Crispbread, rusks, toasted bread and similar toasted products market in Greece

Earlier Report Observations

The Greek market for crispbread, rusks, and similar toasted products experienced steady growth from 2018 to 2022. Market volume in physical terms increased from 37 269 t to 43 998 t, while in value terms, it rose from $110.2 million to $126.6 million.

This expansion was accompanied by a rise in domestic production from 36 403 t to 42 456 t over the same period. Import volumes fluctuated, declining from 5 867 t in 2018 to 5 572 t in 2020 before recovering to 7 137 t in 2021. Export volumes also showed an overall upward trend, reaching 5 300 t in 2022.

In the following years, from 2023 to 2024, exports continued to grow significantly, reaching 8 759 t in 2024, while imports remained relatively stable around 6 500 t. These shifts in trade flows indicate evolving market dynamics for these products in Greece.

Production crispbread, rusks and toasted bread in Greece

In value, 2017-2020, M $ US

Greece's production of crispbread, rusks, toasted bread, and similar toasted products has grown for the third year in a row. In 2020, the output was valued at 123.8 million US dollars, marking a slight increase of 2.8% compared to 2019. From 2017 to 2020, production rose by 14.2%, with an average annual growth rate of 4.5%.

Annual dynamics of production in Greece in value, 2017-2020, M $ US

In kind, 2017-2020, t

Production of crispbread, rusks, toasted bread, and similar toasted products in Greece has increased for the third consecutive year. In 2020, Greece produced 41 701 tonnes of these products, up by 1.9% year-over-year. Over the period from 2017 to 2020, production grew by 15.4%, with a compound annual growth rate of 4.9%.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports crispbread, rusks and toasted bread from Greece

Exports in kind, t

After two years of growth, exports of crispbread, rusks, toasted bread, and similar toasted products from Greece declined. In 2020, Greece exported 5 360 tonnes, which is 1.6% lower than in 2019. Between 2017 and 2020, exports increased by 71.1%, equating to an annualized rate of 19.6%. The highest volume was recorded in 2019 at 5 445 tonnes, while the largest increase occurred in 2018, with a jump of 59.6%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Greece supplied crispbread, rusks, toasted bread, and similar toasted products to a diverse range of markets. Even the top destinations—the United States, Bulgaria, and Cyprus—together accounted for only 48.3% of total exports in volume terms.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Greece's exports of crispbread, rusks, toasted bread, and similar toasted products have increased for the third consecutive year. In 2020, exports stood at 17.205 million US dollars, representing a small gain of 1.8% over the previous year. Between 2017 and 2020, exports surged by 100.3%, with an annualized growth rate of 26.1%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Over the period 2017–2020, the United States, Cyprus, and Bulgaria were the primary buyers of crispbread, rusks, toasted bread, and similar toasted products from Greece in value terms. The United States accounted for 31.6% of exports, Cyprus for 13.1%, and Bulgaria for 11.0%, jointly making up 55.7% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports crispbread, rusks and toasted bread to Greece

Imports in kind, t

Imports of crispbread, rusks, toasted bread, and similar toasted products into Greece have declined for the second year in a row. In 2020, Greece imported approximately 5 572 tonnes, indicating a decrease of 3.6% year-over-year. Between 2017 and 2020, imports rose by 25.7%, with an annualized rate of 7.9%. The peak volume was recorded in 2018 at 5 867 tonnes, which also saw the largest increase of 32.4%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, the leading sources for imports of crispbread, rusks, toasted bread, and similar toasted products into Greece in volume terms were Italy, Bulgaria, and Romania. Italy contributed 27.0% of imports, Bulgaria 20.2%, and Romania 14.5%, together accounting for 61.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

In 2020, Greece imported a total of 13.842 million US dollars worth of crispbread, rusks, toasted bread, and similar toasted products, which is 4.9% higher than the previous year. Over the period from 2017 to 2020, imports increased by 46.8%, with a compound annual growth rate of 13.6%. The largest decline occurred in 2019, with a drop of 3.3%, while the largest increase was in 2018, with a rise of 44.7%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

During 2017–2020, Italy, Bulgaria, and Romania were the main sources in the geographical breakdown of imports in value terms for crispbread, rusks, toasted bread, and similar toasted products into Greece. Italy accounted for 27.7% of imports, Bulgaria for 17.1%, and Romania for 13.8%, with a combined share of 58.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020