U.S. to Boost Bread and Bakery Imports to Decade’s Maximum of $7.7B
IndexBox has just published a new report: ‘U.S. – Bread and Bakery Product – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
In Q1-Q3 2021, imports on the U.S. bread and bakery market reached 1.6M tonnes worth $5.6B, which was 13% more in physical terms and 21% higher in value terms than in the same period of the previous year. American imports are expected to surpass a $7.7B annual total, reaching the highest level ever. Mexico, Canada, Italy and India are the most significant bakery suppliers to the U.S. Fresh bread and bakery, followed by sweet biscuits and waffles, constitute the primary imported products.
U.S. Bread and Bakery Imports
In Q1-Q3 2021, the U.S. imported 1.6M tonnes of bread and bakery, a 13%-increase compared to the same period of 2020. In monetary terms, the purchases rose by 21% to $5.6B over that period and are expected to surpass a $7.7B annual total, reaching the highest level ever.
In 2020, bread and bakery imports totaled 1.9M tonnes, increasing by 6.2% against 2019. In value terms, bread and bakery imports rose to $6.4B.
Mexico (734K tonnes), Canada (719K tonnes) and India (52K tonnes) were the leading suppliers of bread and bakery imports to the U.S., together accounting for 78% of total imports. Italy, Germany and France lagged somewhat behind, comprising a further 6.2% (IndexBox estimates).
In value terms, Canada ($3B) constituted the largest supplier of bread and bakery to the U.S., comprising 47% of total imports. The second position in the ranking was occupied by Mexico ($1.4B), with a 21% share of total imports. It was followed by Italy, with a 4.2% share.
U.S. Bread and Bakery Imports by Type
In 2020, fresh bread and miscellaneous bakery (1.2M tonnes) constituted 62% of total imports. Moreover, shipments of fresh bread and miscellaneous bakery exceeded the figures recorded for the second-largest type, sweet biscuits (561K tonnes), twofold. The third position in this ranking was occupied by waffles and wafers (123K tonnes), with a 6.3% share.
Over the past decade, the average annual growth rate of the import volume (in physical terms) of fresh bread and miscellaneous bakery amounted to +8.9%. Regarding the other supplied products, the following average annual growth rates were recorded: sweet biscuits (+8.0% per year) and waffles and wafers (+2.1% per year).
In value terms, fresh bread and miscellaneous bakery ($4.2B) constituted the largest type of bread and bakery supplied to the U.S., comprising 65% of total imports. The second position in the ranking was occupied by sweet biscuits ($1.4B), with a 21% share of total imports. It was followed by waffles and wafers, with a 9.3% share.
Source: IndexBox Platform