Philippines: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in the Philippines

The Philippine market for crispbread, rusks and toasted bread rose notably to $X in 2023, surging by X% against the previous year. In general, the total consumption indicated a resilient expansion 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, consumption decreased by X% against 2021 indices. Crispbread, rusk and toasted bread consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Crispbread, Rusks and Toasted Bread in the Philippines

In value terms, crispbread, rusk and toasted bread production rose significantly to $X in 2023 estimated in export price. Overall, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Crispbread, rusk and toasted bread production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Crispbread, Rusks and Toasted Bread

Exports from the Philippines

After two years of decline, shipments abroad of crispbread, rusks and toasted bread increased by X% to X tons in 2023. Overall, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, crispbread, rusk and toasted bread exports expanded to $X in 2023. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons) were the main destinations of crispbread, rusk and toasted bread exports from the Philippines, with a combined X% share of total exports. The United Arab Emirates, Indonesia, Canada, Vietnam, Australia, Italy, Kuwait, Qatar, Guam and Saudi Arabia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crispbread, rusk and toasted bread exported from the Philippines were the United States ($X), Australia ($X) and Singapore ($X), together comprising X% of total exports. Taiwan (Chinese), the United Arab Emirates, Canada, Italy, Kuwait, Qatar, Indonesia, Vietnam, Guam and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for crispbread, rusks and toasted bread stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2023: its price 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. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2022, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Vietnam ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into the Philippines

Crispbread, rusk and toasted bread imports into the Philippines amounted to X tons in 2023, with an increase of X% against the previous year. Overall, imports posted a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, crispbread, rusk and toasted bread imports reduced modestly to $X in 2023. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then dropped modestly in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest crispbread, rusk and toasted bread supplier to the Philippines, accounting for a X% share of total imports. Moreover, crispbread, rusk and toasted bread imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

In value terms, the largest crispbread, rusk and toasted bread suppliers to the Philippines were China ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of total imports. India and the United States lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded 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 import price for crispbread, rusks and toasted bread stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2022, and then contracted modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform