thailand were Lao People's Democratic Republic ($X), Cambodia ($X) and India ($X), with a combined 50% share of total exports. These countries were followed by Vietnam, Australia, Myanmar, South Korea, Pakistan, Poland, the United Arab Emirates, the Philippines, Malaysia and Indonesia, which together accounted for a further 38%.

South Korea, with a CAGR of +359.5%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average rusks and toasted bread export price amounted to $X per ton, growing by 11% against the previous year. Overall, the export price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2019 an increase of 31% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Philippines ($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 South Korea (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Thailand

In 2021, approx. X tons of rusks, toasted bread and similar toasted products were imported into Thailand; with an increase of 70% compared with the year before. In general, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 113%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, rusks and toasted bread imports skyrocketed to $X in 2021. Overall, imports saw a strong increase. The growth pace was the most rapid in 2016 when imports increased by 212%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

The UK (X tons), France (X tons) and India (X tons) were the main suppliers of rusks and toasted bread imports to Thailand, together comprising 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +146.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of rusks, toasted bread and similar toasted products to Thailand, comprising 55% of total imports. The second position in the ranking was taken by the UK ($X), with a 22% share of total imports. It was followed by India, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled +93.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+18.6% per year) and India (+83.2% per year).

Import Prices by Country

The average rusks and toasted bread import price stood at $X per ton in 2021, shrinking by -9.7% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the average import price increased by 260%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+18.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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