ASEAN: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in ASEAN

In 2021, the ASEAN market for sweet biscuits, waffles and wafers increased by 3.9% to $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 decreased by -11.4% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in ASEAN

In value terms, sweet biscuit, waffle and wafer production rose significantly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.3% against 2017 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in ASEAN

Sweet biscuit, waffle and wafer exports rose sharply to X tons in 2021, picking up by 11% on the previous year. In general, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 23%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports expanded significantly to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 20%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Indonesia represented the major exporting country with an export of around X tons, which recorded 69% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 17% share, followed by Thailand (9.3%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sweet biscuit, waffle and wafer exports from Indonesia stood at +15.5%. At the same time, Thailand (+16.5%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +16.5% from 2012-2021. By contrast, Singapore (-1.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia and Thailand increased by +23 and +3.6 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest sweet biscuit, waffle and wafer supplier in ASEAN, comprising 61% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by Thailand, with a 13% share.

In Indonesia, sweet biscuit, waffle and wafer exports expanded at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+4.0% per year) and Thailand (+14.7% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in ASEAN

For the tenth year in a row, ASEAN recorded growth in overseas purchases of sweet biscuits, waffles and wafers, which increased by 3.8% to X tons in 2021. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 28% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports rose remarkably to $X in 2021. In general, imports enjoyed buoyant growth. The growth pace was the most rapid in 2018 with an increase of 23% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

The countries with the highest levels of sweet biscuit, waffle and wafer imports in 2021 were Thailand (X tons), Malaysia (X tons), the Philippines (X tons), Vietnam (X tons), Myanmar (X tons) and Singapore (X tons), together accounting for 92% of total import. It was distantly followed by Indonesia (X tons), committing a 5.4% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +90.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined 53% share of total imports. Singapore, the Philippines, Myanmar and Indonesia lagged somewhat behind, together accounting for a further 44%.

Among the main importing countries, Myanmar, with a CAGR of +78.0%, recorded the highest rates of growth with regard to 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

In 2021, the import price in ASEAN amounted to $X per ton, surging by 5.1% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform