Asia: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Asia

In 2022, the Asian market for gingerbread, sweet biscuits and waffles increased by 0.7% to $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Gingerbread, Sweet Biscuits and Waffles in Asia

In value terms, gingerbread, sweet biscuit and waffle production contracted to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Asia

For the eleventh consecutive year, Asia recorded growth in shipments abroad of gingerbread, sweet biscuits and waffles, which increased by 10% to X tons in 2022. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.2% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, gingerbread, sweet biscuit and waffle exports rose rapidly to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +120.2% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 19% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X tons) and Turkey (X tons) were the key exporters of gingerbread, sweet biscuits and waffles in Asia, together finishing at near 51% of total exports. India (X tons) ranks next in terms of the total exports with a 17% share, followed by Malaysia (5.1%). The following exporters - the United Arab Emirates (X tons), Thailand (X tons), China (X tons), Saudi Arabia (X tons) and Bahrain (X tons) - together made up 15% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +66.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Turkey ($X) and India ($X) were the countries with the highest levels of exports in 2022, with a combined 60% share of total exports. Malaysia, the United Arab Emirates, Thailand, China, Bahrain and Saudi Arabia lagged somewhat behind, together accounting for a further 26%.

Bahrain, with a CAGR of +70.4%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 4.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2013 when the export price increased by 6.5%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.0%), while the other leaders experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in Asia

In 2022, purchases abroad of gingerbread, sweet biscuits and waffles decreased by -1% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.4% against 2012 indices. The growth pace was the most rapid in 2015 when imports increased by 15% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, gingerbread, sweet biscuit and waffle imports declined slightly to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 18% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The purchases of the twelve major importers of gingerbread, sweet biscuits and waffles, namely Iraq, China, Yemen, the Philippines, the United Arab Emirates, Saudi Arabia, Thailand, Malaysia, Kazakhstan, Vietnam, Israel and Singapore, represented more than half of total import. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +25.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Iraq ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 28% of total imports. The Philippines, Saudi Arabia, Thailand, Israel, Vietnam, Yemen, Singapore, Malaysia, Kazakhstan and Oman lagged somewhat behind, together accounting for a further 38%.

Among the main importing countries, the Philippines, with a CAGR of +27.3%, saw 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 Asia stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 3.8%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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