Ecuador: Bread And Bakery Market 2024

Bread And Bakery Market Size in Ecuador

The Ecuadorian bread and bakery market fell to $X in 2023, reducing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Bread and bakery consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Bread And Bakery Production in Ecuador

In value terms, bread and bakery production declined to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

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Bread And Bakery Exports

Exports from Ecuador

In 2023, exports of bread and bakery from Ecuador rose markedly to X tons, increasing by X% on the previous year's figure. Overall, exports posted strong growth. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, bread and bakery exports dropped to $X in 2023. In general, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then declined in the following year.

Exports by Country

Peru (X tons) was the main destination for bread and bakery exports from Ecuador, with a X% share of total exports. Moreover, bread and bakery exports to Peru exceeded the volume sent to the second major destination, Chile (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Peru totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and the United States (X% per year).

In value terms, Peru ($X) remains the key foreign market for bread and bakery exports from Ecuador, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Peru amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Chile (X% per year).

Export Prices by Country

The average bread and bakery export price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price saw a mild descent. The growth pace was the most rapid in 2022 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Ecuador

In 2023, overseas purchases of bread and bakery decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, total imports indicated a noticeable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then contracted modestly in the following year.

In value terms, bread and bakery imports contracted to $X in 2023. Overall, total imports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at $X in 2022, and then reduced in the following year.

Imports by Country

Peru (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of bread and bakery imports to Ecuador, together comprising X% of total imports. Turkey, Spain, Argentina and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bread and bakery suppliers to Ecuador were Colombia ($X), Peru ($X) and the United States ($X), together comprising X% of total imports. Spain, Argentina, Turkey and Mexico lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bread and bakery import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform