China: Market for Rusks, Toasted Bread and Similar Toasted Products 2022

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

In 2021, the Chinese rusks and toasted bread market decreased by -2.9% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.4% against 2016 indices. Rusks and toasted bread consumption peaked at $X in 2020, and then reduced in the following year.

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

In value terms, rusks and toasted bread production shrank modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.1% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of 66%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from China

Rusks and toasted bread exports from China soared to X tons in 2021, growing by 39% against the previous year. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 92% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, rusks and toasted bread exports soared to $X in 2021. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by 87%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons), Hong Kong SAR (X tons) and Japan (X tons) were the main destinations of rusks and toasted bread exports from China, with a combined 27% share of total exports.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +482.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Hong Kong SAR ($X) and the UK ($X) constituted the largest markets for rusks and toasted bread exported from China worldwide, together comprising 29% of total exports.

Japan, with a CAGR of +488.8%, recorded the highest rates of growth with regard to 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

The average rusks and toasted bread export price stood at $X per ton in 2021, shrinking by -3.7% against the previous year. In general, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 16%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Chile ($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 Denmark (+9.5%), 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 China

In 2021, overseas purchases of rusks, toasted bread and similar toasted products were finally on the rise to reach X tons after two years of decline. In general, imports saw resilient growth. The growth pace was the most rapid in 2013 with an increase of 95% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, rusks and toasted bread imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 99% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of rusks and toasted bread to China, accounting for a 73% share of total imports. Moreover, rusks and toasted bread imports from Vietnam exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. South Korea (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+70.6% per year) and South Korea (+40.4% per year).

In value terms, Vietnam ($X) constituted the largest supplier of rusks and toasted bread to China, comprising 68% of total imports. The second position in the ranking was taken by France ($X), with a 10% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam amounted to +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+72.0% per year) and South Korea (+53.9% per year).

Import Prices by Country

The average rusks and toasted bread import price stood at $X per ton in 2021, with an increase of 1.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 40%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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