In the 22nd position of the suppliers of bakery preparations in the USA is Greece with a percentage of 0.3%. However, as highlighted in a “market survey for the bakery preparations industry in the USA” of the Office of Economic and Commercial Affairs of the Consulate General of Greece in New York “Greek exports have had a steady increase in recent years with the result that in 2021 the value of more than triple compared to 2017 (from $7.8 million in 2017, to $24.6 million in 2021).
The largest share of US bakery imports comes from the neighboring countries of Canada and Mexico. Cumulatively, almost 70% of all imports of the category in the USA come from the two countries, while our country ranks 22nd.
Of particular interest, as noted, is “the evolution of Greek exports of mixes and doughs used for the preparation of bakery, confectionery and biscuit products (HS Class 190120).
As far as Greek exports of raw materials for the production of bakery products (dough and other mixes) are concerned, these rose from 40 thousand dollars in 2017 to 529 thousand dollars in 2021. Despite the fact that they continue to represent a very small percentage of the total imports of class HS 190120 (0.14%), Greek exports in this category show good growth prospects” as underlined.
More generally, as mentioned in the research, the imports of bakery products in the USA have been moving steadily upwards in the last five years. More specifically, from 4.9 billion dollars in 2017, they reached 7.5 billion dollars in 2021.
Although the bakery industry (including bakery, confectionery or biscuit products) is experiencing significant growth in the US, it is interesting that there are no large name-brand companies operating in it, because most of the production and sales come from medium-sized companies for market data.
Consumers in the US are particularly attracted to fresh food, increasingly valuing products made with fresh ingredients for health and wellness reasons.
Additionally, while yeast products are the largest subcategory, sales of packaged and non-packaged flatbreads have grown significantly in recent years. This may, in part, be due to the growing interest of the consumer public in foreign cuisine, which includes breads such as tortillas and pies (of Greek, Arabic and other origins), but also to the inclusion of bakery preparations on restaurant menus .