Asia-Pacific: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Asia-Pacific

The Asia-Pacific market for sweet biscuits, waffles and wafers rose modestly to $X in 2021, growing by 1.6% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 -2.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Asia-Pacific

In value terms, sweet biscuit, waffle and wafer production expanded modestly to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 decreased by -1.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 15%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in Asia-Pacific

In 2021, approx. X tons of sweet biscuits, waffles and wafers were exported in Asia-Pacific; growing by 15% against 2020 figures. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.3% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer exports surged to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 20% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Indonesia (X tons), distantly followed by India (X tons), Malaysia (X tons), China (X tons) and Thailand (X tons) represented the main exporters of sweet biscuits, waffles and wafers, together committing 87% of total exports. The following exporters - Australia (X tons), Pakistan (X tons) and South Korea (X tons) - each accounted for a 5.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +16.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest sweet biscuit, waffle and wafer supplier in Asia-Pacific, comprising 37% of total exports. The second position in the ranking was held by India ($X), with a 12% share of total exports. It was followed by Malaysia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia amounted to +13.2%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+5.2% per year) and Malaysia (+4.0% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, rising by 4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 6.5%. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while India ($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 Korea (+5.6%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in Asia-Pacific

In 2021, imports of sweet biscuits, waffles and wafers in Asia-Pacific reached X tons, increasing by 4% on the previous year's figure. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 18%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, sweet biscuit, waffle and wafer imports expanded significantly to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 18% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons), distantly followed by Australia (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons), Vietnam (X tons), Myanmar (X tons), South Korea (X tons) and Singapore (X tons) were the major importers of sweet biscuits, waffles and wafers, together creating 79% of total imports. Hong Kong SAR (X tons), New Zealand (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to sweet biscuit, waffle and wafer imports into China stood at +14.0%. At the same time, Myanmar (+90.1%), the Philippines (+23.5%), Malaysia (+17.4%), South Korea (+15.6%), Vietnam (+12.8%), Indonesia (+10.1%), Thailand (+6.0%), Hong Kong SAR (+3.0%), Australia (+2.4%), Singapore (+2.1%) and Taiwan (Chinese) (+1.2%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +90.1% from 2012-2021. New Zealand experienced a relatively flat trend pattern. China (+7.7 p.p.), the Philippines (+5.5 p.p.), Myanmar (+5.4 p.p.), Malaysia (+4.3 p.p.), South Korea (+2.2 p.p.) and Vietnam (+2 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Thailand, Hong Kong SAR, New Zealand, Singapore and Australia saw its share reduced by -1.9%, -2%, -2.3%, -3.1%, -3.8% and -6.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sweet biscuits, waffles and wafers in Asia-Pacific, comprising 25% of total imports. The second position in the ranking was held by Australia ($X), with an 11% share of total imports. It was followed by Vietnam, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +13.1%. In the other countries, the average annual rates were as follows: Australia (+5.6% per year) and Vietnam (+11.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 6.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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