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Turkey - Waffles And Wafers Without Chocolate - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Turkey - Waffles And Wafers Without Chocolate - Market Analysis, Forecast, Size, Trends And Insights

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Mar 8, 2023

Turkey's Waffle and Wafer Price Falls to $3,087 per Ton

Turkey Waffle and Wafer Export Price in December 2022

In December 2022, the waffle and wafer price amounted to $3,087 per ton (FOB, Turkey), waning by -3.7% against the previous month. Over the last eleven months, it increased at an average monthly rate of +1.3%. The growth pace was the most rapid in March 2022 an increase of 6.4% m-o-m. The export price peaked at $3,205 per ton in November 2022, and then fell slightly in the following month.

There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was Belgium ($5,258 per ton), while the average price for exports to Cote d'Ivoire ($1,865 per ton) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Waffle and Wafer Exports

In December 2022, shipments abroad of waffles and wafers decreased by -6% to 13K tons, falling for the second consecutive month after three months of growth. The total export volume increased at an average monthly rate of +1.9% over the period from January 2022 to December 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in August 2022 with an increase of 40% against the previous month. Over the period under review, the exports reached the maximum at 16K tons in October 2022; however, from November 2022 to December 2022, the exports failed to regain momentum.

In value terms, waffle and wafer exports declined to $41M (IndexBox estimates) in December 2022. Overall, total exports indicated notable growth from January 2022 to December 2022: its value increased at an average monthly rate of +3.3% over the last eleven months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, exports decreased by -13.3% against October 2022 indices. The pace of growth was the most pronounced in August 2022 with an increase of 43% against the previous month. Over the period under review, the exports reached the maximum at 48K tons in October 2022; however, from November 2022 to December 2022, the exports remained at a lower figure.

Turkey Waffle and Wafer Exports by Country

Iraq (4K tons) was the main destination for waffle and wafer exports from Turkey, with a 30% share of total exports. Moreover, waffle and wafer exports to Iraq exceeded the volume sent to the second major destination, Israel (966 tons), fourfold. The third position in this ranking was taken by Libya (953 tons), with a 7.1% share.

From January 2022 to December 2022, the average monthly growth rate of volume to Iraq was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Israel (+3.2% per month) and Libya (+8.0% per month).

In value terms, Iraq ($11M) remains the key foreign market for waffle and wafer exports from Turkey, comprising 26% of total exports. The second position in the ranking was held by Israel ($3.3M), with an 8% share of total exports. It was followed by Saudi Arabia, with a 7.6% share.

From January 2022 to December 2022, the average monthly growth rate of value to Iraq was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Israel (+5.2% per month) and Saudi Arabia (+39.9% per month).

Factors Affecting Waffle and Wafer Prices

Turkey is among the major producers of waffle and wafer products, with a significant share of the global market. The country's leading position is due to its competitive prices and high-quality products.

Waffle and wafer prices in Turkey have been on the rise in recent years, due in part to increased demand from domestic consumers and tourists. However, there are a number of other factors that have contributed to this price hike as well. First, the cost of raw materials has risen sharply, putting pressure on manufacturers. Second, energy costs have also risen, making it more expensive to produce waffles and wafers. Finally, labor costs have also increased as the minimum wage in Turkey has gone up.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the waffle and wafer market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10721259 - Waffles and wafers (including salted) (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)

Country coverage:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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