Argentina: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Argentina

The Argentinian market for sweet biscuits, waffles and wafers expanded sharply to $X in 2021, growing by 12% against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in Argentina

In value terms, sweet biscuit, waffle and wafer production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 22%. Sweet biscuit, waffle and wafer production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Argentina

Sweet biscuit, waffle and wafer exports from Argentina expanded remarkably to X tons in 2021, growing by 8.7% on the year before. Over the period under review, exports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2019 with an increase of 12% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer exports expanded rapidly to $X in 2021. Overall, exports, however, recorded a pronounced setback. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X tons), Uruguay (X tons) and Paraguay (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Argentina, with a combined 92% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +2.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Uruguay ($X) and Paraguay ($X) constituted the largest markets for sweet biscuit, waffle and wafer exported from Argentina worldwide, with a combined 90% share of total exports.

Paraguay, with a CAGR of +0.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, recorded a slight slump. The pace of growth was the most pronounced in 2013 an increase of 8% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Argentina

After two years of decline, overseas purchases of sweet biscuits, waffles and wafers increased by 31% to X tons in 2021. Overall, imports showed a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 77%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer imports soared to $X in 2021. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 67% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest sweet biscuit, waffle and wafer supplier to Argentina, accounting for a 81% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Brazil exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold. The third position in this ranking was taken by Turkey (X tons), with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.7% per year) and Turkey (+71.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Argentina, comprising 73% of total imports. The second position in the ranking was taken by Poland ($X), with a 9.1% share of total imports. It was followed by Turkey, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.2% per year) and Turkey (+77.7% per year).

Import Prices by Country

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, with a decrease of -6.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2013 an increase of 31%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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