Asia-Pacific: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Asia-Pacific

The Asia-Pacific waffle and wafer market stood at $X in 2021, standing approx. at the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Waffle And Wafer Production in Asia-Pacific

In value terms, waffle and wafer production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Waffle And Wafer Exports

Exports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in overseas shipments of waffles and wafers, when their volume increased by 14% to X tons. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 29%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, waffle and wafer exports totaled $X in 2021. Overall, exports continue to indicate strong growth. The growth pace was the most rapid in 2016 with an increase of 26% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Indonesia dominates exports structure, accounting for X tons, which was near 75% of total exports in 2021. Malaysia (X tons) took the second position in the ranking, followed by China (X tons). All these countries together held near 13% share of total exports. The following exporters - Thailand (X tons) and India (X tons) - each amounted to a 7.9% share of total exports.

Indonesia was also the fastest-growing in terms of the waffles and wafers exports, with a CAGR of +21.6% from 2012 to 2021. At the same time, China (+8.7%), India (+7.6%) and Thailand (+5.8%) displayed positive paces of growth. By contrast, Malaysia (-2.1%) illustrated a downward trend over the same period. Indonesia (+33 p.p.) significantly strengthened its position in terms of the total exports, while India, China, Thailand and Malaysia saw its share reduced by -2.7%, -3.4%, -4% and -20.1% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) remains the largest waffle and wafer supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total exports. It was followed by China, with a 6.2% share.

In Indonesia, waffle and wafer exports increased at an average annual rate of +17.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (-1.9% per year) and China (+9.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 when the export price increased by 1.5%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.1%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in Asia-Pacific

In 2021, imports of waffles and wafers in Asia-Pacific stood at X tons, increasing by 8.4% against the previous year. Over the period under review, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, waffle and wafer imports skyrocketed to $X in 2021. In general, imports posted prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 28%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

China was the major importing country with an import of about X tons, which amounted to 30% of total imports. The Philippines (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (9.3%), Myanmar (9.2%), South Korea (5.8%), Vietnam (5.5%), Australia (5.5%) and Malaysia (5.4%).

Imports into China increased at an average annual rate of +33.8% from 2012 to 2021. At the same time, Myanmar (+60.4%), the Philippines (+29.7%), Malaysia (+26.8%), South Korea (+16.5%), Vietnam (+13.8%), Thailand (+8.0%) and Australia (+6.1%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +60.4% from 2012-2021. China (+22 p.p.), Myanmar (+8.7 p.p.), the Philippines (+7 p.p.) and Malaysia (+3 p.p.) significantly strengthened its position in terms of the total imports, while Australia and Thailand saw its share reduced by -6.9% and -8.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported waffles and wafers in Asia-Pacific, comprising 27% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.7% share of total imports. It was followed by the Philippines, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +29.3%. In the other countries, the average annual rates were as follows: Thailand (+4.0% per year) and the Philippines (+28.7% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, increasing by 6.4% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. Over the period under review, import prices reached the maximum 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 Australia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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