Philippines: Market for Rusks, Toasted Bread and Similar Toasted Products 2024

Market Size for Rusks, Toasted Bread and Similar Toasted Products in the Philippines

The Philippine rusks and toasted bread market surged to $X in 2022, growing by X% against the previous year. In general, consumption recorded a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Rusks, Toasted Bread and Similar Toasted Products in the Philippines

In value terms, rusks and toasted bread production surged to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from the Philippines

In 2022, the amount of rusks, toasted bread and similar toasted products exported from the Philippines stood at X tons, increasing by X% against the year before. Overall, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, rusks and toasted bread exports expanded to $X in 2022. In general, exports enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for rusks and toasted bread exports from the Philippines, accounting for a X% share of total exports. Moreover, rusks and toasted bread exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, the United States (X tons), threefold. Japan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the United States ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the largest markets for rusks and toasted bread exported from the Philippines worldwide, with a combined X% share of total exports. Canada, the United Arab Emirates, Hong Kong SAR, Indonesia, Australia, Norway, Guam, Singapore and Qatar lagged somewhat behind, together comprising a further X%.

Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average rusks and toasted bread export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), 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 the Philippines

In 2022, the amount of rusks, toasted bread and similar toasted products imported into the Philippines skyrocketed to X tons, surging by X% against the previous year. Overall, imports showed significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, rusks and toasted bread imports soared to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main suppliers of rusks and toasted bread imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), India ($X) and China ($X) constituted the largest rusks and toasted bread suppliers to the Philippines, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average rusks and toasted bread import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price posted a buoyant increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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