Africa: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Africa

In 2021, the African waffle and wafer market increased by 3.9% to $X, rising for the fifth consecutive year after three years of decline. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +86.7% against 2016 indices. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Waffle And Wafer Production in Africa

In value terms, waffle and wafer production contracted to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +41.8% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 32%. As a result, production reached the peak level of $X, and then shrank in the following year.

Waffle And Wafer Exports

Exports in Africa

In 2021, the amount of waffles and wafers exported in Africa amounted to X tons, surging by 14% against the year before. Over the period under review, exports continue to indicate a slight increase. The most prominent rate of growth was recorded in 2015 with an increase of 57%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, waffle and wafer exports skyrocketed to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.7% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 40%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Egypt (X tons) was the key exporter of waffles and wafers, creating 47% of total exports. Morocco (X tons) took the second position in the ranking, distantly followed by Tunisia (X tons) and South Africa (X tons). All these countries together took approx. 45% share of total exports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Morocco (with a CAGR of +42.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Egypt ($X) remains the largest waffle and wafer supplier in Africa, comprising 66% of total exports. The second position in the ranking was taken by Morocco ($X), with a 15% share of total exports. It was followed by Tunisia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Egypt totaled +5.3%. In the other countries, the average annual rates were as follows: Morocco (+42.3% per year) and Tunisia (-0.2% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, with an increase of 11% against the previous year. Export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, waffle and wafer export price increased by +102.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 66% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Egypt ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+3.4%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in Africa

Waffle and wafer imports soared to X tons in 2021, rising by 17% compared with 2020. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.0% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 29%. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, waffle and wafer imports skyrocketed to $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +98.5% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 30%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

Libya (X tons) and Morocco (X tons) represented the main importers of waffles and wafers in 2021, resulting at near 19% and 14% of total imports, respectively. Egypt (X tons) took a 6.8% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (6.2%), South Africa (5.6%) and Ghana (5.2%). Algeria (X tons), Benin (X tons), Angola (X tons), Guinea (X tons), Sudan (X tons), Mali (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer importing markets in Africa were Libya ($X), Morocco ($X) and Egypt ($X), together accounting for 51% of total imports.

Among the main importing countries, Morocco, with a CAGR of +32.1%, 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

The import price in Africa stood at $X per ton in 2021, picking up by 8.9% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Algeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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