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U.S. - Bread and Bakery Product - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Feb 2, 2023
U.S. Bread and Bakery Price Falls Modestly to $4,105 per Ton
U.S. Bread and Bakery Import Price in November 2022
In November 2022, the bread and bakery price stood at $4,105 per ton (CIF, US), dropping by -4.6% against the previous month. Over the period from January 2022 to November 2022, it increased at an average monthly rate of +1.6%. The growth pace was the most rapid in August 2022 when the average import price increased by 5.3% month-to-month. Over the period under review, average import prices reached the maximum at $4,302 per ton in October 2022, and then declined slightly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In November 2022, the country with the highest price was France ($7,020 per ton), while the price for Mexico ($2,362 per ton) was amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Bread and Bakery Import Prices by Type
Average prices varied somewhat amongst the major supplied products. In November 2022, the product with the highest price was crispbread, rusks and toasted bread ($5,202 per ton), while the price for gingerbread, sweet biscuits and waffles ($3,883 per ton) was amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by gingerbread, sweet biscuit and waffle (+2.3%), while the prices for the other products experienced more modest paces of growth.
U.S. Bread and Bakery Imports
In November 2022, supplies from abroad of bread and bakery decreased by -6% to 218K tons for the first time since June 2022, thus ending a four-month rising trend. The total import volume increased at an average monthly rate of +1.8% over the period from January 2022 to November 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in March 2022 with an increase of 20% against the previous month. Imports peaked at 232K tons in October 2022, and then contracted in the following month.
In value terms, bread and bakery imports declined to $896M (IndexBox estimates) in November 2022. Overall, total imports indicated a notable increase from January 2022 to November 2022: its value increased at an average monthly rate of +3.4% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2022 figures, imports decreased by -10.3% against October 2022 indices. The pace of growth appeared the most rapid in March 2022 when imports increased by 20% month-to-month. Over the period under review, imports hit record highs at 999K tons in October 2022, and then declined in the following month.
U.S. Bread and Bakery Imports by Type
Fresh bread and miscellaneous bakery (139K tons), gingerbread, sweet biscuits and waffles (76K tons) and crispbread, rusks and toasted bread (4.1K tons) were the main products of bread and bakery imports to the United States.
From January 2022 to November 2022, the biggest increases were in fresh bread and miscellaneous bakery (with a CAGR of +1.8%), while purchases for the other products experienced more modest paces of growth.
In value terms, fresh bread and miscellaneous bakery ($581M), gingerbread, sweet biscuits and waffles ($293M) and crispbread, rusks and toasted bread ($21M) constituted the most imported types of bread and bakery in the United States.
U.S. Bread and Bakery Imports by Country
Canada (87K tons), Mexico (80K tons) and Italy (6.2K tons) were the main suppliers of bread and bakery imports to the United States, together comprising 79% of total imports. India, France and Germany lagged somewhat behind, together accounting for a further 5.7%.
From January 2022 to November 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +4.8%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Canada ($455M) constituted the largest supplier of bread and bakery to the United States, comprising 51% of total imports. The second position in the ranking was held by Mexico ($189M), with a 21% share of total imports. It was followed by Italy, with a 4.5% share.
From January 2022 to November 2022, the average monthly growth rate of value from Canada totaled +4.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+2.0% per month) and Italy (+4.3% per month).
Factors Affecting Bread and Bakery Prices
Bread and bakery prices in the United States have been on the rise in recent years, due to a number of factors. One of the main drivers of this price increase has been the rising cost of wheat, which is a key ingredient in bread and other baked goods.
The cost of wheat has risen sharply due to weather-related supply disruptions and increased global demand. Other factors that have contributed to higher bread and bakery prices include higher labor costs, rent price, transportation costs, and packaging costs.
With wages rising, particularly in urban areas, bakers and other food industry workers are demanding higher salaries, which ultimately gets passed down to consumers in the form of higher prices. The price of rent or owning a bakery has gone up in many areas of the country as commercial real estate values have increased.
Despite these price increases, Americans continue to consume large quantities of bread and other baked goods. In fact, per capita consumption of bread in the United States has increased in recent years. This is likely due to the fact that bread and baked goods are relatively affordable compared to other food items, and they are also convenient and easy to eat. As a result, even though prices have gone up, demand for bread and bakery products remains strong.
This report provides an in-depth analysis of the bread and bakery market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 10721130 - Crispbread
• Prodcom 10721230 - Gingerbread and the like
• Prodcom 10721255 - Sweet biscuits (including sandwich biscuits, excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)
• Prodcom 10721259 - Waffles and wafers (including salted) (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)
• Prodcom 10721150 - Rusks, toasted bread and similar toasted products
• Prodcom 10711100 - Fresh bread containing by weight in the dry matter state . 5 % of sugars and . 5 % of fat (excluding with added honey, e ggs, cheese or fruit)
• Prodcom 10711200 - Cake and pastry products, other bakers
• Prodcom 10721910 - Matzos
• Prodcom 10721920 - Communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products
• Prodcom 10721940 - Biscuits (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa, sweet biscuits, waffles and wafers)
• Prodcom 10721950 - Savoury or salted extruded or expanded products
• Prodcom 10721990 - Bakersu2019 wares, no added sweetening (including crepes, pancakes, quiche, pizza; excluding sandwiches, crispbread, waffles, wafers, rusks, toasted, savoury or salted extruded/expanded products)
Country coverage:
• United States
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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