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

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

In 2021, the Vietnamese rusks and toasted bread market decreased by -23.1% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a measured increase. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

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

In value terms, rusks and toasted bread production shrank rapidly to $X in 2021 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +48.9% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of 82%. As a result, production reached the peak level of $X, and then reduced dramatically in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Vietnam

In 2021, shipments abroad of rusks, toasted bread and similar toasted products decreased by -2% to X tons, falling for the fourth year in a row after six years of growth. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 101%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, rusks and toasted bread exports declined to $X in 2021. Overall, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 97% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for rusks and toasted bread exports from Vietnam, with a 61% share of total exports. Moreover, rusks and toasted bread exports to China exceeded the volume sent to the second major destination, Myanmar (X tons), fivefold. The third position in this ranking was taken by the Philippines (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+13.6% per year) and the Philippines (+39.3% per year).

In value terms, China ($X) remains the key foreign market for rusks, toasted bread and similar toasted products exports from Vietnam, comprising 67% of total exports. The second position in the ranking was held by Myanmar ($X), with a 15% share of total exports. It was followed by the Philippines, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+15.0% per year) and the Philippines (+55.3% per year).

Export Prices by Country

The average rusks and toasted bread export price stood at $X per ton in 2021, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2017 an increase of 10% 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 by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to the Philippines ($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 Indonesia (+15.7%), 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 Vietnam

In 2021, approx. X tons of rusks, toasted bread and similar toasted products were imported into Vietnam; jumping by 49% against the previous year's figure. Over the period under review, imports recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 375% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, rusks and toasted bread imports skyrocketed to $X in 2021. In general, imports showed buoyant growth. The growth pace was the most rapid in 2014 with an increase of 252% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of rusks and toasted bread to Vietnam, with a 59% share of total imports. Moreover, rusks and toasted bread imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to +20.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+24.6% per year) and China (+23.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of rusks, toasted bread and similar toasted products to Vietnam, comprising 60% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total imports. It was followed by China, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+15.6% per year) and China (+30.8% per year).

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, shrinking by -3% against the previous year. Over the period under review, the import price saw a perceptible reduction. The pace of growth appeared the most rapid in 2018 an increase of 13% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were China ($X per ton) and Indonesia ($X per ton), while the price for the United States ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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