Colombia: Crispbread Market 2023

Crispbread Market Size in Colombia

The Colombian crispbread market totaled $X in 2021, increasing by 2.1% against the previous year. The market value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Crispbread Production in Colombia

In value terms, crispbread production declined slightly to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 increased by +44.5% against 2015 indices. The growth pace was the most rapid in 2016 with an increase of 38% against the previous year. Crispbread production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Crispbread Exports

Exports from Colombia

In 2021, shipments abroad of crispbread decreased by -35.7% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2017 with an increase of 998% 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 stood at a somewhat lower figure.

In value terms, crispbread exports expanded significantly to $X in 2021. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,064% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for crispbread exports from Colombia, with a 87% share of total exports. Moreover, crispbread exports to the United States exceeded the volume sent to the second major destination, Canada (X kg), tenfold. The third position in this ranking was taken by the UK (X kg), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +48.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+31.2% per year) and the UK (+6.1% per year).

In value terms, the United States ($X) remains the key foreign market for crispbread exports from Colombia, comprising 78% of total exports. The second position in the ranking was taken by the UK ($X), with a 12% share of total exports. It was followed by Canada, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +59.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+18.9% per year) and Canada (+37.9% per year).

Export Prices by Country

The average crispbread export price stood at $X per ton in 2021, jumping by 75% against the previous year. Overall, the export price showed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 the UK (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Crispbread Imports

Imports into Colombia

In 2021, after two years of decline, there was significant growth in purchases abroad of crispbread, when their volume increased by 472% to X tons. Over the period under review, imports enjoyed notable growth. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, crispbread imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 396% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The UK (X tons), the United States (X kg) and Italy (X kg) were the main suppliers of crispbread imports to Colombia.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +20.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X) constituted the largest supplier of crispbread to Colombia, comprising 53% of total imports. The second position in the ranking was taken by Italy ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the UK stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.6% per year) and the United States (-10.9% per year).

Import Prices by Country

In 2021, the average crispbread import price amounted to $X per ton, dropping by -24.9% against the previous year. In general, the import price showed a noticeable decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 63%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :